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Foster Company had current assets and current liabilities as follows. Current assets: Cash $ 50,000 Accounts receivable 80,000 Inventory 125,000 Current liabilities: Accrued expenses $
Foster Company had current assets and current liabilities as follows.
| Current assets: | ||||
| Cash | $ | 50,000 | ||
| Accounts receivable | 80,000 | |||
| Inventory | 125,000 | |||
| Current liabilities: | ||||
| Accrued expenses | $ | 25,000 | ||
| Accounts payable | 110,000 | |||
| Current portion of long-term debt | 56,000 | |||
Calculate the current and quick ratios using the information provided
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9 Keys To Successful Audits
Authors: Denise Robitaille
1st Edition
1932828680, 978-1932828689
