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Hello need homework help with according please Exercise 16-28Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information: Current assets: Cash $12,450,000 Accounts
Hello need homework help with according please
Exercise 16-28Current Ratio and Quick (Acid-Test) Ratio
Jordan Company provided the following information:
Current assets: | |
Cash | $12,450,000 |
Accounts receivable | 8,740,000 |
Inventories | 8,150,000 |
Total current assets | $29,340,000 |
Current liabilities | $16,300,000 |
Required:
Note:Round answers to one decimal place.
- 1.Compute the current ratio.
- 2.Compute the quick (acid-test) ratio.
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