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Question Content Area The following items are reported on a company's balance sheet: Line Item Description Amount Cash $272,400 Marketable securities 103,500 Accounts receivable 247,200
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The following items are reported on a company's balance sheet:
| Line Item Description | Amount |
|---|---|
| Cash | $272,400 |
| Marketable securities | 103,500 |
| Accounts receivable | 247,200 |
| Inventory | 198,200 |
| Accounts payable | 292,100 |
Determine the (a) current ratio and (b) quick ratio. Round answers to one decimal place.
| Line Item Description | Amount |
|---|---|
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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Audit Standards A Comparative Analysis
Authors: Walter W. O Willborn
1st Edition
0873890345, 978-0873890342
