Question
The following items are reported on a company's balance sheet: Cash $258,000 Marketable securities 114,000 Accounts receivable 187,000 Inventory 204,000 Notes payable (short-term) 249,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $258,000 |
| Marketable securities | 114,000 |
| Accounts receivable | 187,000 |
| Inventory | 204,000 |
| Notes payable (short-term) | 249,000 |
Determine the (a) current ratio and (b) quick ratio. Round your answers to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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Financial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
11th Edition
1119594596, 978-1119594598
