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The following items are reported on a company's balance sheet: Cash $345,000 Marketable securities 269,600 Accounts receivable (net) 224,000 Inventory 239,600 Accounts payable 599,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $345,000 |
| Marketable securities | 269,600 |
| Accounts receivable (net) | 224,000 |
| Inventory | 239,600 |
| Accounts payable | 599,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | fill in the blank 1 |
| b. Quick ratio | fill in the blank 2 |
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MBA Accounting
Authors: Roger Hussey
1st Edition
0230303374, 9780230303379
