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The following items are reported on a company's balance sheet: Cash $310,500 Marketable securities 242,600 Accounts receivable (net) 232,300 Inventory 184,800 Accounts payable 462,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $310,500 |
| Marketable securities | 242,600 |
| Accounts receivable (net) | 232,300 |
| Inventory | 184,800 |
| Accounts payable | 462,000 |
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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Advanced Cost Accounting
Authors: J.K. Mitra
1st Edition
8122425941, 978-8122425949
