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The following items are reported on a company's balance sheet: Cash $425,200 Marketable securities 332,200 Accounts receivable (net) 209,000 Inventory 362,400 Accounts payable 604,000 Determine
The following items are reported on a company's balance sheet:
| Cash | $425,200 |
| Marketable securities | 332,200 |
| Accounts receivable (net) | 209,000 |
| Inventory | 362,400 |
| Accounts payable | 604,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | fill in the blank |
| b. Quick ratio | fill in the blank |
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Auditing Theory
Authors: Ian Dennis
1st Edition
1138599700, 978-1138599703
