You are evaluating the balance sheet for PattyCakes Corporation From the balance sheet you find the following balances cash and marketable securities $400,000 accounts receivable $1,200,000 inventory $2,100,000 accrued wages and taxes $500,000 accounts payable $800,000 and notes payable $600,000 Ca...

Current ratio 400000 1200000 2100000 50000 ...

You are evaluating the balance sheet for PattyCakes Corporation. From the balance sheet you find the following

Question:

You are evaluating the for PattyCake’s Corporation. From the you find the following balances: cash and marketable securities = $400,000; = $1,200,000; inventory = $2,100,000; accrued wages and taxes = $500,000; = $800,000; and notes payable = $600,000. Calculate PattyCakes’ current ratio, quick ratio, and cash ratio. Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...