The following items are reported on a company's balance sheet:
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 34CE
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The following items are reported on a company's balance sheet:
Cash | $195,100 |
Marketable securities | 152,400 |
Accounts receivable (net) | 121,500 |
Inventory | 140,700 |
Accounts payable | 469,000 |
Determine (a) the
a. Current ratio | |
b. Quick ratio |
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