Barkley Company provided the following information: Line Item Description Amount Current assets: Cash $14,317,500 Accounts receivable 10,051,000 Inventories 8,965,000 Total current assets $33,333,500 Current liabilities $17,930,000 Note: Round answers to one decimal place. 1. Compute the current ratio. fill in the blank 1 of 1 2. Compute the quick (acid-test) ratio. fill in the blank 1 of 1
Barkley Company provided the following information: Line Item Description Amount Current assets: Cash $14,317,500 Accounts receivable 10,051,000 Inventories 8,965,000 Total current assets $33,333,500 Current liabilities $17,930,000 Note: Round answers to one decimal place. 1. Compute the current ratio. fill in the blank 1 of 1 2. Compute the quick (acid-test) ratio. fill in the blank 1 of 1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Barkley Company provided the following information:
Line Item Description Amount
Current assets:
Cash $14,317,500
Accounts receivable 10,051,000
Inventories 8,965,000
Total current assets $33,333,500
Current liabilities $17,930,000
Note: Round answers to one decimal place.
1. Compute the current ratio.
fill in the blank 1 of 1
2. Compute the quick (acid-test) ratio.
fill in the blank 1 of 1
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