Current Position AnalysisThe following items are reported on a company's balance sheet:Cash$255,200Marketable securities199,400Accounts receivable (net)121,300Inventory221,500Accounts payable443,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.a. Current ratio b. Quick ratio

Name: Current Position AnalysisThe following items are reported on a company
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Description: Current Position AnalysisThe following items are reported on a company's balance sheet:Cash$255,200Marketable securities199,400Accounts receivable (net)121,300Inventory221,500Accounts payable443,000Determine (a) the current ratio and (b) the quick ra

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Answered: Current Position Analysis The following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Current Position Analysis

The following items are reported on a company's balance sheet:

Cash	$255,200
Marketable securities	199,400
Accounts receivable (net)	121,300
Inventory	221,500
Accounts payable	443,000

Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

a. Current ratio
b. Quick ratio

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