Line Item Description Amount Cash $296,600 Marketable securities 185,000 Accounts receivable (net) 121,000 Inventory 127,000 Accounts payable 228,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. Line Item Description Ratio a. Current ratio b. Quick ratio
Line Item Description Amount Cash $296,600 Marketable securities 185,000 Accounts receivable (net) 121,000 Inventory 127,000 Accounts payable 228,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. Line Item Description Ratio a. Current ratio b. Quick ratio
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following items are reported on a company’s
| Line Item Description | Amount |
|---|---|
| Cash | $296,600 |
| Marketable securities | 185,000 |
| 121,000 | |
| Inventory | 127,000 |
| Accounts payable | 228,000 |
Determine (a) the
| Line Item Description | Ratio |
|---|---|
| a. Current ratio | |
| b. Quick ratio |
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