Tech Solutions Inc. has the following data on its balance sheet: Cash on hand: $600,000 Market securities: $50,000 Net accounts and notes receivable: $200,000 Retailers' inventories: $800,000 Prepaid expenses: $60,000 Accounts and notes payable (short term): $900,000 Accumulated liabilities: $150,000 What are Tech Solutions' current ratio and acid-test ratio?

Tech Solutions Inc. has the following data on its balance sheet: Cash on hand: $600,000 Market securities: $50,000 Net accounts and notes receivable: $200,000 Retailers' inventories: $800,000 Prepaid expenses: $60,000 Accounts and notes payable (short term): $900,000 Accumulated liabilities: $150,000 What are Tech Solutions' current ratio and acid-test ratio?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 16P: Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for...

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