The following items are reported on a company's balance sheet:Cash $225,000Marketable securities 115,000Accounts receivable (net) 112,000Inventory 158,000Accounts payable 244,000Determine (a) the current ratio and (b) the quick ratio. Round to onedecimal place.

To determine the current ratio and the quick ratio, we use the following formulas: (a) Current Ratio…

Answered: The following items are reported on a…

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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The following items are reported on a company's balance sheet: Cash $579,700 Marketable securities 452,900 Accounts receivable (net) 520,200 Inventory 258,800 Accounts payable 647,000 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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The following items are reported on a company's balance sheet: Line Item Description Amount Cash $277,000 Marketable securities 101,400 Accounts receivable 234,300 Inventory 217,800 Accounts payable 315,500 Determine the (a) current ratio and (b) quick ratio. Round answers to one decimal place.
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The following items are reported on a company's balance sheet: Cash $225,000 Marketable securities 115,000 Accounts receivable (net) 112,000 Inventory 158,000 Accounts payable 244,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.