The following items are reported on a company's balance sheet:Cash$579,700Marketable securities452,900Accounts receivable (net)520,200Inventory258,800Accounts payable647,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.a. Current ratio b. Quick ratio

Name: The following items are reported on a company's balance sheet:Cash$579
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Description: The following items are reported on a company's balance sheet:Cash$579,700Marketable securities452,900Accounts receivable (net)520,200Inventory258,800Accounts payable647,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal

The current ratio refers to liquidity ratio which tries to measure whether an organization has…

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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