The following items are reported on a company's balance sheet:Cash$258,000Marketable securities114,000Accounts receivable187,000Inventory204,000Notes payable (short-term)249,000Determine the (a) current ratio and (b) quick ratio. Round your answers to one decimal place.a. Current ratiofill in the blank 1b. Quick ratiofill in the blank 2

Name: The following items are reported on a company's balance sheet:Cash$258
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Description: The following items are reported on a company's balance sheet:Cash$258,000Marketable securities114,000Accounts receivable187,000Inventory204,000Notes payable (short-term)249,000Determine the (a) current ratio and (b) quick ratio. Round your answers t

Current Ratio = Current Assets/ Current Liabilities Quick Ratio = Liquid Assets/ Current Liabilities

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	$258,000
Marketable securities	114,000
Accounts receivable	187,000
Inventory	204,000
Notes payable (short-term)	249,000

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

a. Current ratio	fill in the blank 1
b. Quick ratio	fill in the blank 2

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