Using the data below compute the Current Ratio and Quick Ratio Show your solutions Razor Company has provided the following accounts: Cash P300,000 Accounts Payable 700,000 Interest Payable 600,000 Rent Payable 200,000 Utilities Payable 100,000 Accrued Expenses Accounts Receivable Inventories Marketable Securities Prepaid Expense Property, Plant, and Equipment Notes Receivable (8% 4-year) 3,600,000 Notes Payable (6% 3-year) 1,500,000 Bonds Payable ( 8 % 5-year) P250,000 40,000 70,000 80,000 60,000 1,400,000 2,100,000

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Using the data below compute the Current Ratio and Quick Ratio Show your solutions
Razor Company has provided the following accounts:
Cash
P300,000 Accounts Payable
700,000 Interest Payable
600,000 Rent Payable
200,000 Utilities Payable
100,000 Accrued Expenses
3,600,000 Notes Payable ( 6% 3-year)
1,500,000 Bonds Payable (8% 5-year)
Accounts Receivable
Inventories
Marketable Securities
Prepaid Expense
Property, Plant, and Equipment
Notes Receivable (8% 4-year)
• Previous
P250,000
40,000
70,000
80,000
60,000
1,400,000
2,100,000
Transcribed Image Text:Using the data below compute the Current Ratio and Quick Ratio Show your solutions Razor Company has provided the following accounts: Cash P300,000 Accounts Payable 700,000 Interest Payable 600,000 Rent Payable 200,000 Utilities Payable 100,000 Accrued Expenses 3,600,000 Notes Payable ( 6% 3-year) 1,500,000 Bonds Payable (8% 5-year) Accounts Receivable Inventories Marketable Securities Prepaid Expense Property, Plant, and Equipment Notes Receivable (8% 4-year) • Previous P250,000 40,000 70,000 80,000 60,000 1,400,000 2,100,000
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