Using the data below compute the Current Ratio and Quick Ratio Show your solutionsRazor Company has provided the following accounts:CashP300,000 Accounts Payable700,000 Interest Payable600,000 Rent Payable200,000 Utilities Payable100,000 Accrued Expenses3,600,000 Notes Payable ( 6% 3-year)1,500,000 Bonds Payable (8% 5-year)Accounts ReceivableInventoriesMarketable SecuritiesPrepaid ExpenseProperty, Plant, and EquipmentNotes Receivable (8% 4-year)• PreviousP250,00040,00070,00080,00060,0001,400,0002,100,000

Ratio analysis is one of the important decision making tool used in management accounting. Under…

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

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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