Determine the current ratio, and quick ratio, Accounting Basics

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Determine the current ratio, and quick ratio

The following items are reported on a company's balance sheet:

Cash $ 400,000
Marketable securities 50,000
Accounts receivable 150,000
Inventory 200,000
Accounts payable 250,000

Determine the (a) current ratio, and (b) quick ratio. Round your answer to one digit after the decimal.

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Accounting Basics: Determine the current ratio, and quick ratio

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the current ratio, and quick ratio

Reference No:- TGS071214

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Find the monopoly price-quantity and level of profit

Q : How should this increase affect next year

Q : What was interest expense for the year

Q : Calculate the variable costs of hand-made rocking chairs

Q : Determine the current ratio, and quick ratio

Q : Find whether equilibrium consumption of goods will increase

Q : How much of each type of sugar will be purchased

Q : Prepare the journal entry to reflect expiration of insurance

Q : Prepare a statement of cash flows and a balance sheet

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Determine the current ratio, and quick ratio

Reference No:- TGS071214

Recent Questions Asked Accounting Basics

Q : Find the monopoly price-quantity and level of profit

Q : How should this increase affect next year

Q : What was interest expense for the year

Q : Calculate the variable costs of hand-made rocking chairs

Q : Determine the current ratio, and quick ratio

Q : Find whether equilibrium consumption of goods will increase

Q : How much of each type of sugar will be purchased

Q : Prepare the journal entry to reflect expiration of insurance

Q : Prepare a statement of cash flows and a balance sheet

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