Data pertaining to the current position of company are as follows: Cash $ 800,000 Marketable securities 550,000 Accounts and notes receivable (net) 850,000 Inventories 700,000 Prepaid expenses 300,000 Accounts payable 1,200,000 Notes payable (short-term) 700,000 Accrued expenses 100,000 Compute: (a) the working capital, (b) the current ratio (c) the quick ratio
Data pertaining to the current position of company are as follows: Cash $ 800,000 Marketable securities 550,000 Accounts and notes receivable (net) 850,000 Inventories 700,000 Prepaid expenses 300,000 Accounts payable 1,200,000 Notes payable (short-term) 700,000 Accrued expenses 100,000 Compute: (a) the working capital, (b) the current ratio (c) the quick ratio
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 54P
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Data pertaining to the current position of company are as follows:
Cash $ 800,000
Marketable securities 550,000
Accounts and notes receivable (net) 850,000
Inventories 700,000
Prepaid expenses 300,000
Accounts payable 1,200,000
Notes payable (short-term) 700,000
Accrued expenses 100,000
Compute:
(a) the
(b) the
(c) the quick ratio
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