The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid expenses Marketable securities Property, plant, and equipment Accounts payable Accrued liabilities Income tax payable Notes payable, short-term $154,000 210,000 240,000 15,000 350,000 375,000 245,000 4,000 10,000 85,000 Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place. a. Working Capital b. Current Ratio c. Quick Ratio

The following data are taken from the balance sheet at the end of the current year. Cash Accounts receivable Inventory Prepaid expenses Marketable securities Property, plant, and equipment Accounts payable Accrued liabilities Income tax payable Notes payable, short-term $154,000 210,000 240,000 15,000 350,000 375,000 245,000 4,000 10,000 85,000 Determine the (a) working capital, (b) current ratio, and (c) quick ratio. Round ratios to one decimal place. a. Working Capital b. Current Ratio c. Quick Ratio

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 13MCQ

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