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The following items are reported on a company’s balance sheet:Cash                                             $100,000Marketable securities                      50,000Accounts receivable (net)                60,000Inventory                                         70,000Accounts payable                            140,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

The following items are reported on a company’s balance sheet:Cash                                             $100,000Marketable securities                      50,000Accounts receivable (net)                60,000Inventory                                         70,000Accounts payable                            140,000Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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The following items are reported on a company’s balance sheet:
Cash                                             $100,000
Marketable securities                      50,000
Accounts receivable (net)                60,000
Inventory                                         70,000
Accounts payable                            140,000
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.

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