The following items are reported on a company's balance sheet: Cash $120,000 Marketable securities 40,000 Accounts receivable (net) 50,000 Inventory 90,000 Accounts payable 150,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.

The following items are reported on a company's balance sheet: Cash $120,000 Marketable securities 40,000 Accounts receivable (net) 50,000 Inventory 90,000 Accounts payable 150,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place.

Name: The following items are reported on a company's balance sheet:Cash$12
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Description: The following items are reported on a company's balance sheet:Cash$120,000Marketable securities40,000Accounts receivable (net)50,000Inventory90,000Accounts payable150,000Determine (a) the current ratio and (b) the quick ratio. Round your answers to

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 7DQ

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