Using the data below compute the Current Ratio and Quick Ratio. Show your solutions Razor Company has provided the following accounts: Cash Accounts Receivable Inventories Marketable Securities Prepaid Expense Property, Plant, and Equipment Notes Receivable (8% 4-year) P300,000 Accounts Payable 700,000 Interest Payable 600,000 Rent Payable 200,000 Utilities Payable 100,000 Accrued Expenses 3,600,000 Notes Payable ( 6% 3-year) 1,500,000 Bonds Payable (8% 5-year) P250,000 40,000 70,000 80,000 60,000 1,400,000 2,100,000

Using the data below compute the Current Ratio and Quick Ratio. Show your solutions Razor Company has provided the following accounts: Cash Accounts Receivable Inventories Marketable Securities Prepaid Expense Property, Plant, and Equipment Notes Receivable (8% 4-year) P300,000 Accounts Payable 700,000 Interest Payable 600,000 Rent Payable 200,000 Utilities Payable 100,000 Accrued Expenses 3,600,000 Notes Payable ( 6% 3-year) 1,500,000 Bonds Payable (8% 5-year) P250,000 40,000 70,000 80,000 60,000 1,400,000 2,100,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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