The following items are reported on a company's balance sheet: Cash $335,900 Marketable securities 262,400 Accounts...
The following items are reported on a company's balance sheet:
| Cash | $335,900 |
| Marketable securities | 262,400 |
| Accounts receivable (net) | 320,100 |
| Inventory | 131,200 |
| Accounts payable | 328,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
| a. Current ratio | |
| b. Quick ratio |
Homework Answers
| Cash | 335900 | |
| Marketable securities | 262400 | |
| Accounts receivable (net) | 320100 | |
| Inventory | 131200 | |
| Total Current assets | 1049600 | |
| Total Current assets | 1049600 | |
| Divide by Accounts payable | 328000 | |
| a. Current ratio | 3.2 | |
| Total Quick assets | 918400 | =1049600-131200 |
| Divide by Accounts payable | 328000 | |
| b. Quick ratio | 2.8 |
Add Answer to:
The following items are reported on a company's balance
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Cash
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Marketable securities
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