The following items are reported on a company's balance sheet:
$$\begin{array} { l r }
\text { Cash } & \$ 258,000 \
\text { Marketable securities } & 114,000 \
\text { Accounts receivable } & 187,000 \
\text { Inventory } & 204,000 \
\text { Notes payable (short-term) } & 249,000
\end{array}$$
Determine the (a) current ratio and (b) quick ratio.(Round your answer to one decimal place.)

Question

The following items are reported on a company's balance sheet:
​ $$\begin{array} { l r } 
\text { Cash } & \$ 258,000 \
\text { Marketable securities } & 114,000 \
\text { Accounts receivable } & 187,000 \
\text { Inventory } & 204,000 \
\text { Notes payable (short-term) } & 249,000
\end{array}$$ ​
Determine the (a) current ratio and (b) quick ratio.(Round your answer to one decimal place.)

Quizplus · Accepted Answer

The Answer of The following items are reported on a company's balance sheet:
​ $$\begin{array} { l r } 
\text { Cash } & \$ 258,000 \
\text { Marketable securities } & 114,000 \
\text { Accounts receivable } & 187,000 \
\text { Inventory } & 204,000 \
\text { Notes payable (short-term) } & 249,000
\end{array}$$ ​
Determine the (a) current ratio and (b) quick ratio.(Round your answer to one decimal place.)

The Following Items Are Reported on a Company's Balance Sheet