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book Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger cover

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962
book Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger cover

Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger

النسخة 6الرقم المعياري الدولي: 978-1305103962
تمرين 69
Calculating the Current Ratio and the Quick (or Acid-Test) Ratio
Scherer Company provided the following income statements for its first 3 years of operation:
Calculating the Current Ratio and the Quick (or Acid-Test) Ratio  Scherer Company provided the following income statements for its first 3 years of operation:     Chen Company has current assets equal to $5,000,000. Of these, $1,000,000 is cash, $2,250,000 is accounts receivable, $500,000 is inventory, and the remainder is marketable securities. Current liabilities total $4,000,000. Required:  Note : Round answers to two decimal places. 1. Calculate the current ratio. 2. Calculate the quick ratio (acid-test ratio).
Chen Company has current assets equal to $5,000,000. Of these, $1,000,000 is cash, $2,250,000 is accounts receivable, $500,000 is inventory, and the remainder is marketable securities. Current liabilities total $4,000,000.
Required:
Note : Round answers to two decimal places.
1. Calculate the current ratio.
2. Calculate the quick ratio (acid-test ratio).
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Cornerstones of Managerial Accounting 6th Edition by Maryanne Mowen,Don Hansen ,Dan Heitger
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