The following items are reported on a company's balance sheet:
Cash
$400,000
Marketable securities
50,000
Accounts receivable
150,000
Inventory
200,000
Accounts payable
250,000
Determine the a) current ratio, and b) quick ratio. Round your answer to one decimal place.

Question

Quizplus · Accepted Answer

The Answer of The following items are reported on a company's balance sheet:
Cash
$400,000
Marketable securities
50,000
Accounts receivable
150,000
Inventory
200,000
Accounts payable
250,000
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