The following items are reported on Denver Company's balance sheet:?? $$\begin{array} { l r }
\text { Cash } & \$ 190,000 \
\text { Marketable securities } & 160,000 \
\text { Accounts receivable (net) } & 240,000 \
\text { Inventory } & 350,000 \
\text { Accounts payable } & 600,000
\end{array}$$ Determine the (a) current ratio and (b) quick ratio. Round your answers to one decimal place.

Question

The following items are reported on Denver Company's balance sheet:?? $$\begin{array} { l r } 
\text { Cash } & \$ 190,000 \
\text { Marketable securities } & 160,000 \
\text { Accounts receivable (net) } & 240,000 \
\text { Inventory } & 350,000 \
\text { Accounts payable } & 600,000
\end{array}$$ Determine the  (a) current ratio and  (b) quick ratio. Round your answers to one decimal place.

Quizplus · Accepted Answer

The Answer of The following items are reported on Denver Company's balance sheet:?? $$\begin{array} { l r } 
\text { Cash } & \$ 190,000 \
\text { Marketable securities } & 160,000 \
\text { Accounts receivable (net) } & 240,000 \
\text { Inventory } & 350,000 \
\text { Accounts payable } & 600,000
\end{array}$$ Determine the  (a) current ratio and  (b) quick ratio. Round your answers to one decimal place.

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