The following items are reported on a company's balance sheet: $$\begin{array} { l r }
\text { Cash } & \$ 400,000 \
\text { Marketable securities } & 50,000 \
\text { Accounts receivable } & 150,000 \
\text { Inventory } & 200,000 \
\text { Accounts payable } & 250,000
\end{array}$$
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: $$\begin{array} { l r } 
\text { Cash } & \$ 400,000 \
\text { Marketable securities } & 50,000 \
\text { Accounts receivable } & 150,000 \
\text { Inventory } & 200,000 \
\text { Accounts payable } & 250,000
\end{array}$$ ​
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: $$\begin{array} { l r } 
\text { Cash } & \$ 400,000 \
\text { Marketable securities } & 50,000 \
\text { Accounts receivable } & 150,000 \
\text { Inventory } & 200,000 \
\text { Accounts payable } & 250,000
\end{array}$$ ​
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