The following items are reported on a company's balance sheet: Cash $270,600 Marketable securities 83,600 Accounts receivable 263,100 Inventory 211,800 Accounts payable 315,200 Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratio

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter8: Current And Contingent Liabilities
Section: Chapter Questions
Problem 34CE
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The following items are reported on a company's balance sheet:
Cash
$270,600
Marketable securities
83,600
Accounts receivable
263,100
Inventory
211,800
Accounts payable
315,200
Determine the (a) current ratio, and (b) quick ratio. Round your answers to one
decimal place.
a. Current ratio
b. Quick ratio
Transcribed Image Text:The following items are reported on a company's balance sheet: Cash $270,600 Marketable securities 83,600 Accounts receivable 263,100 Inventory 211,800 Accounts payable 315,200 Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratio
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