Cengage ?. CengageNOWy2 X e Chegg Study! Guide Q Accounting ll Exam 1 Q Accounti

Question

Cengage ?. CengageNOWy2 X e Chegg Study! Guide Q Accounting ll Exam 1 Q Accounting Chapter + v v2.cengagenow.com/ilrm/takeAssignment/takeAssignmentMain.do?invoker-assignments&ta; sionLocator-assignment-t L]? ?? Ch 17-4 Test Calculator The following items are reported on a company's balance sheet Cash Marketable securities Accounts receivable Inventory Accounts payable Round your answers to two decimal places a. Determine the current ratio 7. $284,300 98,200 228,400 179,700 293,200 10 b. Determine the quick ratio 18 19 20 PrevioUS Next 12:23 PM Type here to search 4/19/2018 15

Explanation / Answer

Cash        2,84,300 Marketable Securities            98,200 Accounts Receivable        2,28,400 Inventory        1,79,700 Total Current Assets        7,90,600 Accounts Receivable        2,93,200 Total Current liabilties        2,93,200 Current Ratio = Current Assets/Current Liabilities Quick Ratio = (Current Assets- Inventories)/Current Liabilities Current Ratio =790,600/293,200 = 2.70 Quick Ratio =(790,600-179,700)/293,200 = 2.08

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