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ssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take;&inprogress-false; eBook Current Ratio and Quick (Acid-Test) Ratio Jordan Company provided the following information Current assets: Calculator Cash 11,205,000 7,866,000 7,335,000 $26,406,000 $18,745,000 Accounts receivable Inventories Total current assets Current liabilities Required Note: Round answers to one decimal place. 1. Compute the current ratio. 1.4 2. Compute the quick (acid-test) ratio. Check My work 1. Current Ratio Current Assets/Current Liablites Check My Work

Explanation / Answer

Quick ratio=(Current assets-inventory)/current liabilities

which is equal to

=(26,406,000-7,335,000)/18,745,000

=1.0(Approx)

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