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bagirrra123 [75]
2 years ago
15

The following items are reported on a company's balance sheet: Cash $210,000 Marketable securities 120,000 Accounts receivable (

net) 110,000 Inventory 160,000 Accounts payable 200,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
Business
1 answer:
valkas [14]2 years ago
3 0

Answer:

See below

Explanation:

1. Current ration

= Current asset/Current liabilities

Current assets = Cash + Marketable securities + Accounts receivables + Inventory

= $210,000 + $120,000 + $110,000 + $160,000

= $600,000

Current liabilities = Accounts payable = $200,000

Current ratio = $600,000/$200,000

Current ratio = 3:1

2. Quick ratio

= Current assets - Inventory / Current liabilities

= ($600,000 - $160,000) / $200,000

= 2.2 : 1

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