Cornerstone Exercise 8-33 (Algorithmic) Liquidity Ratios XYZ's financial statements contain the following information: Cash $369,000 Accounts receivable 795,400 Inventory 975,800 Marketable securities 123,000 Accounts payable 631,000 Accrued expenses 189,000 Long-term debt 1,010,000 Round answers to two decimal places. Required: 1. What is its current ratio? 2. What is its quick ratio? 3. What is its cash ratio?
Cornerstone Exercise 8-33 (Algorithmic) Liquidity Ratios XYZ's financial statements contain the following information: Cash $369,000 Accounts receivable 795,400 Inventory 975,800 Marketable securities 123,000 Accounts payable 631,000 Accrued expenses 189,000 Long-term debt 1,010,000 Round answers to two decimal places. Required: 1. What is its current ratio? 2. What is its quick ratio? 3. What is its cash 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 33CE: Liquidity Ratios NWAs financial statements contain the following information: Note: Round answers to...
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Cornerstone Exercise 8-33 (
XYZ's financial statements contain the following information:
Cash | $369,000 |
Accounts receivable | 795,400 |
Inventory | 975,800 |
Marketable securities | 123,000 |
Accounts payable | 631,000 |
Accrued expenses | 189,000 |
Long-term debt | 1,010,000 |
Round answers to two decimal places.
Required:
1. What is its
2. What is its quick ratio?
3. What is its cash ratio?
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