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Category > Business & Finance Posted 03 May 2017 My Price 5.00

Current Ratio and Quick (Acid-Test) Ratio

Exercise 16-28 Current Ratio and Quick (Acid-Test) Ratio

Jordan Company provided the following information:

Current assets:

Cash

$12,450,000

Accounts receivable

8,740,000

Inventories

8,150,000

Total current assets

$29,340,000

Current liabilities

$16,300,000

Required:

Note: Round answers to one decimal place.

1.       Compute the current ratio.

2.       Compute the quick (acid-test) ratio.

 

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 03 May 2017 04:05 PM My Price 5.00

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file 1493828533-answer1.docx preview (50 words )
E-----------xer-----------cis-----------e 1-----------6-2-----------8 C-----------urr-----------ent----------- Ra-----------tio----------- an-----------d Q-----------uic-----------k (-----------Aci-----------d-T-----------est-----------) R-----------ati-----------o -----------Jor-----------dan----------- Co-----------mpa-----------ny -----------pro-----------vid-----------ed -----------the----------- fo-----------llo-----------win-----------g i-----------nfo-----------rma-----------tio-----------n: ----------- Cu-----------rre-----------nt -----------ass-----------ets-----------: -----------  ----------- Ca-----------sh -----------$12-----------,45-----------0,0-----------00 ----------- Ac-----------cou-----------nts----------- re-----------cei-----------vab-----------le -----------8,7-----------40,-----------000----------- I-----------nve-----------nto-----------rie-----------s 8-----------,15-----------0,0-----------00 ----------- To-----------tal----------- cu-----------rre-----------nt -----------ass-----------ets----------- $2-----------9,3-----------40,-----------000----------- C-----------urr-----------ent----------- li-----------abi-----------lit-----------ies----------- $1-----------6,3-----------00,-----------000----------- R-----------equ-----------ire-----------d: ----------- No-----------te:----------- R-----------oun-----------d a-----------nsw-----------ers----------- to----------- on-----------e d-----------eci-----------mal----------- pl-----------ace-----------. -----------1.Â----------- Â ----------- Â----------- Â -----------  -----------Com-----------put-----------e t-----------he -----------cur-----------ren-----------t r-----------ati-----------o. ----------- 2.----------- Â----------- Â ----------- Â----------- Â ----------- Co-----------mpu-----------te -----------the----------- qu-----------ick----------- (a-----------cid------------te-----------st)----------- ra-----------tio-----------. -----------Ans-----------wer----------- Â----------- 1.-----------
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