Calculating the Current Ratio and the Quick (or Acid-Test)Ratio
The Gridiron Company has current assets equal to $3,800,000. Ofthese, $1,200,000 is cash, $1,800,000 is accounts receivable,$500,000 is inventory, and the remainder is marketable securities.Current liabilities total $1,984,000.
Required:
Note: Round answers to two decimal places.
1. Calculate the current ratio.$
2. Calculate the quick ratio (acid-testratio).$
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."
