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Garrett company had current assets and current liabilities

Question - Garrett Company had current assets and current liabilities as follows:

Current Assets:

Cash...................................$50,000

Accounts Receivable.................... 75,000

Inventory.............................. 125,000

Current Liabilities:

Accrued Expenses.......................$25,000

Accounts Payable....................... 110,000

Current Portion Of Long-term debt...... 45,000

Calculate the current and quick ratios using the information provided.

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Accounting Basics: Garrett company had current assets and current liabilities

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Accounting Basics: Garrett company had current assets and current liabilities

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