Calculate the current, quick and cash ratio

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Reference no: EM133129726

Question - Selected items from Excellent Company's Statement of Financial Position had balances as follows:

Cash 455,000

Accounts Receivables 900,000

Inventory 650,000

Prepaid Assets 68,000

Accrued liabilities 285,000

Accounts Payable 550,000

Notes payable (current portion amounts to P65,000) 650,000

Required - You were requested by the manager to calculate the following for decision-making:

1. The current ratio

2. The quick ratio

3. The cash ratio

Reference no: EM133129726

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