For each of the actions listed, determine what would happen to the current ratio. Assume nothing else
Question:
For each of the actions listed, determine what would happen to the current ratio. Assume nothing else on the balance sheet changes and that net working capital is positive.
a. Accounts receivable are paid in cash
b. Notes payable are paid off with cash
c. Inventory is sold on account
d. Inventory is purchased on account
e. Accrued wages and taxes increase
f. Long-term debt is paid with cash
g. Cash from a short-term bank loan is received
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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a Accounts receivable are paid in cash Current ratio does not change b Notes payable are pa...View the full answer
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Related Book For 
Finance Applications and Theory
ISBN: 978-0077861681
3rd edition
Authors: Marcia Cornett, Troy Adair
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