Question: In its most recent annual report Appalachian Beverages reported current

In its most recent annual report, Appalachian Beverages reported current assets of $54,000 and a current ratio of 1.80. Assume that the following transactions were completed:
(1) Purchased merchandise for $6,000 on account, and
(2) Purchased a delivery truck for $10,000, paying $1,000 cash and signing a two-year promissory note for the balance.

Required:
Compute the updated current ratio, rounded to two decimal places, after each transaction.


View Solution:


Sale on SolutionInn
Sales0
Views108
Comments
  • CreatedFebruary 27, 2015
  • Files Included
Post your question
5000