Question

On June 30, 2014, Freeman Company’s total current assets were $800,000 and its total current liabilities were $400,000. On July 1, 2014, Freeman issued a long-term note to a bank for $80,000 cash.

Required
Round computations to one decimal point.
a. Compute Freeman’s working capital before and after issuing the note.
b. Compute Freeman’s current ratio before and after issuing the note.



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  • CreatedFebruary 07, 2014
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