Hocus Pocus Corporation has the following list of accounts and balances after posting its closing entries: a
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Question:
Hocus Pocus Corporation has the following list of accounts and balances after posting its closing entries:
a ?Calculate the current ratio and the debt ratio. Assume the unearned service revenue will be earned within six months. Round to two decimals.
b ?Assume on December ?Hocus Pocus Corporation borrows $ ?from the First Street Bank and issues a month note. Recalculate the current ratio and the debt ratio. Round to two decimals.
Related Book For
Financial Accounting
ISBN: 978-0132889711
1st Canadian Edition
Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper
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