Question: At December 3 1 , 2 0 2 4 , Sandra Robinson Corporation reported current assets of $ 3 4 3 , 0 0
At December Sandra Robinson Corporation reported current assets of $ and current liabilities of $ The following items may have been recorded incorrectly. Robinson uses a perpetual inventory system.
Goods purchased costing $ were shipped fob shipping point by a supplier on December Robinson received and recorded the invoice on December but the goods were not included in Robinson's inventory because they were not received until January
Goods purchased costing $ were shipped fob destination by a supplier on December Robinson received and recorded the invoice on December but the goods were not included in Robinson's inventory because they were not received until January
Goods held on consignment from Claudia Kishi Company were included in Robinson's December inventory at $
a
Your answer is correct.
Compute the current ratio based on Robinson's balance sheet. Round ratio to decimal places, eg:
The current ratio
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b
Your answer is incorrect.
Recompute the current ratio after corrections are made. Round ratio to decimal places, eg:
The current ratio
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c
The parts of this question must be completed in order. This part will be available when you complete the part above.
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