Question: i need help with B current ratio i add 2 or 2.00 but he said its wrong . Exercise 3-16 (Algo) Effect of transactions on
Exercise 3-16 (Algo) Effect of transactions on working capital and current ratio LO 6 Evans Inc had current liabilities at April 30 of $64,000. The firm's current ratio at that date was 18. Required: Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $12,700 of accounts payable on April 29. Calculate the current ratio and working capital at April 30 as if the April 29 payment had not been made. (Round "Current ratio answer to 2 decimal places.) c. Identify the changes, if any, to working capital and the current ratio that would be caused by the April 29 payment Answer is complete but not entirely correct. b Current assets Worlong capital Current ratio Worlung capital Working capital Current ratio 115,200 S 51,200 2003 $ 51,200 not affected increased
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