On June 30, Year 3, Walton Company's total current assets were $500,500 and its total current...

 

Transcribed Image Text:

On June 30, Year 3, Walton Company's total current assets were $500,500 and its total current liabilities were $279,500. On July 1, Year 3, Walton issued a short-term note to a bank for $41,800 cash. Required a. Compute Walton's working capital before and after issuing the note. b. Compute Walton's current ratio before and after issuing the note. Note: Round your answers to 2 decimal places. Before the transaction a. Working capital + b. Current ratio After the transaction On June 30, Year 3, Walton Company's total current assets were $500,500 and its total current liabilities were $279,500. On July 1, Year 3, Walton issued a short-term note to a bank for $41,800 cash. Required a. Compute Walton's working capital before and after issuing the note. b. Compute Walton's current ratio before and after issuing the note. Note: Round your answers to 2 decimal places. Before the transaction a. Working capital + b. Current ratio After the transaction

Answer rating: 100% (QA)

a Before the transaction Working capital Total curr... View the full answer