Question: Please help me to correct my numbers and please show computations On June 30, 2018, Jordan Companys total current assets were $495,500 and its total

Please help me to correct my numbers and please show computations

On June 30, 2018, Jordan Companys total current assets were $495,500 and its total current liabilities were $276,000. On July 1, 2018, Jordan issued a long-term note to a bank for $39,600 cash.

Required

  1. Compute Jordans working capital before and after issuing the note.

  2. Compute Jordans current ratio before and after issuing the note. (Round your answers to 1 decimal place.)

Please help me to correct my numbers and please show computations On

Return to On June 30, 2018, Jordan Company's total current assets were $495,500 and its total current liabilities were $276,000. On July 1, 2018, Jordan issued a long-term note to a bank for $39,600 cash. Required 1.66 points a. Compute Jordan's working capital before and after issuing the note. b. Compute Jordan's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) 8.00-17.45 Answer is complete but not entirely correct. Working Capital Current Ratio Before the transaction $ 219,500 1.8 After the transaction $ 219,500 1.9 b

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!