The Ames Company reports $300,000 in current assets and $100,000 in current liabilities. At the very end

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The Ames Company reports $300,000 in current assets and $100,000 in current liabilities. At the very end of the year, the company pays a $20,000 account payable.

What was the current ratio before the payment?

What was the current ratio after the payment?

Related Book For answer-question

Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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Posted Date: Mar 24, 2024 10:37 PM

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The Ames Company reports $300,000 in current assets and $100,000 in current liabilities. At the very end

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To calculate the current ratio before and after the payment we need to divi... View the full answer

Principles of Accounting

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