To what extent was Francis Equipment Co. able to show a more favorable balance sheet at...

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To what extent was Francis Equipment Co. able to show a more favorable balance sheet at December 31 by holding its cash book open? (Compute working capital and the current ratio.) Assume that the balance sheet that was prepared by the company showed the following amounts: Per Balance Sheet After Adjustment Debit Credit Credit Current assets Cash Receivables Inventories Totals: Current Liabilities Accounts Payable Other Current Liabilities Totals: Working capital Current ratio: $39,000 42,000 67,000 $148,000 Formula to 1 $45,000 14,200 $59,200 Formula Debit Amount Amount Amount Formula Formula to 1 Amount Amount Formula Formula To what extent was Francis Equipment Co. able to show a more favorable balance sheet at December 31 by holding its cash book open? (Compute working capital and the current ratio.) Assume that the balance sheet that was prepared by the company showed the following amounts: Per Balance Sheet After Adjustment Debit Credit Credit Current assets Cash Receivables Inventories Totals: Current Liabilities Accounts Payable Other Current Liabilities Totals: Working capital Current ratio: $39,000 42,000 67,000 $148,000 Formula to 1 $45,000 14,200 $59,200 Formula Debit Amount Amount Amount Formula Formula to 1 Amount Amount Formula Formula

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