Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 15 Aug 2017 My Price 5.00

Evans, Inc.,

Effect of transactions on working capital and current ratio Evans, Inc., had current liabilities at April 30 of $120,500. The firm’s current ratio at that date was 1.8.

Required:

a.       Calculate the firm’s current assets and working capital at April 30.

b.      Assume that management paid $30,125 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 your current ratio answer to two decimal places.

c.       Explain the changes, if any, to working capital and the current ratio that would be caused by the April 29 payment.

Answers

Maurice Tutor
(5)
Status NEW Posted 15 Aug 2017 11:08 AM My Price 5.00

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