Question Data pertaining to the current position of Forte Company are as follows: 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place. Cash $427,500 Marketable securities 172,500 Accounts and notes receivable (net) 335,000 Inventories 700,000 Prepaid expenses 48,000 Accounts payable 210,000 Notes payable (short-term) 255,000 Accrued expenses 300,000
Question Data pertaining to the current position of Forte Company are as follows: 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place. Cash $427,500 Marketable securities 172,500 Accounts and notes receivable (net) 335,000 Inventories 700,000 Prepaid expenses 48,000 Accounts payable 210,000 Notes payable (short-term) 255,000 Accrued expenses 300,000
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 6BE
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Data pertaining to the current position of Forte Company are as follows:
2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place.
Cash |
$427,500 |
Marketable securities |
172,500 |
Accounts and notes receivable (net) |
335,000 |
Inventories |
700,000 |
Prepaid expenses |
48,000 |
Accounts payable |
210,000 |
Notes payable (short-term) |
255,000 |
Accrued expenses |
300,000 |
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