Halston Consulting Company reported these ratios at December 31, 2016 (dollar amounts in millions): Halston Consulting completed
Question:
Halston Consulting completed these transactions during 2017:
a. Purchased equipment on account, $8
b. Paid long-term debt, $10
c. Collected cash from customers in advance, $5
d. Accrued interest expense, $2
e. Made cash sales, $ 12
Determine whether each transaction improved or hurt the business's current ratio and debt ratio.
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Related Book For
Financial Accounting
ISBN: 978-0134127620
11th edition
Authors: Walter Harrison, Charles Horngren, William Thomas, Wendy Tietz
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