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1.ComputeWestland'scurrentratio,debtratio,and earnings per share. Round all ratios to two decimal places. 2. Compute the three ratios after evaluating the effect of each transaction that follows.
| 1.ComputeWestland'scurrentratio,debtratio,and earnings per share. Round all ratios to two decimal places. | |
| 2. | Compute the three ratios after evaluating the effect of each transaction that follows. Consider each transactionseparately. |
| a. | Borrowed$ 100,000on along-termnote payable. |
| b. | On January1,Issued40,000shares of commonstock,receiving cash of$363,000. |
| c. | Paidshort-termnotespayable,$29,000. |
| d. | Purchased merchandise of$48,000onaccount,debiting Inventory. |
| e. | Received cash onaccount,$22,000. |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
