7-0. Use your response to part 6 to calculate Barnett Allen's current ratio after the transactions listed in (a)-(e). 7-b. Compare Ethan Allen's current ratio at June 30, 2019 with its current ratio after the transactions listed in (a)-(e), and indicate whether the transactions increased or decreased the company's ability to pay current liabilities. Complete this question by entering your answers in the tabs below. Use your response to part 6 to calculate Barnett Nlen's current ratio after the transactions listed in (o) - (o). (Round your answer to 2 decimal places.) Required information PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Barnett Allen Interiors Incorporated is a leading manufacturer and retaller of home furnishings in the United States and abroad. The following is adapted from Barnett Allen's June 30,2019, trial balance. (The amounts shown represent millions of dollars.) Assume that the following events occurred in the following quarter. a. Paid $45 cash for additional inventory. b. Issued additional shares of common stock for $25 in cash. c. Purchased equipment for $230; paid $110 in cash and signed a note to pay the remaining $120 in two years. d. Signed a short-term note to borrow $11 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $42. 7-o. Use your response to part 6 to calculate Barnett Allen's current ratio after the transactions listed in (a)-(e). 7-b. Compare Ethan Allen's current ratio at June 30, 2019 with its current ratio after the transactions listed in (a)-(e), and indice whether the transactions increased or decreased the company's ability to pay current liabilities. Complete this question by entering your answers in the tabs below. Compore Ethan Allen's current ratio at June 30,2019 with its current ratio after the transactions listed in (a)-(e), and indicate whether the transactions increased or decreased the company's ability to pay current liabilities. Increased PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet [LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below]. Barnett Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Bamett Allen's June 30, 2019, triai balance. (The amounts shown represent millions of dollars.) Assume that the following events occurred in the following quarter a. Poid $45 cash for additional inventory. b. Issued additional shares of common stock for $25 in cash. c. Purchased equipment for $230; pald $110 in cash and signed a note to pay the remaining $120 in two years. d. Signed a short-term note to borrow $11 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost \$42. 7.0. Use yout fesponse to part 6 to calculate Bamett Allen's current ratio after the transactions listed in (a)-(e). 7.b. Compare Ethan Allen's current ratio at June 30,2019 with its current ratio after the transactions listed in (a)-(e) and indicate whether the transactions increased or decreased the company's ability to pay current liabilities. Complete this question by entering your answers in the tabs below. Use your response to part 6 to calculate Barnett Allen's current ratio after the transactions listed in (a)-(e). (Round your. answer to 2 decimal places.) 7-0. Use your response to part 6 to calculate Barnett Allen's current ratio after the transactions listed in (a)-(e). 7-b. Compare Ethan Allen's current ratio at June 30, 2019 with its current ratio after the transactions listed in (a)-(e), and indicate whether the transactions increased or decreased the company's ability to pay current liabilities. Complete this question by entering your answers in the tabs below. Use your response to part 6 to calculate Barnett Nlen's current ratio after the transactions listed in (o) - (o). (Round your answer to 2 decimal places.)
