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Document-'1 . Word Sign in Home Insert Draw De

Sign in File Home Insert Draw Design Layout References Document4 - Word Review View Help Tell me what you want to do Mailings Keener Incorporated had the following transactions occur involving current assets and current liabilities during February 2017. Feb. 3 Accounts receivable of $14,400 are collected. 7 11 14 18 Equipment is purchased for $27,200 cash. Paid $2,700 for a I-year insurance policy. Accounts payable of $11,400 are paid. Cash dividends of $5,300 are declared. Additional information: 1. As of February 1, 2017, current assets were $132,200, and current liabilities were $49,600. 2. As of February 1, 2017, current assets included $15,200 of inventory and $1,400 of prepaid expenses. (a) Compute the current ratio as of the beginning of the month and after each transaction. (b) Compute the acid-test ratio as of the beginning of the month and after each transaction. (Round answers to 1 decimal place, e.g. 1.6.) Current ratio Acid-test ratio February 1 February 3 February 7 February 11 February 14 February 18 Page 1 of 1 155 words o Type here to search L Share 11:34 AM 1/12/2018