Check my werk 1 Halifax Fisheries Inc began the month of March with $780,000 of current assets, a current ratio of 25 to 1, and a quick ratio of 11 to 1 During the month, it completed the following transactions: Marhought 330, ce of marchandise on account. The company uses a perpetual inventory wsten) a 11 sold serchandise that cost 74,000 for $120,000 15 Collected 32,000 account receivable. 17 Faida 534,600 account payable 19 wrote off 516,000 bad debt against Allowance for Doubtful Accounts 24 Declared a $2.75 per share cash dividend on the 43,000 outstanding common shares 30 Paid the dividend declared on March 24 29 Borrowed 5100,000 by giving the bank 30-day, 20 note. 30 Borrowed $130,000 by signing a long-term secured hotel 31 Used the $230,000 proceeds of the notes to buy additional sachinery: speelt Required: Prepare a schedule showing Halifax Fisheries Inc's current ratio, quick ratio, and working capital after each of the transactions. (Round ratios to 2 decimal places and other final answers to nearest whole dollar) Current Assets Quick Assets Current Liabilities Current Ratio Quick Ratio Working Capital 1 1 Transaction Beginning Mar 6 Bal Mar 11 1 1 Assignment #7 - Chapters 16 17 due 04132022 Sav Help Save & E Suhmi 1 Check my work Mar 11 Bal Mar 15 10 points 1 Print 1 1 References Bal Mar 17 Bal Mar. 19 Bal Mar. 24 Bal Mar 28 Bal Mar 29 Bal Ma: 30 Bal Mar 31 Bai 1 1 Check my work Halifax Fisheries Inc began the month of March with $780,000 of current assets, a current ratio of 25 to 1, and a quick ratio of 11 to 1 During the month, it completed the following transactions: Mar. Hought $18,000 of merchandise on account. (The company uses a perpetual Inventory system.) 11 sold merchandise that cost 74,000 for $128,000. 15 Collected a 32,000 account receivable. 17 Paid a $34,000 account payable. 19 wrote off a $16,000 bad debt against Allowance for Doubtful Accounts. 24 Declared a 52.75 per share cash dividend on the 43,000 outstanding common shares. 28 Paid the dividend declared on March 24. 29 Borrowed 5100,000 by giving the bank a 38-day, 20% note. 3e Borrowed 5130,000 by signing a long-term secured note. 31 Used the $230,000 proceeds of the notes to buy additional machinery. Required: Prepare a schedule showing Halifax Fisheries Inc.'s current ratio, quick ratio, and working capital after each of the transactions. (Round ratios to 2 decimal places and other final answers to nearest whole doller.) Transaction Current Assets Quick Assets Current Liabilities Quick Ratio Current Ratio Working Capital 1 1 Beginning Mar 6 Bal Mar. 11 1 Check my 1 Mar 11 Bal Mar 15 oped Bal Mar. 17 Bal 1 Cook 1 1 cs 1 Mar. 19 Bal Mar 24 Bal Mar 28 Bal Mar 29 Bal Mar 30 1 1 Bal 1 Mar 31 Bal 7
