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.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.
| .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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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
12th edition
007802529X, 1259969525, 978-1260565492
