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E13-11 Analyzing the Impact of Selected Transactions on the Current Ratio (LO 13-4, LO 13.5) points In Its most recent annual report, Appalachian Beverages reported
E13-11 Analyzing the Impact of Selected Transactions on the Current Ratio (LO 13-4, LO 13.5) points In Its most recent annual report, Appalachian Beverages reported current assets of $54.000 and a current ratio of 1.80. Assume that the following transactions were completed: U purchased merchandise for $6.000 on account and 2) purchased a delivery truck for $10,000, paying $1.000 cash and signing a two-year promissory note for the balance Required: Compute the updated current ratio after each transaction, by showing the cumulative effects of the transactions in the following table. (Round your answers to 2 decimal places.) Current Ratio Transaction (1) Transaction (2) References
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