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E13-13 Analyzing the Impact of Selected Transactions on the Current Ratio (LO4, LO5] SportChek is Canada's largest retailer of sporting goods and sports apparel and
E13-13 Analyzing the Impact of Selected Transactions on the Current Ratio (LO4, LO5] SportChek is Canada's largest retailer of sporting goods and sports apparel and footwear, with over 130 stores across the country. Assume one of the SportChek stores reported current assets of $84,000 and its current ratio was 1.79. Assume that the following transactions were completed: a. Paid $6,400 on accounts payable. b. Purchased a delivery truck for $8,000 cash. c. Wrote off a bad account receivable for $2,400. d. Paid previously declared dividends in the amount of $21,000. Required: Compute the updated current ratio. (Round your answers to 2 decimal places.) Current Ratio Transaction a. Transaction b. Transaction c. Transaction d
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