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III Canvas Chapter 17 HW # 1 Assignment Effect of Transactions on Current Position Analysis Data pertaining to the current position of Lucroy Industries Inc.

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III Canvas Chapter 17 HW # 1 Assignment Effect of Transactions on Current Position Analysis Data pertaining to the current position of Lucroy Industries Inc. follow: $450,000 Marketable securities 172,500 Accounts and notes receivable (net) Inventories 700,000 Prepaid expenses 44,000 Cash 310,000 Canvas Prepaid expenses Accounts payable Notes payable (short-term) Accrued expenses Required: 44,000 230,000 245,000 315,000 1. Compute (a) the working capital, (b) the current ratio, and (c) the quick ratio. Round ratios to one decimal place. a. Working capital b. Current ratio Canvas > b. Current ratio c. Quick ratio 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions and record the results in the appropriate columns. Consider each transaction separately and assume that only that transaction affects the data given. Round ratios to one decimal place. Transaction Working Capital III Canvas Transaction Working Capital a. Sold marketable securities at no gain or loss, $75,000. b. Paid accounts payable, $145,000. C. Purchased goods on account, $105,000. d. Paid notes payable, $105,000. e. Declared a cash dividend, $135,000. f. Declared a common stock dividend on common null 1 Canvas Working Capital Current Ratio Quick Ratio ketable securities at no gain or loss, unts payable, $145,000. goods on account, $105,000. payable, $105,000. a cash dividend, $135,000. LOOD IIIII LIII Canvas e. Declared a cash dividend, $135,000. f. Declared a common stock dividend on common stock, $55,000. g. Borrowed cash from bank on a long-term note, $210,000. h. Received cash on account, $110,000. 1. Issued additional shares of stock for cash, $590,000. Canvas a cash dividend, $135,000. common stock dividend on common bo. II cash from bank on a long-term note, 0001 cash on account, $110,000. Hitional shares of stock for cash, Canvas h. Received cash on account, $110,000. i. Issued additional shares of stock for cash, $590,000. j. Paid cash for prepaid expenses, $14,000. 0 0 Check My Work 1 more Check My Work uses remaining Assignment Score: 0.0% Save and Exit Submit Assignment for Grading Canvas cash on account, $110,000. Hitional shares of stock for cash, 101 111 for prepaid expenses, $14,000. Check My Work 1 more Check My Work uses remaining Assignment Score: 0.0% sive and Exit Submit Assignment for Grading

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