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last time posting On January 1, 5G Co. reported current assets of $100,800 and current liabilities of $84,000. Compute total current assets, total current liabilities,
last time posting On January 1, 5G Co. reported current assets of $100,800 and current liabilities of $84,000. Compute total current assets, total current liabilities, and the current ratio at January 1 and after each of the following transactions, (Round current ratio to two decimal places. Amounts to be deducted should be indicated with a minus sign.) Jan. 5 Purchased equipment to be used in operations for $25,200 cash. Jan. 12 Paid $7,000 cash for accounts payable. Jan. 18 Acquired a building in exchange for a $138,600 long-tern note payable, first payment to occur in 3 years. Jan. 22 Purchased $16,800 of merchandise on credit, terms n/45. Jan. 31 Sold outdated machinery for $17,780 cash. Current Assets Current Liabilities Current Ratio 0 0 0 0 Date Jan 1 Jan. 5 Bal, Jan. 5 Jan. 12 Bal. Jan 12 Jan. 18 Bal. Jan. 18 Jan 22 Bal Jan 22 Jan. 31 Bal Jan 31 0 0 0 0 0 0
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