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Norsk Optronics had a current ratio of 4 on June 30 of the current year. On that date, the company's assets were: Required: 1. What
Norsk Optronics had a current ratio of 4 on June 30 of the current year. On that date, the company's assets were: Required: 1. What was the company's working capital on June 30 ? 2. What was the company's acid-test ratio on June 30 ? Note: Round your answer to 2 decimal places. 3. The company paid an account payable of $41,000 immediately after June 30 . a. What effect did this transaction have on working capital? b. What effect did this transaction have on the current ratio? Note: Round your intermediate calculations to 1 decimal place
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