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On June 30, 2018, Walton Company's total current assets were $502,000 and its total current liabilities were $278,000. On July 1, 2018, Walton issued a
On June 30, 2018, Walton Company's total current assets were $502,000 and its total current liabilities were $278,000. On July 1, 2018, Walton issued a long-term note to a bank for $38,400 cash. Required a. Compute Walton's working capital before and after issuing the note. b. Compute Walton's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) Before the transaction After the transaction a. Working Capital b. Current Ratio
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