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On June 30, Year 3, Adams Company's total current assets were $502,000 and its total current liabilities were $278,500. On July 1, Year 3, Adams
On June 30, Year 3, Adams Company's total current assets were $502,000 and its total current liabilities were $278,500. On July 1, Year 3, Adams issued a long-term note to a bank for $41,800 cash. Required a. Compute Adams's working capital before and after issuing the note. b. Compute Adams'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 Current ratio b
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