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Please answer peoblem #8, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! Larkspur, Inc. had the following transactions involving current assets and current liabilities
Please answer peoblem #8, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!
Larkspur, Inc. had the following transactions involving current assets and current liabilities during February 2022. Feb. 3 7 11 Collected accounts receivable of $10,400. Purchased equipment for $42,900 cash. Paid $4,800 for a 1-year insurance policy. Paid accounts payable of $13,400. Declared cash dividends. $6,700. 14 18 Additional information: As of February 1, 2022, current assets were $133,500 and current liabilities were $35,500. Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal places, eg. 1.83: 1.) Current ratio as of February 1, 2014 :1 Feb. 3 :1 Feb. 7 1 Feb. 11 :1 Feb. 14 :1 Feb 18 :1 Step by Step Solution
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