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Please just tell me the ratios after each transaction. Assume current assets totaled $50,000 and the current ratio was 12 before the following independent transactions:
Please just tell me the ratios after each transaction.
Assume current assets totaled $50,000 and the current ratio was 12 before the following independent transactions: (1) Purchased merchandise for $14,000 on short-term credit. (2) Purchased a delivery truck for $21,000. Paid $8,000 cash and signed a two-year interest-bearing note for the balance Required: Compute the current ratio after each independent transaction. (Round your answers to 2 decimal places.) Current Ratio Transaction (1) (2) Step by Step Solution
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