Business, 25.12.2019 19:31, kamster911

Acompany has current assets that total $500,000, has a current ratio of 2.00, and uses the perpetual inventory method. assume that the following transactions are then completed: (1) sold $12,000 in merchandise on short-term credit for $15,000, (2) declared but did not pay dividends of $50,000, (3) paid prepaid rent in the amount of $12,000, (4) paid previously declared dividends in the amount of $50,000, (5) collected an account receivable in the amount of $12,000, and (6) reclassified $40,000 of long-term debt as a current liability. compute the updated current ratios.

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Acompany has current assets that total $500,000, has a current ratio of 2.00, and uses the perpetual...