Evans Inc. had current liabilities at April 30 of $66,100. The firm's current ratio at...

90.2K

Verified Solution

Question

Accounting

image
Evans Inc. had current liabilities at April 30 of $66,100. The firm's current ratio at that date was 1.8 . Required: a. Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $17,200 of accounts payable on April 29. Calculate the current ratio anc working capital at April 30 as if the April 29 payment had not been made. (Round "Current ratio" answer to 2 decimal places.) c. Identify the changes, if any, to working capital and the current ratio that would be caused by the April 29 payment

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students