Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal places, e.g. 1.83 : 1.) Current ratio as of Feb. 1, 2022 Enter the current ratio :1 3 Enter the current ratio :1 7 Enter the current ratio :1 11 Enter the current ratio :1 14 Enter the current ratio :1 18 Enter the current ratio :1
Compute the current ratio as of the beginning of the month and after each transaction. (Round all answers to 2 decimal places, e.g. 1.83 : 1.) Current ratio as of Feb. 1, 2022 Enter the current ratio :1 3 Enter the current ratio :1 7 Enter the current ratio :1 11 Enter the current ratio :1 14 Enter the current ratio :1 18 Enter the current ratio :1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Windsor, Inc. had the following transactions involving current assets and current liabilities during February 2022.
| Feb. 3 | Collected |
|
| 7 | Purchased equipment for $36,200 cash. | |
| 11 | Paid $5,500 for a 1-year insurance policy. | |
| 14 | Paid accounts payable of $13,400. | |
| 18 | Declared cash dividends, $6,400. |
Additional information:
As of February 1, 2022, current assets were $133,940 and current liabilities were $36,200.
Compute the
|
Current ratio as of
|
||||
|---|---|---|---|---|
|
Feb. 1,
|
2022
|
Enter the current ratio
|
:1 | |
|
3
|
Enter the current ratio
|
:1 | ||
|
7
|
Enter the current ratio
|
:1 | ||
|
11
|
Enter the current ratio
|
:1 | ||
|
14
|
Enter the current ratio
|
:1 | ||
|
18
|
Enter the current ratio
|
:1 |
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