Evans Incorporated had current llabilities at April 30 of $71,300. The firm's current ratio at that date was 1.9. Required: a. Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $16,800 of accounts payable on April 29. Calculate the current ratio and working capital at April 30- as if the April 29 payment had not been made. Note: 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. a. Current assots a. Working capital b. Current ratio b. Working capital c. Working capital c. Current ratio

Evans Incorporated had current llabilities at April 30 of $71,300. The firm's current ratio at that date was 1.9. Required: a. Calculate the firm's current assets and working capital at April 30. b. Assume that management paid $16,800 of accounts payable on April 29. Calculate the current ratio and working capital at April 30- as if the April 29 payment had not been made. Note: 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. a. Current assots a. Working capital b. Current ratio b. Working capital c. Working capital c. Current ratio

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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