Financial accounting IronClad Devices Ltd. has current assets of $630,000 and currentliabilities of $250,000. The board of directors declares a cashdividend of $190,000.a. What is the current ratio after the declaration but beforepayment?b. What is the current ratio after the payment of the dividend?

Step 1: Definition of Current RatioCurrent Ratio is a widely used financial metric that evaluates a…

Answered: IronClad Devices Ltd. has current…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter21: The Statement Of Cash Flows

Section: Chapter Questions

Problem 7GI

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(d) A company has current assets of $608,000 and current liabilities of $245,000. The board of directors declares a cash dividend of $196,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend? (Round answers to 2 decimal places, e.g. 2.50.) Current ratio after the declaration but before payment 2.48 :1
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d) A company has current assets of $560,000 and current liabilities of $233,000. The board of directors declares a cash dividend of $169,000. What is the current ratio after the declaration but before payment? What is the current ratio after the payment of the dividend? (Round answers to 2 decimal places, e.g. 2.50.) Current ratio after the declaration but before payment enter the ratio rounded to 2 decimal places :1 Current ratio after the payment of the dividend enter the ratio rounded to 2 decimal places :1
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IronClad Devices Ltd. has current assets of $630,000 and current liabilities of $250,000. The board of directors declares a cash dividend of $190,000. a. What is the current ratio after the declaration but before payment? b. What is the current ratio after the payment of the dividend?