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lon Sep 28 © 49% AA v2.cengagenow.com My Home My Home X CengageNOWv2 | Online teaching... HMWK Working Capital and Current Ratio Current assets and current liabilities for Sandstone Company follow: 20Υ9 20Y8 ALGO Current assets $2,133,800 $1,613,300 Current liabilities 940,000 730,000 ALGO a. Determine the working capital and current ratio for 20Y9 and 20Y8. If required, round "current ratio" answers to two decimal places. 20Y9 20Υ8 Working capital $4 Current ratio b. Is the change in the current ratio from 20Y8 to 20Y9 favorable or unfavorable? Favorable Feedback ALGO Check My Work ALGO a. Remember that current assets are compared to current liabilities to see if current obligations can be paid off with current resources. This is expressed by a dollar amount and by a ratio. LGO LGO b. Increases are considered favorable and decreases are considered unfavorable. LGO LGO %24

lon Sep 28 © 49% AA v2.cengagenow.com My Home My Home X CengageNOWv2 | Online teaching... HMWK Working Capital and Current Ratio Current assets and current liabilities for Sandstone Company follow: 20Υ9 20Y8 ALGO Current assets $2,133,800 $1,613,300 Current liabilities 940,000 730,000 ALGO a. Determine the working capital and current ratio for 20Y9 and 20Y8. If required, round "current ratio" answers to two decimal places. 20Y9 20Υ8 Working capital $4 Current ratio b. Is the change in the current ratio from 20Y8 to 20Y9 favorable or unfavorable? Favorable Feedback ALGO Check My Work ALGO a. Remember that current assets are compared to current liabilities to see if current obligations can be paid off with current resources. This is expressed by a dollar amount and by a ratio. LGO LGO b. Increases are considered favorable and decreases are considered unfavorable. LGO LGO %24

FINANCIAL ACCOUNTING
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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lon Sep 28 © 49% AA v2.cengagenow.com My Home My Home X CengageNOWv2 | Online teaching... HMWK Working Capital and Current Ratio Current assets and current liabilities for Sandstone Company follow: 20Υ9 20Y8 ALGO Current assets $2,133,800 $1,613,300 Current liabilities 940,000 730,000 ALGO a. Determine the working capital and current ratio for 20Y9 and 20Y8. If required, round "current ratio" answers to two decimal places. 20Y9 20Υ8 Working capital $4 Current ratio b. Is the change in the current ratio from 20Y8 to 20Y9 favorable or unfavorable? Favorable Feedback ALGO Check My Work ALGO a. Remember that current assets are compared to current liabilities to see if current obligations can be paid off with current resources. This is expressed by a dollar amount and by a ratio. LGO LGO b. Increases are considered favorable and decreases are considered unfavorable. LGO LGO %24
Transcribed Image Text:lon Sep 28 © 49% AA v2.cengagenow.com My Home My Home X CengageNOWv2 | Online teaching... HMWK Working Capital and Current Ratio Current assets and current liabilities for Sandstone Company follow: 20Υ9 20Y8 ALGO Current assets $2,133,800 $1,613,300 Current liabilities 940,000 730,000 ALGO a. Determine the working capital and current ratio for 20Y9 and 20Y8. If required, round "current ratio" answers to two decimal places. 20Y9 20Υ8 Working capital $4 Current ratio b. Is the change in the current ratio from 20Y8 to 20Y9 favorable or unfavorable? Favorable Feedback ALGO Check My Work ALGO a. Remember that current assets are compared to current liabilities to see if current obligations can be paid off with current resources. This is expressed by a dollar amount and by a ratio. LGO LGO b. Increases are considered favorable and decreases are considered unfavorable. LGO LGO %24
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