SportChek is Canada's largest retailer of sporting goods and sports apparel and footwear, with over 130 stores across the country Assume one of the SportChek stores reported current assets of $78.000 and its current ratio was 185. Assume that the folowing transactions were completed a. Paid $7,000 on accounts payable b. Purchased a delivery truck for $5,000 cash. c. Wrote off a bad account receivable for $3,000 d. Paid previously declared dividends in the amount of $22.000 Required: Compute the updated current ratio. (Round your answers to 2 decimal places.) Current Ratio Transaction a Transaction b Transaction c Transaction d.

SportChek is Canada's largest retailer of sporting goods and sports apparel and footwear, with over 130 stores across the country Assume one of the SportChek stores reported current assets of $78.000 and its current ratio was 185. Assume that the folowing transactions were completed a. Paid $7,000 on accounts payable b. Purchased a delivery truck for $5,000 cash. c. Wrote off a bad account receivable for $3,000 d. Paid previously declared dividends in the amount of $22.000 Required: Compute the updated current ratio. (Round your answers to 2 decimal places.) Current Ratio Transaction a Transaction b Transaction c Transaction d.

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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