Answered: XYZ Company has current assets of…

XYZ Company has current assets of $1,200,000 and current liabilities of $400,000. The board declares a cash dividend of $300,000. What is the current ratio after the declaration but before payment?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...

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Question

Can you help me solve this general accounting problem using the correct accounting process?

XYZ Company has current assets of $1,200,000 and current
liabilities of $400,000. The board declares a cash dividend of
$300,000. What is the current ratio after the declaration but
before payment?

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