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Question Data pertaining to the current position of Forte Company are as follows: 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place. Cash $427,500 Marketable securities 172,500 Accounts and notes receivable (net) 335,000 Inventories 700,000 Prepaid expenses 48,000 Accounts payable 210,000 Notes payable (short-term) 255,000 Accrued expenses 300,000

Question Data pertaining to the current position of Forte Company are as follows: 2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place. Cash $427,500 Marketable securities 172,500 Accounts and notes receivable (net) 335,000 Inventories 700,000 Prepaid expenses 48,000 Accounts payable 210,000 Notes payable (short-term) 255,000 Accrued expenses 300,000

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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Data pertaining to the current position of Forte Company are as follows:

2. Compute the working capital, the current ratio, and the quick ratio after each of the following transactions, and record the results in the appropriate columns of the table provided. Consider each transaction separately and assume that only that transaction affects the data given. Round to one decimal place.

Cash

$427,500

Marketable securities

172,500

Accounts and notes receivable (net)

335,000

Inventories

700,000

Prepaid expenses

48,000

Accounts payable

210,000

Notes payable (short-term)

255,000

Accrued expenses

300,000

 

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