On June 30, Year 3, Stuart Company's total current assets were $504,500 and its total current liabilities were $276,000. On July 1, Year 3, Stuart issued a long-term note to a bank for $39,800 cash. Required a. Compute Stuart's working capital before and after issuing the note. b. Compute Stuart's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) a. Working capital b. Current ratio Before the transaction After the transaction

On June 30, Year 3, Stuart Company's total current assets were $504,500 and its total current liabilities were $276,000. On July 1, Year 3, Stuart issued a long-term note to a bank for $39,800 cash. Required a. Compute Stuart's working capital before and after issuing the note. b. Compute Stuart's current ratio before and after issuing the note. (Round your answers to 1 decimal place.) a. Working capital b. Current ratio Before the transaction After the transaction

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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