Compute thorpes working capital before and after issuing, Ask an Expert

Accounting

On June 30, 2008, Thorpe Company's total current assets were $250,000 and its total current liabilities were $125,000. On July 1, 2008, Thorpe issued a short-term note to a bank for $25,000 cash.

Required:

Compute Thorpe's working capital before and after issuing the note.

Compute Thorpe's current ratio before and after issuing the note.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9414260

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