Problemon june 30 2018 perez companys total current assets, Ask an Expert

Accounting

Problem

On June 30, 2018, Perez Company's total current assets were $498,000 and its total current liabilities were $273,500. On July 1, 2018, Perez issued a short-term note to a bank for $40,600 cash.

Required

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

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

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92719800

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