Burt Wilson Company reported these ratios at December 31, 2018 (dollar amounts in millions): Current...
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Burt Wilson Company reported these ratios at December 31, 2018 (dollar amounts in millions): Current ratio =$20$30=1.50 Debt ratio =$70$40=0.57 Burt Wilson Company completed these transactions during 2019: (Click the icon to view the transactions.) Read the requirement. Requirement 1. Determine whether each transaction improved or hurt the company's current ratio and debt ratio. a. Purchased equipment on account, \$6. (Review each transaction independently. Round calculations to two decimal places.) Currentratio= current ratio Debt ratio = debt ratio More info a. Purchased equipment on account, \$6 b. Paid long-term debt, $11 c. Collected cash from customers in advance, $2 d. Accrued interest expense, $1 e. Made cash sales, $12
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