Effect of transactions on current position analysis
Data pertaining to the current position of Lucroy Industries Inc. follow:
Required:
Compute a ?the working capital, b ?the current ratio, and c ?the quick ratio. Round ratios to one decimal place.
a ?Working capital
b ?Current ratio
c ?Quick ratio
decimal place.
Transaction
a ?Sold marketable securities at no gain or loss, $
$
b ?Paid accounts payable, $
d ?Paid notes payable, $
e ?Declared a cash dividend, $
f ?Dedared a common stock dividend on common stock, $
g ?Borrowed cash from bank on a longterm note, $
h ?Received cash on account, $
i ?Issued additional shares of stock for cash, $
j ?Paid cash for prepaid expenses, $
