Homework Answers
ANSWER:
current ratio = current assets/current liabilities
| date | current ratio | reason |
|---|---|---|
|
2019 Feb 1 |
$132700/$34600 = 3.84 times | - |
| feb 3 | $132700/$34600 = 3.84 times | no change in currency assets or current liabilities as cash (current asset) is increased by the same amount accounts receivable (current liabilities) decreased. |
| feb 7 | $99500/$34600 = 2.88 times | cash & hence current assets decreased by $33200 |
| feb 11 | $99500/$34600 = 2.88 times | no change in currency assets or current liabilities as cash (current asset) is decreased by the same amount prepaid insurance (current asset) increased. |
| feb 14 | $84900/$20000 = 4.25 times | both. current assets & current liabilities decreased by $14600 |
| feb 18 | $84900/$28200 = 3.01 times | dividend payable & hence current liabilities increased by $8200 |
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