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Ch20_P04B - 2.2 Acid-test ratio beginning of March 0.9 Mar...

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Fundamental Accounting Principles Student Name: Eleventh Canadian Edition, by Larson, Jensen, and Carroll Class: SPATS Problem 20-4B Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Ratios and Working Capital M1 M4:S35 Given Data V1
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REPORT REFERENCE Given Data V1 0 0 SPATS Problem 20-4B Mason Corporation Ratios and Working Capital Current Quick Current Current Acid-Test Working Transaction Assets Assets Liabilities Ratio Ratio Capital
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Given Data: Mason Corporation Current assets, beginning of March $286,000 Current ratio, beginning of March
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Unformatted text preview: 2.2 Acid-test ratio, beginning of March 0.9 Mar 3 Sold merchandise that cost $36,000 Received from sale of merchandise $55,000 Mar 5 Collected account receivable $35,000 Mar 10 Bought merchandise on account $56,000 Mar 12 Borrowed on 60-day, 12% note $60,000 Mar 15 Borrowed on long-term secured note $90,000 Mar 22 Bought machinery with proceeds of notes $150,000 Mar 24 Declared cash dividend 1.75 Shares of outstanding common shares 40,000 Mar 26 Wrote off bad debt $14,000 Mar 28 Paid account payable $45,000 Mar 30 Paid dividend ?...
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