WileyPLUS + 9 C o edugen wileyplus. com/eduger/It/main. Chapter 14 Exercise 14-8 Exercise Bri-5 Clwynn Incorporated had the following transactions...
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Weygandt, Managerial Accounting, 8e Practice: Chapter 14Exercise 14-8

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Gwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020.

Feb. 3 Collected accounts receivable of $15,700.

7Purchased equipment for $27,000 cash.

11Paid $4,000 for a 1-year insurance policy.

14Paid accounts payable of $12,100.

18Declared cash dividends, $4,800.


Additional information:


As of February 1, 2020, current assets were $132,080, and current liabilities were $50,800.

Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, e.g. 1.67.)



Current ratio

February 1 :1

February 3 :1

February 7 :1

February 11 :1

February 14 :1

February 18 :1

Image transcriptions

WileyPLUS + 9 C o edugen wileyplus. com/eduger/It/main.uni Return to Blackboard WileyPLUS Weygandy, Managerial Accounting, Be Help | System Announcements Practice: Chapter 14 Exercise 14-8 Exercise Bri-5 Clwynn Incorporated had the following transactions involving current assets and current liabilities during February 2020. Feb. 3 Collected accounts receivable of $15,700. Problem 14-45 Purchased equipment for $27,000 cash. 11 Paid $4,000 for a I-year insurance policy. Review Score 14 Paid necounts payable of $12,100. Review Results by budy in Declared cash dividends, $4,890. Additional information: As of February 1, 2020, current assets were $132,080, and current liabilities were $50,800. Compute the current ratio as of the beginning of the month and after each transaction, ( Hound answers to ] decimal places, e.g. 1of.) Current ratio February 1 Felauary 3 February 7 February 11 February 14 February 1H

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