Question

Sandhill Incorporated had the following transactions involving current assets and current liabilities during February 2025. Feb. 3 Collected accounts receivable of $10,700. 7 Purchased equipment for $21,960 cash. 11 Paid $4,100 for a 1-year insurance policy. 14 Paid accounts payable of $13,400. 18 Declared cash dividends of $5,400. Additional information: As of February 1, 2025, current assets were $128,100 and current liabilities were $36,600. Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83:1) Current ratio as of February 1, 2025 3.5 :1 Feb. 3 3.5 :1 Feb. 7 2.9 :1 Feb. 11 :1 Feb. 14 :1 Feb. 18 :1

          Sandhill Incorporated had the following transactions involving current assets and current liabilities during February 2025.
Feb. 3
Collected accounts receivable of $10,700.
7
Purchased equipment for $21,960 cash.
11
Paid $4,100 for a 1-year insurance policy.
14
Paid accounts payable of $13,400.
18
Declared cash dividends of $5,400.
Additional information:
As of February 1, 2025, current assets were $128,100 and current liabilities were $36,600.
Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83:1)
Current ratio as of February 1, 2025
3.5
:1
Feb. 3
3.5
:1
Feb. 7
2.9
:1
Feb. 11
:1
Feb. 14
:1
Feb. 18
:1

Sandhill Incorporated had the following transactions involving current assets and current liabilities during February 2025.
Feb. 3
Collected accounts receivable of 10,700.
7
Purchased equipment for21,960 cash.
11
Paid 4,100 for a 1-year insurance policy.
14
Paid accounts payable of13,400.
18
Declared cash dividends of 5,400.
Additional information:
As of February 1, 2025, current assets were128,100 and current liabilities were 36,600.
Compute the current ratio as of the beginning of the month and after each transaction. (Round answers to 2 decimal places, eg. 1.83:1)
Current ratio as of February 1, 2025
3.5
:1
Feb. 3
3.5
:1
Feb. 7
2.9
:1
Feb. 11
:1
Feb. 14
:1
Feb. 18
:1

Added by Tony H.

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