Score 033 of 1 pt Entering in other responses similar to HW

Score: 0.33 of 1 pt Entering in other responses (similar to) HW Score: 92.7996, 34.33 of 37 pts aestion Help *- 1. The problem statement will be above the blue line. Some of the data necessary to etc, may be contained in pepups within the problem 2The area above he blue line wn always remain visblo while you work on your question . The area below the blue line is where you enter your answerts) to save space. This exercise is not meant to assess your accounting knowledge and you ane not being sconed Wonk thraugh ts xiss to nsure a success ful experienos whon To begin, read the following probiem statement and then dick the ioons to see a typical set of popup dats in MyAccountingLab Notice that you can mave the and minimze them in order to still viow your workable soreen space Enter an incorrect answer in either of the input boxes and select he \'Check answer button at the bottom of the screen to see how you dd Now compute the current ratio as of March 31, 2014 and as of March 31, 2013 (Round to two decimal places) The current ratioisat March 31, 2014 ard i,atManh 31, 2013. 3 Clear Al 6

Solution

The question only want calculation of current ratio for 2013 and 2014

1) current ratio 2013 = Current Asset / Current Liability

                                   = 800 + 32100 + 33850 + 4600 / 41900 $

                                  = 71350 / 41900

                                   = 1.70 Times

2) Current ratio for 2014

                                        = 1000 + 28100 + 33000 + 5000 / 53900 $

                                        = 67100 / 53900 $

                                       = 1.245 Times

Because of reduction in current assst and increase in current liability the current ratio fall from 1.7 to 1.245 Times.

-No detailed step required in sol. though if you have doubt feel free to get in touch using comment section-