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Which of the listed actions would improve this ratio

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Question - Please write out the numbers, no spreadsheet please. Thanks!

a. General Hospital has a current ratio of 0.5. Which of the following actions would improve (increase) this ratio? (Hint: Complete a simple balance sheet that has a current ratio of 0.5. Then, judge how the following transactions would affect the balance sheet.)

Use cash to pay off current liabilities.

Collect some of the current accounts receivable.

Use cash to pay off some long-term debt.

Purchase additional inventory on credit (i.e., accounts payable).

Sell some of the existing inventory at cost (book value).

b. Now assume that General Hospital has a current ratio of 1.2. In this situation, which of the listed actions would improve this ratio?

Reference no: EM132535113

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