Affect Walton's Current Ratio, Quick Ratio & Working Capital
As of December 31, 2010, Walton Corporation had a current ratio of 1.84, quick ratio of 1.45, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. Indicate how the given transaction, if it occurred in January 2011, would affect Walton's current ratio, quick ra