1. Based only on the following information for Ortiz Corp., did cash go up or down? By how much? Classify each event as

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1 Based Only On The Following Information For Ortiz Corp Did Cash Go Up Or Down By How Much Classify Each Event As 1 (42.28 KiB) Viewed 124 times

1. Based only on the following information for Ortiz Corp., did cash go up or down? By how much? Classify each event as a source or use of cash. Decrease in inventory $425 Decrease in accounts payable 230 Increase in notes payable 280 Increase in accounts receivable 290 2. What effect would the following actions have on a firm's current ratio? Assume that net working capital is positive. A. Inventory is purchased. B. A supplier is paid. C. A short-term bank loan is repaid. D. A long-term debt is paid off early. E. A customer pays off a credit account. F. Inventory is sold at cost. G. Inventory is sold for a profit.