A company's trial balance included the following account balances: Accounts Payable $ 19,397 Accounts Receivable 81,526...
A company's trial balance included the following account
balances:
| Accounts Payable | $ | 19,397 | |
| Accounts Receivable | 81,526 | ||
| Cash | 73,514 | ||
| Income Tax Payable | 3,702 | ||
| Inventory | 26,006 | ||
| Note Payable, due in two years | 1,899 | ||
| Equipment | 56,028 | ||
| Stockholders’ Equity | 204,708 | ||
| Supplies | 5,702 | ||
| Wages Payable | 13,070 | ||
What is the amount of the current ratio?
Homework Answers
| Current Assets = Account receivables+cash+inventory +supplies | ||||
| =$81526+73514+26006+5702 | ||||
| =$186748 | ||||
| Current Liabilities = Account payable + Income tax payable + wages payable | ||||
| =$19397+3702+13070 | ||||
| =36169 | ||||
| Current Ratio = Current Assets / Current Liabilities | ||||
| = $186748/36169 | ||||
| =5.16 times | ||||
Add Answer to:
A company's trial balance included the following account
balances:
Accounts Payable
$
19,397
Accounts Receivable
81,526...
multiple choice answers a. 5.22 b. 1.00 c. 5.00 d. 2.02 A company's trial balance included...
multiple choice answers
a. 5.22
b. 1.00
c. 5.00
d. 2.02
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multiple choice answers
a. 5.22
b. 1.00
c. 5.00
d. 2.02
A company's trial balance included the following account balances: Accounts Payable Accounts Receivable Cash Income Tax Payable Inventory Note Payable, due in two years Equipment Stockholders' Equity Supplies Wages Payable $ 19, 207 81,336 73, 324 3,512 25,816 1,709 54,128 202,808 5,512 12,880 What is the amount of the current ratio? (Round your answer to 2 decimal places.) Hasbro, Inc., produces products under several brands including Transformers, Nerf, My...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
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