Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title...

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Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Cash Accounts rece

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Answer 1

Answer #1

Formula of current ratio is:

Current ratio = Current assets / Current liabilities

Current assets = Cash + accounts receivable + office supplies

Current assets = $8100 + $16500 + $2000 = $26600

Current liabilities = Accounts payable + Interest payable

Current liabilities = $12100 + $3000 = $15100

Now, putting these values in the above current ratio formula, we get,

Current ratio = $26600 / $15100 = 1.76

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Answer 2

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