Debit Credit Cash $31,000 Accounts Receivable 7,400 Prepaid Insurance 21,000 Accounts Payable $15,100 Salaries Payable 16,500 Common Stock 12,300 Service Revenue 73,000 Administrative Expenses 57,500 $116,900 $116,900 Using the above account balances, compute working capital and current ratio. Round "Current ratio" answer to two decimal places. A. Working capital B. Current ratio

Debit Credit Cash $31,000 Accounts Receivable 7,400 Prepaid Insurance 21,000 Accounts Payable $15,100 Salaries Payable 16,500 Common Stock 12,300 Service Revenue 73,000 Administrative Expenses 57,500 $116,900 $116,900 Using the above account balances, compute working capital and current ratio. Round "Current ratio" answer to two decimal places. A. Working capital B. Current ratio

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter24: Analysis Of Financial Statements

Section: Chapter Questions

Problem 10SPA: RATIO ANALY SIS OF COMPARATI VE FIN ANCIAL STATE MENT S Refer to the financial statements in Problem...

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