Refer to the trial balance information in BE 3 5 Calculate the (a) Current ratio, (b) Acid test ratio, and (c) Debt to equity ratio The following is a December 31, 2011, post closing trial balance for Culver City Lighting, Inc Prepare a classified balance sheet for the company ...

a Current assets current liabilities 55000 39000 45000 15000 12000 2000 10000 154000 24000 642 b C ...

Refer to the trial balance information in BE 3-5. Calculate the (a) Current ratio, (b) Acid-test ratio,

Question:

Refer to the trial balance information in BE 3-5.

Calculate the

(a) Current ratio,

(b) Acid-test ratio, and

The following is a December 31, 2011, post-closing trial balance for Culver City Lighting, Inc. Prepare a classified balance sheet for the company.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...