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9. The adjusted balances below pertain to July. < Revenue $42,000 - Accounts Payable $3,850 - Wages Payable $4,800 - Accumulated Depreciation $1,800- Prepaid Expense
9. The adjusted balances below pertain to July. < Revenue $42,000 - Accounts Payable $3,850 - Wages Payable $4,800 - Accumulated Depreciation $1,800- Prepaid Expense $2,000 - Cash $16,200 - Taxes Expense $500 - Loan $180,000 - Accounts Receivable $4,000 - Equipment $18,000 - Drawing $5,000 - Supplies $1,100-Phone Expense $350 - Capital $50,940- < Depreciation Expense $800 - Wages Expense $7,300 - Land $230,000 - Supply Expense $340- < Unearned Revenue $2,200 < Using the information above: < a. What is the current ratio:_ e b. What is the current ratio, if you sold $3,000 worth of equipment and paid off all of the Wages Payable 10. Calculate the missing numbers below Beginning Assets: 342,345 Ending Assets: 356,700+ Beginning Liabilities: 286,400 Ending Liabilities: 279,990 Beginning Assets: 14,500 Ending Assets: 32,900 Beginning Liabilities: 8,400 Ending Liabilities: 12,340+ Beginning Equity ???4 Beginning Equity ??? Investment 11,000 Investment ??? Net income ??? Net loss 850 Drawing 24,000 Drawing 8,000 In/Decrease in equity ??? In/Decrease in ??? equity Ending Equity ??? Ending Equity
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