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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: 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 ??? ??? 11,000 ??? Beginning Equity Investment Net income Drawing In/Decrease in equity Beginning Equity Investment Net loss Drawing In/Decrease in equity Ending Equity 850 8,000 24,000 ??? ??? Ending Equity
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