Adjustment Debit Credit Worksheet Unadjusted Debit Credit 162,000 258,000 36,000 1,562,400 48,000 114,000 20.000 21,600 2,370 Cash Accounts Receivable Prepaid Insurance Equipment Uneamed Revenue Accounts Payable Salaries Payable Interest Payable Bank Loan Payable Common Shares Retained Earnings Dividend Declared Service Revenue Supplies Expense Salaries Expense Utilities Expense Interest Expense Insurance Expense Income Tax Expense Depreciation Expense (1562400/6*1/12) Accumulated Depreciation Total 474,000 25,000 519,000 Adjusted Debit Credit 162,000 258,000 36,000 1,562,400 28,000 114,000 21,600 2,370 474,000 25,000 519,000 55,000 1,437,400 23,000 389,600 9,000 23,370 70,000 33,000 21,700 21,700 2.643.070 2,643,070 55,000 1,417,400 20,000 21,600 23,000 368,000 9,000 21,000 70,000 33,000 2,370 21,700 21,700 65,670 2.597.400 2.597.400 65,670 Using the ratios you calculated for the two companies.... Round to one decimal if needed 1) Current ratio for the Levene Co. is 1.65 and for the Hill company is Levene's ratio is better or worse than Hill 2) Working capital for the Levene Co. is 227000 and for the Hill company is Levene's ratio is better or worse than Hill? 3) Debt to total assets for the Levene Co. is 41% % and for the Hill company is %. Levene's ratio is better or worse than Hill? Levene's ratio is better or worse than Hill? 3) Debt to total assets for the Levene Co. is 41% % and for the Hill company is %. Levene's ratio is better or worse than Hill? 4) Profit margin for the Levene Co. is 45% % and for the Hill company is %. Levene's ratio is better or worse than Hill ? 5) Accounts receivable turnover in days for the Levene Co. is 79 days and for the Hill company is days . Levene's ratio is better or worse than Hill? . Adjustment Debit Credit Worksheet Unadjusted Debit Credit 162,000 258,000 36,000 1,562,400 48,000 114,000 20.000 21,600 2,370 Cash Accounts Receivable Prepaid Insurance Equipment Uneamed Revenue Accounts Payable Salaries Payable Interest Payable Bank Loan Payable Common Shares Retained Earnings Dividend Declared Service Revenue Supplies Expense Salaries Expense Utilities Expense Interest Expense Insurance Expense Income Tax Expense Depreciation Expense (1562400/6*1/12) Accumulated Depreciation Total 474,000 25,000 519,000 Adjusted Debit Credit 162,000 258,000 36,000 1,562,400 28,000 114,000 21,600 2,370 474,000 25,000 519,000 55,000 1,437,400 23,000 389,600 9,000 23,370 70,000 33,000 21,700 21,700 2.643.070 2,643,070 55,000 1,417,400 20,000 21,600 23,000 368,000 9,000 21,000 70,000 33,000 2,370 21,700 21,700 65,670 2.597.400 2.597.400 65,670 Using the ratios you calculated for the two companies.... Round to one decimal if needed 1) Current ratio for the Levene Co. is 1.65 and for the Hill company is Levene's ratio is better or worse than Hill 2) Working capital for the Levene Co. is 227000 and for the Hill company is Levene's ratio is better or worse than Hill? 3) Debt to total assets for the Levene Co. is 41% % and for the Hill company is %. Levene's ratio is better or worse than Hill? Levene's ratio is better or worse than Hill? 3) Debt to total assets for the Levene Co. is 41% % and for the Hill company is %. Levene's ratio is better or worse than Hill? 4) Profit margin for the Levene Co. is 45% % and for the Hill company is %. Levene's ratio is better or worse than Hill ? 5) Accounts receivable turnover in days for the Levene Co. is 79 days and for the Hill company is days . Levene's ratio is better or worse than Hill
