Question
December 31 Assets 2020 2019 Cash $ 9,000 $ 12,000 Accounts receivable 80,000 48,000 Equipment 32,000 20,000 Less: Accumulated depreciation (10,000) ( 5,000) Total $111,000
| December 31 |
| Assets | 2020 | 2019 |
| Cash | $ 9,000 | $ 12,000 |
| Accounts receivable | 80,000 | 48,000 |
| Equipment | 32,000 | 20,000 |
| Less: Accumulated depreciation | (10,000) | ( 5,000) |
| Total | $111,000 | $ 75 ,000 |
| Liabilities and Shareholders' Equity |
| Accounts payable | $ 20,000 | $ 15,000 |
| Note Payable due in 4 years | 12,000 | 0 |
| Common shares | 50,000 | 50,000 |
| Retained earnings | 29 ,000 | 1 0,000 |
| Total | $111,000 | $ 75 ,000 |
a)comment on this company's liquidity. (answer with one word only)
b)what ratio did you use to answer the previous question about liquidity? (1 word, 2 words or 3 words. spelling counts)
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Culture Audit In Financial Services Reporting On Behaviour To Conduct Regulators
Authors: Dr Roger Miles
1st Edition
1789667755, 978-1789667752
