Answered step by step
Verified Expert Solution
Question
1 Approved Answer
From the given trial balance below, compute for the financial ratios. 1. Current Ratio - 2. Quick Raito - 3. Asset Turnover - 4. Debt
From the given trial balance below, compute for the financial ratios.
1. Current Ratio -
2. Quick Raito -
3. Asset Turnover -
4. Debt Ratio -
ABC Internet Shop Adjusted Trial Balance As of Dec, 31, 2016 10,325 13,600 3,800 11,000 100,000 9,000 250 Cash Accounts receivable Supplies Prepaid Insurance Land Office Equipment Accum Dep'n - Office equipt Accounts Payable Wages Payable Juan de la Cruz Capital Juan de la Cruz Drawing Fees earned Wages expense Rent expense Dep'n expense Utilities expense Supplies expense Insurance expense Misc expense TOTALS 4,500 2,450 125,000 20,000 84,800 22,625 8,000 250 4,925 10,200 1.000 2,275 217.000 217 000Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started