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Hello, may you please use the attached Trial Balance to tell me which of the following is the correct Current Ratio of Pringles Stores at
Hello, may you please use the attached Trial Balance to tell me which of the following is the correct Current Ratio of Pringles Stores at 31 December 2021: a) 3.51: 1 b) 2.80: 1 c) 7.89: 1 d) 2.03: 1 *May you please showame which accounts you used and how you calculated it, basically the working for this ratio.
Thank you
\begin{tabular}{|c|c|c|} \hline \begin{tabular}{l} Pringles \\ Stores \end{tabular} & & \\ \hline \begin{tabular}{l} Trial \\ Balance at 31 \\ December 20 \\ 21 \end{tabular} & Debit Rand & Credit Rand \\ \hline \begin{tabular}{l} Accounts \\ payable \end{tabular} & & 9000 \\ \hline \begin{tabular}{l} Accounts \\ receivable \end{tabular} & 71000 & \\ \hline \begin{tabular}{l} Accumulated \\ depreciation, \\ equipment \end{tabular} & & 17000 \\ \hline \begin{tabular}{l} Accumulated \\ depreciation, \\ motor vehicle \end{tabular} & & 20000 \\ \hline \begin{tabular}{c} Bank \\ overdraft \end{tabular} & & 35000 \\ \hline Capital & & 501000 \\ \hline \begin{tabular}{l} Cost of \\ sales \end{tabular} & 651000 & \\ \hline Drawings & 160000 & \\ \hline \begin{tabular}{l} Equipment, \\ at cost \end{tabular} & 105000 & \\ \hline Inventory & 52000 & \\ \hline \begin{tabular}{l} Motor \\ vehicle, cost \end{tabular} & 195000 & \\ \hline \begin{tabular}{c} Other \\ expenses \end{tabular} & 100000 & \\ \hline \multirow[t]{2}{*}{ Sales } & & 752000 \\ \hline & 1334000 & 1334000 \\ \hline \end{tabular}Step by Step Solution
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