Hi, please help with question 20, 23, 24 and 25. Please provide the detailed solution of how you get these answers in EXCEL format. Please make sure that you will answer all of these four questions. Thank you!

a. $570,000 $400,000 c. $340,000 d. $290.000 16. Use the following data to calculate the current ratio. Carne Auto Supplies Balance Sheet December 31, 2014 EJKI S 65,000 10,000 90,000 $165,000 Accounts payable $ 35,000 Cash and wages payable Accounts receivable Mortgage payable Total liabilities Ived insurance 40,000 80,000 Stock investments 95,000 $120,000 250,000 $370,000 Land Common stock $100,000 Buildings Less: Accumulated nings Re Total stockholders' equity 85,000 (30,000) depreciation Total liabilities and stockholders' equity T $535,000 Total assets $535,000 a. 2.07 1 1.67 1 3.00: 1 b d. 2.60 1 Chapter 3 A credit means that an account has been increased. 17 An increase in an asset is recorded by a debit. 18 The complete effect of a transaction on the accounts is disclosed in the journal. 19 f total liabilities decreased by $4,000, then stockholders' equity must have decreased by $4,000 assets must have decreased by $4,000, or stockholders' equity must have increased 20 a by $4,000 assets and stockholders' equity each increased by $2,000. d. assets must have increased by $4,000 C 21.lf services are rendered for cash, then a assets will increase. liabilities will increase stockholders' equity will decrease. C d. liabilities will decrease. Which of the following items has no effect on retained earnings? 22. a. Expense b. Dividends t nd purchase evenue 23. Barnes Company showed the following balances at the end of its first year: $14.000 700 Cash Prepaid insurance Accounts receivable Accounts payable 2 ROO 4,200 5,400 Common stock 700 Dividends Revenues 24,000 17,500 Expenses What did Barnes Company show as total credits on its trial balance? a. $37,100 b. $36,400 c. $35,700 d. $37,800 24. At June 1, 2014, Massoth Industries had an Accounts Receivable balance of $18,000. During the month, the company had credit sales of $25,000 and collected Accounts Receivable of $27,000. What is the balance in Accounts Receivable at June 30, 2014? Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. 25. Owner invested $60,000 in exchange for common stock of the corporation Hired an employee to be paid $400 Paid two years' rent in advance, $7,200. Paid the worker's weekly wage Recorded service revenue earned and received for the week, $1,500. 1 2 week, starting tomorrow. 4 5