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I need help with the closing entries, post closing trial balance, computing acid test ratio, current ratio and gross margin ratio as of jan 31,2008.
I need help with the closing entries, post closing trial balance, computing acid test ratio, current ratio and gross margin ratio as of jan 31,2008.
Compuute earnings per share below income statement if company has 1000 shares of stock
You are provided with the unadjusted trial balance for Rex company as of January 31, 2005. Before you can proceed, there are unrecorded transactions. for December that you are required to journalize and have update the general account balances. Once completed you will then a new unadjusted trial balance to move to the worksheet and complete the following items. January 31 200 2,200 11.500 I i Merchandise invenlory 4,800 Store supplies 2,300 Prepaid insurance 41,900 Store equipment 15,000 7 Accumulated depreciation-store equipment i Accounts payable i Common stock 27,000 3 Retained earnings 2.000 Dividends 104.000 1,000 Sales discounts 3 2,000 Sales returns and atowances 37,400 Cost of good sold Depreciation expense Store equipment 31.000 Salaries expense Insurance expense 14,000 lo Rent expense Store supplies expense 9.900 1 Advertising expense $160,000 $160,000 Totals
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