ing current, quick, and debt to equity ratios LOZ duo. Refer to Appendix 111 for Indigo's Consolidated Balance Sheet as at March 1 Calculating countant al Inde the has assigned you the following tasks quick ratio, and debt to equity ratios for 2017 and 2018. Round your answer to Hur man be the current ratio we decimal places ent on the rations, the to know to get a bet be change between 2017 and 2018, and what additional information you would better picture of Indigo's financial performance sting, reversing, and subsequent cash entries los for Lewis Fitness Centre as of December 31, 2020 54 Ades sted trial balance Account Debit Credit $ 22,000 Accounts receivable Supplies Equipment 9.000 300.000 $ 30,000 48,000 100.000 116,500 60.000 Accumulated depreciation equipment Interest payable Salaries payable Linearned membership revenue... Notes payable Bev Lewis, capital Bev Lewis, withdrawals Membership revenue Depreciation expense, equipment.... Salaries expense. Interest expense Supplies expense Totals 180.000 76.000 7.500 $474,500 $474,500 Inkirmation necessary to prepare adjusting entries is as follows: As of December 31, employees have earned $1,600 of unpaid and unrecorded wages. The next payday is January 8, and the total wages to be paid will be $2,400. b. The cost of supplies on hand at December 31 is $3,600. c. The note payable requires an interest payment to be made every three months. The amount of unrecorded accrued interest at December 31 is $2,500, and the next payment is due on January 15. This payment will be $3,000. An analysis of the unearned membership revenue shows that $32,000 remains unearned at December 31. dition to the membership revenue included in the revenue account, the company has earned another revenue that will be collected on January 21. The company is also expected to collect $14,000 on the same day for new revenue during January. Depreciation expense for the year is $30,000. risk () identifies assignment material based on Appendix 4. CHAPTER 4 Completing the Accounting Cycle and Classifying Accounts Required 1. Prepare adjusting journal entries. 2. Prepare journal entries to reverse the effects of the adjusting entries that involve accruals. 3. Prepare journal entries to record the cash payments and collections that are described for January ALTERNATE PROBLEMS Problem 4-1B Completing a work sheet 101 excel CHECK FIGURE: 3. Adjusted trial balance columns = $99,307 The July 31, 2020, unadjusted trial balance for Daimler Tours after its first month of operations is show below: Daimler Tours Trial Balance.xlsx Home Insert Page Layout Formulas Data Review View P18 Tours
