Question
On December 31, Alberta supplies prepared an income statement and balance sheet before processing four adjusting entries. The income statement showed net income of $40,000.
On December 31, Alberta supplies prepared an income statement and balance sheet before processing four adjusting entries. The income statement showed net income of $40,000. The balance sheet showed total current assets $30,000, fixed assets 100,000; total liabilities $60,000; and owners capital $30,000.
Please calculate the following ratios: 1. Working Capital 2. Current Ratio
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Accounting Information And Equity Valuation Theory, Evidence, And Applications
Authors: Guochang Zhang
1st Edition
1461481597, 9781461481591
