Question
Preston Services financial accounting information for the year ending September 30,2018 is presented below. Assume all accounts have a normal balance. Cash 7500 Accounts Receievable
Preston Services financial accounting information for the year ending September 30,2018 is presented below. Assume all accounts have a normal balance.
Cash 7500
Accounts Receievable 2400
Merchandise Inventory 6000
Prepaid Insurance 1800
Equipment 35000
Accumulated Depreciation-Equipment 800
Accounts Payable 5100
Unearned Revenue 1100
Notes Payable 18000
Presto,Capital 27,700
The Notes payable is payable over three years and 6000 will be paid by September 30,2019
A) Prepare a classified balance sheet
B) Calculate the working capital for Preston Services
C) Calculate the current ratio for Preston services
D) Calculate the quick ratio for Preston Services
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A Sneak Peek Into The Auditing World A Day Of An Auditor
Authors: Anupma Aggarwal, Adv (Dr.) Raj Kumar S Adukia
1st Edition
1648997074, 978-1648997075
