Q15

Use the information in the adjusted trial balance presented below to calculate the current ratio (current assets/current liabilities) for Taron Company: (Round your answer to two decimal places) Account Title Dr. Cr. Cash $ 23,000 16,000 6,600 Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment 100,000 $ 50,000 Land 95,000 17,000 Accounts payable Interest payable Unearned revenue Innotnom nntna nnointln Hata Reading li Account Title Dr. Cr. Cash $ 23,000 16,000 6,600 100,000 $ 50,000 95,000 Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Unearned revenue Long-term notes payable Retained earnings 17,000 2,400 5,000 30,000 136,200 $ 240,600 $ 240,600 Totals