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The accounts of Mountain Lodge Services, Inc., at January 31, 2018, are listed in alphabetical order. : (Click the icon to view the accounts.) The
The accounts of Mountain Lodge Services, Inc., at January 31, 2018, are listed in alphabetical order. : (Click the icon to view the accounts.) The Retained Earnings T-account is shown below: (Click the icon to view the T-account.) Read the requirements Requirement 1. Prepare the company's classified balance sheet at January 31, 2018. Complete the assets section in the first step, followed by the liabilities section in the second step, and the shareholders' equity section in the third step. (If a box is not used in the balance sheet leave the box empty; do not select a label or enter a zero.) Mountain Lodge Services, Inc. Balance Sheet January 31, 2018 Assets . Data Table Reference x $ 1,000 13,800 16,500 13,600 5,900 Expenses Dividends Retained Earnings 45,400 Balance, January 31, 2017 11,000 Revenue Balance January 31, 2018 91,500 48.900 Less: 13,800 Accounts payable Accounts receivable Accumulated depreciation, equipment Advertising expense Cash Common stock Current portion of long-term note payable Depreciation expenseequipment Dividends declared Equipment 12.800 Interest expense 17,000 Note payable, long term Other assets, long-term 6,800 Prepaid expenses 10,600 Retained earnings 17,200 January 31, 2017 9.900 Salary expense Salary payable 1,100 Service revenue 2,000 Supplies 11,000 Supplies expense 43.500 Unearned service revenue Print Done 27,800 2,400 91,500 Liabilities 4,000 4.000 2,800 Print Done Choose from any list or enter any number in the input fields and then continue to the next question. The accounts of Mountain Lodge Services, Inc., at January 31, 2018, are listed in alphabetical o (Click the icon to view the accounts.) Less: Liabilities IN Stockholders' Equity Requirement 2. Calculate Mountain Lodge's net working capital, current ratio, and debt ratio at January 31, 2018, rounding to two decimal places. At January 31, 2017, net working capital was $24,600, the current ratio was 1.75, and the debt ratio was 0.20. Did Mountain Lodge's ability to pay both current and total debts improve or deteriorate during the fiscal year? Evaluate Mountain Lodge's debt position as strong or weak and give your reason. Compute Mountain Lodge's net working capital at January 31, 2018. Net working capital Compute Mountain Lodge's current ratio at January 31, 2018. (Round your calculation to two decimal places.) Current ratio Now calculate Mountain Lodge's debt ratio at January 31, 2018. (Round your calculation to two decimal places.) Debt ratio Mountain Lodge's overall ability to pay current liabilities with current assets has during 2018. Mountain Lodge's overall debt position has because the debt ratio has Overall, Mountain Lodge's debt position is because its debt ratio
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