The December 31, 2017, adjusted trial balance of Business Solutions (reflecting its transactions from October through December of 2017) follows.

No	Account Title	Debit			Credit
101	Cash	$	52,169
106	Accounts receivable		5,468
126	Computer supplies		650
128	Prepaid insurance		1,620
131	Prepaid rent		785
163	Office equipment		8,700
164	Accumulated depreciationOffice equipment				$	435
167	Computer equipment		22,800
168	Accumulated depreciationComputer equipment					1,425
201	Accounts payable					2,100
210	Wages payable					400
236	Unearned computer services revenue					2,100
301	S. Rey, Capital					65,000
302	S. Rey, Withdrawals		7,100
403	Computer services revenue					44,904
612	Depreciation expenseOffice equipment		435
613	Depreciation expenseComputer equipment		1,425
623	Wages expense		3,325
637	Insurance expense		540
640	Rent expense		2,355
652	Computer supplies expense		4,095
655	Advertising expense		2,613
676	Mileage expense		849
677	Miscellaneous expenses		220
684	Repairs expenseComputer		1,215
901	Income summary					0
	Totals	$	116,364		$	116,364

1. & 2. The following data are taken from the unadjusted trial balance of the Westcott Company at December 31, 2017. Complete the work sheet following adjustment. (Enter their balances in the correct Debit or Credit column.) Use the following adjustment information to complete the work sheet.

Depreciation on equipment, $13

Accrued salaries, $8

The $18 of unearned revenue has been earned

Supplies available at December 31, 2017, $21

Expired insurance, $12

WESTCOTT COMPANY

Partial Work Sheet

For the year ended December 31, 2017

Unadjusted Trial Balance

Adjustments

Adjusted Trial Balance

Account Title

Dr.

Cr.

Dr.

Cr.

Dr.

Cr.

Cash

$26

Accounts receivable

26

Supplies

46

Prepaid insurance

24

Equipment

61

Accumulated depreciationEquip.

$24

Accounts payable

12

Salaries payable

Unearned revenue

18

W. Westcott, Capital

45

W. Westcott, Withdrawals

17

Revenue

148

Depreciation expenseEquip.

Salaries expense

29

Insurance expense

Supplies expense

Utilities expense

18

Totals

$247

$247

$0

$0

$0

$0

Compute the current ratio in each of the following companies. (Round your answers to 2 decimal places.)

	Current Assets	Current Liabilities	Current Ratio
Edison	$85,000	$36,325
MAXT	113,050	87,522
Chatter	47,940	56,129
TRU	92,055	94,340
Gleeson	65,365	115,429

Identify the company with the strongest liquidity position. (These companies represent competitors in the same industry.)

Edison

MAXT

Chatter

TRU

Gleeson

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