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The following information is from the June 30,2010, post-closing trial balance of Mike's Hardware Corporation. Prepare a Classified Balance Sheet. Find the current ratio. Due
The following information is from the June 30,2010, post-closing trial balance of Mike's Hardware Corporation. Prepare a Classified Balance Sheet. Find the current ratio. Due on or before the test day. Cash Short-Term Investments N/R A/R Merchandise Inventory Prepaid Rent Prepaid Insurance Sales-Supplies Office Supplies Deposits for Future Advertising Building, not in use Land Delivery EQ Accum. Depr. - Del. EQ Trademark / Salaries Payable Interest Payable Long term notes payable Common Stock Additional Paid in Capital Retained Earnings 32,000 33,000 10,000 276,000 145,000 1,600 4,800 1,280 440 3,680 49,600 23,400 41,200 28,400 4,000 114,600 5,200 1,840 80,000 22,000 160,000 213,960
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