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The following is the adjusted trial balance for Mandrake Inc. on September 30, 2023. The company opened on October 1, 2022. Account DEBIT CREDIT Cash
The following is the adjusted trial balance for Mandrake Inc. on September 30, 2023. The company opened on October 1, 2022.
Account | DEBIT | CREDIT |
---|---|---|
Cash | 10,000 | |
Accounts receivable | 14,000 | |
Prepaid insurance | 2,000 | |
Vehicles | 35,000 | |
Accumulated depreciation | 5,000 | |
Accounts payable | 12,000 | |
Interest payable | 200 | |
Unearned revenue | 1,500 | |
Note payable due September 30, 2025 | 30,000 | |
Common stock | 5,000 | |
Revenue | 50,000 | |
Expenses | 42,700 | |
Totals | 103,700 | 103,700 |
What was Mandrake's current ratio? (Round to one decimal place.)
What was Mandrake's profit margin? (Enter as a percentage rounded to one decimal place. Include the % sign. HINT: The decimal 0.25422) written as a percentage, one decimal place, is 25.4%)
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