Question
These financial statement items are for Jordan Company at year-end, July 31, 2012. Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800 Cash
These financial statement items are for Jordan Company at year-end, July 31, 2012.
Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800
Cash 14,200 Accounts receivable 9,780
Equipment 30,400 Accumulated depreciationequip. 6,000
Accounts payable 4,100 Service Revenue 10,000
Common stocks 31,900 Rent Expense 1,000
Dividends 500
Instructions
(A) Prepare a classified balance sheet at July 31.
(B) please find liquidity ratio, working capital, solvency ratio.
These financial statement items are for Jordan Company at year-end, July 31, 2012.
Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800
Cash 14,200 Accounts receivable 9,780
Equipment 30,400 Accumulated depreciationequip. 6,000
Accounts payable 4,100 Service Revenue 10,000
Common stocks 31,900 Rent Expense 1,000
Dividends 500
Instructions
(A) Prepare a classified balance sheet at July 31.
(B) please find liquidity ratio, working capital, solvency ratio.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Active Auditing A Practical Guide To Lean And Agile Auditing
Authors: Prescott Coleman, Sandy Kasahara
1st Edition
1092839305, 978-1092839303
