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Unadjusted Trial Balance January 31 Credit Debit $ 19,150 14,000 5,500 2,400 43,000 $ 19,350 13,000 4,000 28,000 2,200 115,400 Cash Merchandise inventory Store supplies
Unadjusted Trial Balance January 31 Credit Debit $ 19,150 14,000 5,500 2,400 43,000 $ 19,350 13,000 4,000 28,000 2,200 115,400 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Sales salaries expense Office salaries expense Insurance expense Rent expense-selling space Rent expense-Office space Store supplies expense Advertising expense Totals 2,000 2,200 38,000 0 12,650 12,650 0 8,000 8,000 10,000 $ 179,750 $ 179,750 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,750. b. Expired insurance, an administrative expense, is $1,600 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,525 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,200 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.) :1 Current ratio Acid-test ratio Gross margin ratio 1.47:1 1
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