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Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Cash Debit $ 6,800 Credit 16,500 2,000 182,000
Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Cash Debit $ 6,800 Credit 16,500 2,000 182,000 Accounts receivable Office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable $ 37,492 75,000 10,800 Interest payable. Long-term notes payable 3,000 58,000 K. Wilson, Capital 166,660 K. Wilson, Withdrawals 19,000 127,000 24,182 59,563 6,985 10,922 $ 402,952 $ 402,952 Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Repairs expense Totals (a) Calculate the current ratio for Wilson Trucking. (b) Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligations" Complete this question by entering your answers in the tabs below.
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