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- tcos a and d the following items are taken from...
Question: tcos a and d the following items are taken from...
Question details
(TCOs A and D) The following items are taken from the financial
statements of SRW Company for 2015.
|
Cash |
$375,000 |
|
Accounts Receivable |
125,000 |
|
Prepaid Insurance |
100,000 |
|
Accounts Payable |
88,000 |
|
Unearned Service Revenue |
15,000 |
|
Equipment, Net of Accumulated Depreciation |
177,000 |
|
Common Stock |
125,000 |
|
Retained Earnings 12/31/2011 |
106,000 |
|
Long-Term Debt |
336,500 |
|
Service Revenue |
225,000 |
|
Cost of Goods Sold |
62,500 |
|
Rent Expense |
30,000 |
|
Supplies Expense |
8,000 |
|
Insurance Expense |
18,000 |
Instructions
(a) Please create a classified balance sheet in good form for the
year ended 2015. (25 points)
(b) Please calculate the current ratio. (5 points)
Solution by an expert tutor
