Calculate end of line montana refrigerations current ratio

Assignment Help Financial Accounting

Reference no: EM133494933

Case: End of the Line Montana Refrigeration has these account balances at December 31, 2018.

Notes Payable, Long-term $9,200

Prepaid Rent - $2500

Salaries Payable $2,600

Service Revenue $15,600

Office Supplies $1,300

Accumulated Depreciation - Equipment $4,000

Advertising Expense $900

Accounts Payable $3,600

Accounts Receivable $6,600

Cash $3,500

Depreciation Expense - Equipment $400

Equipment $24,000

Stapleton, Capital $6,000

Rent Expense $1,800

Requirements

Calculate End of the Line Montana Refrigeration's current ratio.
How much in current assets does End of the Line Montana Refrigeration have for every dollar of current liabilities that it owes?

Reference no: EM133494933

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