Solution-Calculate the current ratio and debt ratio

Calculate the current ratio and debt ratio

Assignment Help Accounting Basics

Reference no: EM132454972

Problem - The following items are taken from the financial statements of PQR Company for 2013:

Cash	$100,000
Inventory	150,000
Accounts Payable	123,000
Accounts Receivable	40,000
Supplies	10,000
Salaries Payable	30,000
Unearned Revenue	75,000
Intangible assets	78,000
Property, plant, and equipment, net	156,000
Long term debt	50,000
Common Stock	25,000
Additional Paid in Capital	175,000
Retained Earnings, 12/31/2012	13,000
Service revenue	402,000
Cost of Goods Sold	250,000
Rent expense	48,000
Supplies expense	25,000
Insurance expense	36,000

Required -

1) Create a classified balance sheet in good form for the year ended 2013.

2) Calculate the current ratio and debt ratio and explain your findings.

Reference no: EM132454972

Questions Cloud

Human factors in aviation maintenance : Your research paper should be 3-5 double spaced pages in length. This paper should have a formal introduction, a statement of purpose on the first page

Create a powerpoint presentation on a training method : Create a PowerPoint presentation on a training method for executives at an organization you currently work for or an organization you wish to work for

Difference between third person and third person : What is the difference between third person and third person omniscient point of view in writing?

Organizational analysis will utilize minimum of external : The organizational analysis will utilize a minimum of five external, peer-reviewed academic sources. What is the organization and how would you describe it?

Calculate the current ratio and debt ratio : Calculate the current ratio and debt ratio and explain your findings. Create a classified balance sheet in good form for the year ended 2013

Understanding terrorism : As always, pay close attention to the following guidelines. You will want to start working on your paper this week so you can have enough time

Take a look at climate science frequently : Climate science is really complex. Are there some climate-related questions you have or you have heard from others? (But isn't it a really cold year this year

Effectiveness of counterterrorism measures : Pick one of the counterterrorism measures discussed in our readings for this week and provide examples of when they successfully achieved

Anticipate and address potential objections : Why it is important to anticipate and address potential objections to what is being proposed in a persuasive message?

User Account

All Pages

Calculate the current ratio and debt ratio

Reference no: EM132454972

Reference no: EM132454972

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT