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Calculate the quick ratio for proper solutions

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Reference no: EM132678155

Proper Solutions has the following balances as at October 31, 2019.

Cash$ 23,600

Sherlock, Capital$ 86,800

Bank Loan, Long-Term Portion$ 12,000

Accounts Payable$ 11,500

Accounts Receivable$ 23,300

Unearned Revenue$ 7,000

Merchandise Inventory$ 28,100

Bank Loan, Current Portion$ 6,000

Equipment$ 48,300

Required

Problem a) Make classified balance sheet using the balances listed above.

  • Select accounts according to their classification. If more than one account is used under a classification, enter them in the order of appearance in the list above. For example, if cash and accounts receivable are both current assets, choose cash for the first drop down menu, and accounts receivable for the second.

Problem b) Calculate the working capital for Proper Solutions.

Problem c) Calculate the current ratio for Proper Solutions.

Problem d) Calculate the quick ratio for Proper Solutions.

Reference no: EM132678155

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