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Comment on the liquidity of the company

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Reference no: EM13548773

The adjusted trial balance for Martell Bowling Alley at December 31, 2014, contains the following accounts.

Debits
Credits
Buildings
$128,800
Owner's Capital
$115,000
Accounts Receivable
14,520
Accumulated Depreciation-Buildings
42,600
Prepaid Insurance
4,680
Accounts Payable
12,300
Cash
18,040
Notes Payable
97,780
Equipment
62,400
Accumulated Depreciation-Equipment
18,720
Land
67,000
Interest Payable
2,600
Insurance Expense
780
Service Revenue
17,180
Depreciation Expense
7,360



Interest Expense
2,600





$306,180


$306,180


(b) Comment on the liquidity of the company.

Reference no: EM13548773

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