Solution-Create a classified balance sheet in good form for

Create a classified balance sheet in good form for the year

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Reference no: EM131757461

The following items are taken from the financial statements of BCT Company for 2013:

Cash	$138,800
Accounts Payable	75,000
Supplies	15,000
Accounts Receivable	35,000
Inventory	45,000
Salaries Payable	30,000
Unearned Revenue	45,000
Property, plant, and equipment, net	318,000
Intangible assets	260,000
Common Stock	100,000
Additional Paid-in Capital	400,000
Retained Earnings, 12/31/2012	21,000
Long-term debt	90,000
Service revenue	746,000
Cost of Goods Sold	639,200
Rent expense	30,000
Supplies expense	5,000
Insurance expense	21,000

Instructions:

(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: EM131757461

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Create a classified balance sheet in good form for the year

Reference no: EM131757461

Reference no: EM131757461

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