Question

Jerrison Company operates a wholesale hardware business. The following balance sheet accounts and balances are available for Jerrison at December 31, 2011.
Required:
1. Prepare a classified balance sheet for Jerrison at December 31, 2011.
2. Compute Jerrison’s working capital and current ratio at December 31, 2011.
3. If Jerrison’s management is concerned that a large portion of its inventory is obsolete and cannot be sold, how will Jerrison’s liquidity be affected?


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  • CreatedSeptember 22, 2015
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