The adjusted trial balance of Brian O'Brion Dance Studio Company follows: Requirements 1. Prepare the classified balance
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The adjusted trial balance of Brian O'Brion Dance Studio Company follows:
Requirements
1. Prepare the classified balance sheet of Brian O'Brion Dance Studio Company at August 31, 2014. Use the report form. You must compute the ending balance of Retained Earnings.
2. Compute O'Brion's current ratio at August 31, 2014. One year ago, the current ratio was 1.49. Indicate whether O'Brion's ability to pay current debts has improved, deteriorated, or remained the same.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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