A. Liquidity Ratios 1. Current Ratio 2. Acid Test Ratio 3. Inventory turnover 4. Accounts Receivable...

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A. Liquidity Ratios 1. Current Ratio 2. Acid Test Ratio 3. Inventory turnover 4. Accounts Receivable turnc B. Solvency Ratios 1. Debt to Total Asset ratio = Formula (words) Calculation Result (numbers) times times 2. Times-interest-earned rati = % C. Profitability Ratios 1. Profit Margin 2. Asset Turnover 3. Return on Assets = times % % % Dustin Larkin Consulting Income Statement For the Month Ended June 30, 2013 Revenues: Fees Earned Expenses: Salaries Expense Rent Expense Supplies Expense $ 12,425.00 $ 920.00 Depreciation Expense Insurance Expense Miscellaneous Expense SSSSS 1,500.00 980.00 $ 500.00 $ 150.00 450.00 Total Expenses $ 4,500.00 Net Income $ 7,925.00 Dustin Larkin Consulting Statement of Owners' Equity For the Month Ended June 30, 2013 Owner's Equity, June 1, 2013 Add: Additional Investment Add: Net Income Subtotal Less: Owner Withdrawals Owner's Equity $ 20,250.00 $ 7,925.00 $ 28,175.00 $ 4,500.00 $ 23,675 Dustin Larkin Consulting Balance Sheet ASSETS Current Assets: 30-Jun-13 Cash $ 8,875.00 Accounts Receivable $ 3,450.00 Supplies $ 1,020.00 Prepaid Rent Prepaid Insurance Total Current Assets Fixed Assets: Office Equipment $ 9,300.00 500.00 Less: Accumulated Depreciation $ Total Assets LIABILITIES Current Liabilities Accounts Payable Salaries Payable Unearned Fees Total Liabilities Equity: $ 3,000.00 $ 1,650.00 $ 17,995.00 $ 8,800.00 $ 26,795.00 $ 1,000.00 $ 120.00 $ 2,000.00 $ 3,120.00 $ 23,675.00 Total Equity $ 23,675.00 Total Liabilities & Equity $ 26,795.00 Prepare an Adjusted Trial Balance in the space below. Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment SSSSSASA $ 8,875.00 3.450.00 $ 1,020.00 3,000.00 $ 1,650.00 $ 9,300.00 Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Dustin Larkin, Capital SSSSS $ 500.00 $ 1,000.00 $ 120.00 2,000.00 20,250.00 Dustin Larkin, Drawing $ 4,500.00 Fees Earned $ 12,425.00 Salaries Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense SSSSSSA 920.00 $ 1,500.00 980.00 $ 500.00 $ 150.00 450.00 $ 36,295.00 $ 36,295.00 Prepare a post-closing trial balance as of June 30 in the space below. Dustin Larkin Consulting Post-Closing Trial Balance For the Month Ended June 30, 2013 Account Cash Debit Credit Accounts Receivable Supplies $ Prepaid Rent Prepaid Insurance $ Office Equipment $ SSSSSSA $ 8,875.00 $ 3,450.00 1,020.00 $ 3,000.00 1,650.00 9,300.00 Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Dustin Larkin, Capital SSSSSA 500.00 $ 1,000.00 $ 120.00 2,000.00 23,675.00 $ SA 27,295.00 $ 27,295.00 A. Liquidity Ratios 1. Current Ratio 2. Acid Test Ratio 3. Inventory turnover 4. Accounts Receivable turnc B. Solvency Ratios 1. Debt to Total Asset ratio = Formula (words) Calculation Result (numbers) times times 2. Times-interest-earned rati = % C. Profitability Ratios 1. Profit Margin 2. Asset Turnover 3. Return on Assets = times % % % Dustin Larkin Consulting Income Statement For the Month Ended June 30, 2013 Revenues: Fees Earned Expenses: Salaries Expense Rent Expense Supplies Expense $ 12,425.00 $ 920.00 Depreciation Expense Insurance Expense Miscellaneous Expense SSSSS 1,500.00 980.00 $ 500.00 $ 150.00 450.00 Total Expenses $ 4,500.00 Net Income $ 7,925.00 Dustin Larkin Consulting Statement of Owners' Equity For the Month Ended June 30, 2013 Owner's Equity, June 1, 2013 Add: Additional Investment Add: Net Income Subtotal Less: Owner Withdrawals Owner's Equity $ 20,250.00 $ 7,925.00 $ 28,175.00 $ 4,500.00 $ 23,675 Dustin Larkin Consulting Balance Sheet ASSETS Current Assets: 30-Jun-13 Cash $ 8,875.00 Accounts Receivable $ 3,450.00 Supplies $ 1,020.00 Prepaid Rent Prepaid Insurance Total Current Assets Fixed Assets: Office Equipment $ 9,300.00 500.00 Less: Accumulated Depreciation $ Total Assets LIABILITIES Current Liabilities Accounts Payable Salaries Payable Unearned Fees Total Liabilities Equity: $ 3,000.00 $ 1,650.00 $ 17,995.00 $ 8,800.00 $ 26,795.00 $ 1,000.00 $ 120.00 $ 2,000.00 $ 3,120.00 $ 23,675.00 Total Equity $ 23,675.00 Total Liabilities & Equity $ 26,795.00 Prepare an Adjusted Trial Balance in the space below. Debit Credit Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Office Equipment SSSSSASA $ 8,875.00 3.450.00 $ 1,020.00 3,000.00 $ 1,650.00 $ 9,300.00 Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Dustin Larkin, Capital SSSSS $ 500.00 $ 1,000.00 $ 120.00 2,000.00 20,250.00 Dustin Larkin, Drawing $ 4,500.00 Fees Earned $ 12,425.00 Salaries Expense Rent Expense Supplies Expense Depreciation Expense Insurance Expense Miscellaneous Expense SSSSSSA 920.00 $ 1,500.00 980.00 $ 500.00 $ 150.00 450.00 $ 36,295.00 $ 36,295.00 Prepare a post-closing trial balance as of June 30 in the space below. Dustin Larkin Consulting Post-Closing Trial Balance For the Month Ended June 30, 2013 Account Cash Debit Credit Accounts Receivable Supplies $ Prepaid Rent Prepaid Insurance $ Office Equipment $ SSSSSSA $ 8,875.00 $ 3,450.00 1,020.00 $ 3,000.00 1,650.00 9,300.00 Accumulated Depreciation Accounts Payable Salaries Payable Unearned Fees Dustin Larkin, Capital SSSSSA 500.00 $ 1,000.00 $ 120.00 2,000.00 23,675.00 $ SA 27,295.00 $ 27,295.00