Balance Sheet December 30, 2022 Current assets Cash $26.000 Accounts receivable 35,200 Prepaid insurance 6,000 $ 67,200
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Balance Sheet December 30, 2022 Current assets Cash $26.000 Accounts receivable 35,200 Prepaid insurance 6,000 $ 67,200 Equipment (net) 201,000 Total assets $268,200 Current liabilities Accounts payable $ 21,000 Salaries and wages payable 11,000 $32,000 Long-term liabilities Notes payable 85,200 Total liabilities 117,200 Stockholders' equity Common stock 100.000 Retained earnings 51,000 151,000 Total liabilities and stockholders' equity $268,200
Calculate the current ratio and working capital based on the preliminary balance sheet.
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119493631
9th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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