Exercise 4-14 (Algo) Computing the current ratio LO A1 Use the information in the following adjusted trial balance for the Wilson Trucking Company. Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense Office supplies expense Repairs expense Totals Required A Required B Calculate the current ratio for Wilson Trucking. Debit $ 8,700 16,500 2,000 170,000 Choose Numerator 75,000 1 (a) Calculate the current ratio for Wilson Trucking. (b) Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligations? Credit Complete this question by entering your answers in the tabs below. $ 35,020 19,000 22,588 65,660 7,700 12,040 $ 399,188 $ 399,188 Current Ratio 12,700 3,000 58,000 150,468 Show less A

Exercise 4-14 (Algo) Computing the current ratio LO A1 Use the information in the following adjusted trial balance for the Wilson Trucking Company. (a) Calculate the current ratio for Wilson Trucking. (b) Assuming Spalding (a competitor) has a current ratio of 1.5 , which company is better able to pay its short-term obligations? Complete this question by entering your answers in the tabs below. Show less A Calculate the current ratio for Wilson Trucking. (a) Calculate the current ratio for Wilson Trucking. (b) Assuming Spalding (a competitor) has a current ratio of 1.5 , which company is better able to pay its short-term obligations? Complete this question by entering your answers in the tabs below. Assuming Spalding (a competitor) has a current ratio of 1.5 , which company is better able to pay its short-term obligations? Assuming Spalding (a competior) has a current ratio of 1.5 , which company is better able to pay its short-lerm obligations