Question: Find current ratio, quick ratio, debt ratio and return on equity ASSETS Current Assets: LIABILITIES Current Liabilities: Cash in Bank Petty Cash Net Cash Inventory
ASSETS Current Assets: LIABILITIES Current Liabilities: Cash in Bank Petty Cash Net Cash Inventory Accounts Receivable Prepaid Insurance $18,500.00 Accounts Payable $4,800.00 S500.00 Wages Payable $19,000.00 Office Rent $25,400.00 Utilities S14,300.00 S430.00 S5,300.00 Federal Income Tax Payable 5,500.00 Overdrafts $2,600.00 Total Current Assets S55,200.00 Customer Deposits 900.00 720.00 S1,200.00 $24,950.00 sion Payable Union Dues Payable Pen Fixed Assets: Land S150,000.00 Medical Payable 330,000.00 Sales Tax Payable Buildings Less Depreciation Net Land & Buildings $50,000.00 Total Current Liabilities $430,000.00 Long-Term Liabilities: Equipment Less Depreciation Net Equipment $68,000.00 Long-Term Loans 35,000.00 Mortgage 33,000.00 Total Long-Term Liabilities 40,000.00 $155,000.00 $195,000.00 TOTAL LIABILITIES 219,950.00 Owners' Equity: Common Stock Owner Draws Retained Earnings 120,000.00 50,000.00 128,250.00 $298,250.00 Total Owners' Equity: TOTAL ASSETS S518,200.00 LIABILITIES AND EQUITY 518,200.00
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