Following are the particulars available for Z and X, LLP Particulars (Rs in 000) retained earnings 860
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Following are the particulars available for Z and X, LLP
Particulars | (Rs in ‘000) |
retained earnings | 860 |
accounts receivable | 250 |
supplies | 150 |
salaries payable | 150 |
equipment | 1500 |
unearned revenue | 200 |
accounts payable | 540 |
cash | 550 |
prepaid insurance | 300 |
common stock | 1000 |
- Prepare T Form Balance Sheet out of the details as shared in the table (5 Marks)
- Define and calculate the current ratio, Discuss the significance of this rati (5 Marks)
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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