Question: need help computing the current ratio, acid-test ratio and gross margin ratio NELSON COMPANY Unadjusted Trial Balance January 31 Cash Merchandise inventory Store supplies Prepaid

NELSON COMPANY Unadjusted Trial Balance January 31 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable J. Nelson, Capital J. Nelson, Withdrawals Sales Sales discounts Sales returns and allowances. Cost of goods sold Depreciation expense-Store equipment Sales salaries expense Office salaries expense Insurance expense Rent expense-Selling space Rent expense-Office space Store supplies expense Advertising expense Totals. Debit $ 22,000 13,000 5,900 2,400 42,900 2,050 1,950 2,100 38,000 0 15,300 15,300 0 6,500 6,500 0 9,800 $ 183,700 W Credit $ 18,400 17,000 32,000 116,300 $ 183,700 Additional Information: a. Store supplies still available at fiscal year-end amount to $2,800. b. Expired insurance, an administrative expense, is $1,700 for the fiscal year. c. Depreciation expense on store equipment, a selling expense, is $1,550 for the fiscal year. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,400 of inventory is still available at fiscal year-end. Problem 5-5A (Algo) Part 4 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal pla Current ratio :1 Acid-test ratio 1 Gross margin ratio :1
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