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

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