Sunand Company, has these account balances at December 31,2022. Notes payable ($60,500 due after 12/31/23) $103,000 Unearned

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Sunand Company, has these account balances at December 31,2022.

Notes payable ($60,500 due after 12/31/23) $103,000

Unearned service revenue 70,500

Other long-term debt ($90,500 due in 2023) 247,500

Salaries and wages payable 32,000

Accounts payable 64,000

In addition, Sunland is involved in a lawsuit. Legal counsel feels it is probable sunland will pay damages of $24,000 in 2023. (A) Prepare the current liabilities section on Sunland's December 31,2022 balance sheet. (B) Sunland's current assets are $569,360. Compute Sunland's working capital and current ratio.( round current ration to 2 decimal places)

Posted Date: May 18, 2024 09:02 AM

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Sunand Company, has these account balances at December 31,2022. Notes payable ($60,500 due after 12/31/23) $103,000 Unearned

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