The information that follows is from Rodriguezs Tools Companys April 30, 2014, post-closing trial balance. Required 1.

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The information that follows is from Rodriguez’s Tools Company’s April 30, 2014, post-closing trial balance.


The information that follows is from Rodriguez’s Tools Company’s April


Required
1. Prepare a classified balance sheet for Rodriguez’s Tools.
2. Compute Rodriguez’s Tools’ current ratio and debt to equity ratio. (Round to one decimal place.)
3. As a user of the classified balance sheet, why would you want to know the current ratio or the debt to equityratio?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Principles of Accounting

ISBN: 978-1133626985

12th edition

Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson

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