Maurice Tutor

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Category > Accounting Posted 29 Jul 2017 My Price 6.00

Duncan Company

On December 31, 20—, the following selected accounts and amounts appeared on the balance sheet for Duncan Company. Determine the amount of the working capital and the current ratio. (Round to two decimal places.)

 

Building                                                                                                                $180,000

Prepaid Insurance                                                                                            1,800

Merchandise Inventory                                                                                 85,000

Store Equipment                                                                                              11,000

Unearned Fees                                                                                                 1,200

Notes Payable (due in six months)                                                            6,000

Accumulated Depreciation, Building                                                         62,000

Accounts Payable                                                                                             25,000

Land                                                                                                                      50,000

Cash                                                                                                                      50,000

Store Supplies                                                                                                    1,400

Accumulated Depreciation, Store Equipment                                       8,000

Notes Receivable (due in four months)                                                   1,500

Mortgage Payable (current portion)                                                         4,400

Salaries Payable                                                                                                1,600

M. Duncan, Capital                                                                                          161,500

Mortgage Payable (due in four years)                                                      86,000

 

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Maurice Tutor
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Status NEW Posted 29 Jul 2017 11:07 PM My Price 6.00

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