Alpha Geek

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    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

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    Polytechnic State University
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Category > Accounting Posted 07 May 2017 My Price 7.00

Classified Balance Sheet

Classified Balance Sheet

P8. The information that follows is from Rodriguez’s Tools Company’s April 30, 2014, post-closing trial balance.

Account name

Debit

Credit

Cash

31,000

 

Short-Term Investments

43,500

 

Accounts Receivable

239,000

 

Merchandise Inventory

113,000

 

Notes Receivable

10,000

 

Interest Payable

 

930

Sales Supplies

1,280

 

Office Supplies

540

 

Deposit for Future Advertising

3,120

 

Long-Term Notes Payable

 

99,000

Land

34,700

 

Delivery Equipment

42,230

 

Accumulated Depreciation—Delivery Equipment

 

28,400

Building, Not in Use

72,100

 

Accounts Payable

 

129,600

Salaries Payable

 

4,600

Prepaid Rent

1,800

 

Prepaid Insurance

3,600

 

C. Rodriguez, Capital

 

337,340

Trademark

4,000

 

 

ReQUIReD

1.    Prepare a classified balance sheet for Rodriguez’s Tools.

2.    BuSINESS AppLICATION ▶ Compute Rodriguez’s Tools’ current ratio and debt to equity ratio. (Round to one decimal place.)

3.    BuSINESS AppLICATION ▶ As a user of the classified balance sheet, why would you want to know the current ratio or the debt to equity ratio?

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 07 May 2017 04:05 PM My Price 7.00

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Attachments

file 1494173952-Answer.docx preview (276 words )
C-----------las-----------sif-----------ied----------- Ba-----------lan-----------ce -----------She-----------et ----------- P8-----------. -----------The----------- in-----------for-----------mat-----------ion----------- th-----------at -----------fol-----------low-----------s i-----------s f-----------rom----------- Ro-----------dri-----------gue-----------zâ€-----------™s -----------Too-----------ls -----------Com-----------pan-----------yâ€-----------™s -----------Apr-----------il -----------30,----------- 20-----------14,----------- po-----------st------------clo-----------sin-----------g t-----------ria-----------l b-----------ala-----------nce-----------. -----------Acc-----------oun-----------t n-----------ame----------- De-----------bit----------- Cr-----------edi-----------t -----------Cas-----------h 3-----------1,0-----------00 -----------  ----------- Sh-----------ort------------Te-----------rm -----------Inv-----------est-----------men-----------ts -----------43,-----------500-----------  ----------- A-----------cco-----------unt-----------s R-----------ece-----------iva-----------ble----------- 23-----------9,0-----------00 -----------  ----------- Me-----------rch-----------and-----------ise----------- In-----------ven-----------tor-----------y 1-----------13,-----------000-----------  ----------- N-----------ote-----------s R-----------ece-----------iva-----------ble----------- 10-----------,00-----------0 Â-----------  -----------Int-----------ere-----------st -----------Pay-----------abl-----------e Â-----------  9-----------30 ----------- Sa-----------les----------- Su-----------ppl-----------ies----------- 1,-----------280-----------  ----------- O-----------ffi-----------ce -----------Sup-----------pli-----------es -----------540-----------  ----------- D-----------epo-----------sit----------- fo-----------r F-----------utu-----------re -----------Adv-----------ert-----------isi-----------ng -----------3,1-----------20 -----------  -----------
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