C) $11,850 D) $9,550 Prepaid Ins.+ 450 A.R. +2,300 $11,850 57) For each account
ID: 2558278 • Letter: C
Question
C) $11,850 D) $9,550 Prepaid Ins.+ 450 A.R. +2,300 $11,850 57) For each account listed, identify the category in which it would appear on a classified balance sheet. Location on a Classified Balance Sheet Account a Retained Earnings b Accumulated Depreciation Equipment C d Notes Payable (due in two years) Unearned Revenue e Salaries Payable Accounts Receivable rademark h Prepaid Rent (prepaid for six onths) 58) A company has $120,000 in current assets; $600,000 in total assets; $90,000 in current liabilities, and $140,000 in total liabilities. Calculate the current ratio of the company. (Round your answer to two decimals.) 1.33 B) 1.71 120.000/90.000 133Explanation / Answer
Account Location on Classified Balance Sheet a Retained Earnings Stockholders Equity b Accumulated Depreciation - Equipment Property plant and Equipment c Notes Payable (due in two years) Long term debt d Unearned Revenue Current Liabilities e Salaries Payable Current Liabilities f Accounts Receivable Current Assets g Trademark Intangibles Assets h Prepaid rent (prepaid for six months) Current Assets
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