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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 47
Use the information in the adjusted trial balance reported in Exercise 4-11 to compute the current ratio as of the balance sheet date (round the ratio to two decimals). Interpret the current ratio for the Wilson Trucking Company. (Assume that the industry average for the current ratio is 1.5.)
Reference: Exercise 4-11
Use the following adjusted trial balance of Wilson Trucking Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, 2015. The K. Wilson, Capital account balance is $175,000 at December 31, 2014.
Reference: Exercise 4-11
Use the following adjusted trial balance of Wilson Trucking Company to prepare the (1) income statement and (2) statement of owner's equity for the year ended December 31, 2015. The K. Wilson, Capital account balance is $175,000 at December 31, 2014.
Explanation
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Current ratio:
The current ratio is a m...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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