Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 22. benson auto repair has the following account b

22. Benson Auto Repair has the following account balances at December 31,2024 , from its...

70.2K

Verified Solution

Question

Accounting

imageimage

22. Benson Auto Repair has the following account balances at December 31,2024 , from its adjusted trial balance. (Click the icon to view the account balances.) Compute Benson Auto Repair's current ratio. \begin{tabular}{|c|c|c|c|c|c|} \hline Cash & $ & 4,000 & Benson, Capital & $ & 35,700 \\ \hline Accounts Receivable & & 3,200 & Benson, Withdrawals & & 2,100 \\ \hline Prepaid Rent & & 1,900 & Service Revenue & & 1,600 \\ \hline Office Supplies & & 3,000 & Depreciation Expense-Equipment & & 300 \\ \hline Equipment & & 34,800 & Salaries Expense & & 800 \\ \hline Accumulated Depreciation-Equipment & & 1,600 & Rent Expense & & 500 \\ \hline Accounts Payable & & 5,400 & Utilities Expense & & 600 \\ \hline Notes Payable (long-term) & & 7,000 & Supplies Expense & & 100 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

What is the basic structure of the HIV virus? What is the function of the glycoproteins...

Psychology
1.2K views

What Roles Introversion and Extraversion play on Marital Bliss? (Research Question). Why is it important? What...

Mechanical Engineering
1.2K views

A heat engine operates by extracting 2,000 KJ of heat from a source at 1500 K,...

Physics
1.2K views

In a Young s double slit experiment the slits are separated by 0 38 mm...

Basic Math
1.2K views

A Chevy Volt costs $26,400 in the United States. What would it cost in Canada?...

Accounting
1.2K views

Clabber Company has bonds outstanding with a par value of $100,000 and a carrying...

Accounting
1.2K views

2 Seashell Co planned to make 90,000 units of Choc in June. The...

Accounting
1.2K views

C Question 4 The income statement and selected balance sheet information for Direct...

Accounting
1.2K views

On January 1, 2020, Holland Corporation paid $7 per share to a group of Zeeland...

Accounting
1.2K views

Futura Company purchases the 66,000 starters that it installs in its standard line of farm...

Finance
1.2K views

All over the world there exists a fierce debate about the privatization of water rights....

Accounting
1.2K views

Lin Corporation has a single product whose selling price is $140 per unit and whose...