Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. conner corporation's adjusted trial balance includ

Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable($45,000), Capital...

70.2K

Verified Solution

Question

Accounting

Conner Corporation's adjusted trial balance included the following items: Accounts payable ($65,000), Accounts receivable($45,000), Capital stock($100,000), Cash ($50,000), Dividends($10,000), Goodwill($47,000), interest expense($4,000), Interest payable($2,000), Inventory($32,000), Notes payable($80,000), prepaid expenses($5,000), Property, plant and equipment($123,000), Retained earnings($46,000), Rent expenses($18,000), Revenues ($101,000), and Salary expense($60,000). The note payable balance is not due for many years, although interest is paid annually. How much is conners CURRENT ratio?

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