Incorrect Answers: Current Ratio: 4.14 or 4.53 Acid-rest Ratio: 1.34 or 3.20 Required information...
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Accounting
Incorrect Answers:
Current Ratio: 4.14 or 4.53
Acid-rest Ratio: 1.34 or 3.20
Required information [The following information applies to the questions displayed belowj The following unadjusted trial balance is prepared at fiscal year-end for Nelson Company. NELSON COMPANY Unadjusted Trial Balance anuary 31, 2017 Debit Credit $ 42,650 13,500 5,200 2,200 42,500 Cash Merchandise inventory Store supplies Prepaid insurance Store equipment Accumulated depreciation-Store equipment Accounts payable Common stock Retained earnings Dividends Sales Sales discounts Sales returns and allowances Cost of goods sold Depreciation expense-Store equipment Salaries expense Insurance expense Rent expense Store supplies expense Advertising expense Totals $ 18,250 14,000 3,600 18,000 2,250 155,750 1,800 2,000 38,000 31,800 18,000 9,700 $209,600 $209,600
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