Problem 2 Below are selected accounts from the General Ledger of Fronk's Franks for the...
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Accounting
Problem 2 Below are selected accounts from the General Ledger of Fronk's Franks for the year ended December 31, 2011 (all balances are normal) Accounts Payable Accounts Receivable Accumulated Depreciation Equipment Accumulated Depreciation - Building Building Cash Equipment Frank Farkely, Capital Land Merchandise Inventory Mortgage Payable -Long Term Prepaid Insurance Salaries Payable Supplies Unearned Revenue 23,415 87,154 44,865 32,641 176,251 42,511 84,526 225,244 100,000 54,748 205,251 4,185 12,259 784 6,484 Instructions: 1 Prepare a Classified Balance Sheet in good form 2Calculate working capital (show calculations) 14" 3 Calculate the current ratio (show calculations) 22 y
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