The following items are taken from the financial statements

(TCO D) The following items are taken from the financial statements of PQR Company for 2012:Cash$250,000Accounts Receivable150,000Prepaid Rent120,000Accounts Payable168,000Unearned Service Revenue25,000Equipment, net of accumulated depreciation333,000Common Stock250,000Retained Earnings 12/31/201141,000Long-term debt300,000Service revenue165,000Cost of Goods Sold50,000Rent expense24,000Supplies expense10,000Insurance expense12,000Instructions: (a) Please create a classified Balance Sheet in good form for the year ended 2012. (25 points)(b) Please calculate the current ratio. (5 points)(Points : 30)

Order Solution Now

Similar Posts