Account Title
Debit
Credit
Cash
$ 9,600
Accounts receivable
16,500
Office supplies
2,000
Trucks
151,000
Accumulated depreciation-Trucks
$ 31,106
Land
75,000
Accounts payable
13,600
Interest payable
3,000
Long-term notes payable
58,000
K. Wilson, Capital
130,323
K. Wilson, Withdrawals
19,000
Trucking revenue
146,500
Depreciation expense-Trucks
20,063
Salaries expense
68,709
Office supplies expense
8,058
Repairs expense
12,599
Totals
$ 382,529
$ 382,529
(a) Calculate the current ratio for Wilson Trucking
(b) Assuming Spalding (a competitor) has a current ratio of 1.5, which company is better able to pay its short-term obligations?
Complete this question by entering your answers in the tabs below.
Required A
Required B
Calculate the current ratio for Wilson Trucking.
Choose Numerator
Current Ratio
Choose Denominator
Current Ratio
Current ratio
0
Required B >
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