fundamental accoun Exam Chapters 12.34 Pa a Announcements-Blackt × https://newco

Question

fundamental accoun Exam Chapters 12.34 Pa a Announcements-Blackt × https://newconnect.mheduc connect html pters 12.3,.4 Part 1 Saved Use the information in the adjusted trial balance presented below to calculate the current ratio for Taron Company. Account Title Dr $ 74,880 33,eee 13,48e 27e,eee Cr Cash Accounts receivable Prepaid insurance Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable 135,eee 112,88 34,8ee 6,65e 18, 1ee 81,0e0 235, 65e ssa2·400 Unearned revenue Long-term notes payable 2. Taron, Capital Totals $502,400 Multiple Choice

Explanation / Answer

Current Ratio = Current Assets/Current Liabilities

Current Ratio = ($74,000 + $33,000 + $13,400) / ($34,000 + $6,650 + $10,100)

Current Ratio = 2.37

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