Calculate the current ratio current assets/current liabilities for Castle rock construction round to one decimal place. The current ratio 2:1 Balance Sheet15/24crual BasisAs of December 31, 2024Dec 31, 24% of Column24000 - Payroll Liabilities24010 · Federal Withholding24020 · FICA Payable24040 · FUTA Payable24050 · State Withholding24060 - SUTA Payable24070 · State Disability Payable24080 - Worker's Compensation24100 · Emp. Health Ins Payable1,364.002,118.82100.000.2%299.19110.0048.131,214.31150.000.4%0.0%0.1%0.0%0.0%0.2%0.0%Total 24000 - Payroll Liabilities5,404.450.9%25500 · Sales Tax Payable957.630.2%Total Other Current Liabilities11,362.082.0%Total Current Liabilities38,475.826.7%Long Term Liabilities23000 · Loan - Vehicles (Van)23100 · Loan - Vehicles (Utility Truck)23200 · Loan - Vehicles (Pickup Truck)28100 · Loan - Construction Equipment28200 · Loan - Furniture/Office Equip28700 - Note Payable - Bank of Anycity28900 · Mortgage - Office Building10,501.4719,936.9122,641.0013,911.3221,000.002,693.21296,283.001.8%3.4%3.9%2.4%3.6%0.5%51.2%Total Long Term Liabilities386,966.9166.9%Total Liabilities425,442.7373.6%Equity30000 · Opening Bal Equity30100 - Capital Stock32000 · Retained EarningsNet Income38,773.75500.006.7%61,756.7651,811.860.1%10.7%9.0%Total Equity152,842.3726.4%TOTAL LIABILITIES & EQUITY578,285.10100.0% 2/15/24Balance SheetAs of December 31, 2024ccrual BasisDec 31, 24% of ColumnASSETSCurrent AssetsChecking/Savings10100 - Checking10300 · Savings10400 · Petty Cash8.1%3.1%46,969.1017,910.193,500.000.6%Total Checking/Savings68,379.2911.8%Accounts Receivable11000 · Accounts Receivable93,007.9316.1%Total Accounts Receivable93,007.9316.1%Other Current Assets11100 - Interest Receivable12000 · Undeposited Funds12100 · Inventory Asset12800 · Employee Advances13100 Pre-paid Insurance13400 Retainage Receivable0.1%400.002.440.0030,683.38832.003,901.173,703.020.4%5.3%0.1%0.7%0.6%Total Other Current Assets41,959.577.3%Total Current Assets203,346.7935.2%Fixed Assets15000 · Furniture and Equipment15100 - Vehicles34,326.0078,936.915.9%13.7%15200 Buildings and Improvements15300 - Construction Equipment16900 - Land17000 · Accumulated Depreciation325,000.0015.300.0090,000.00-170,344.6056.2%2.6%15.6%-29.5%Total Fixed Assets373,218.3164.5%Other Assets18700 - Security Deposits1,720.000.3%Total Other Assets1,720.000.3%TOTAL ASSETS578,285.10100.0%LIABILITIES & EQUITYLiabilitiesCurrent LiablitiesAccounts Payable20000 - Accounts Payable26,636.924.6%26,636.924.6%Total Accounts PayableCredit Cards20500 · QuickBooks Credit Card20600 - CalOil Credit Card94.20382.620.0%0.1%476.820.1%Total Credit CardsOther Current Liabilities20300 - Interest Payable21000 - Unearned Revenue3,000.002,000.000.5%0.3%

Name: Calculate the current ratio current assets/current liabilities for Cas
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Description: Calculate the current ratio current assets/current liabilities for Castle rock construction round to one decimal place. The current ratio 2:1 Balance Sheet15/24crual BasisAs of December 31, 2024Dec 31, 24% of Column24000 - Payroll Liabilities24010 ·

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Business

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Calculate the current ratio current assets/current liabilities for Castle rock construction round to one decimal place. The current ratio 2:1

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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