PLEASE HELP ME WITH THIS QUESTION THE ANALYSIS part. P2-3 (Algo) Recording Transactions in T-Accounts, Preparing the Balance Sheet from a Trial Balance,and Evaluating the Current Ratio LO2-2, 2-4, 2-5 (GL)Jaguar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected thefollowing:CashInvestments (short-term)Accounts receivableInventoryNotes receivable (long-term)EquipmentFactory buildingIntangibles$27,000Accounts payable2,300 Accrued liabilities payable.3,300 Notes payable (current)33,000 Notes payable (noncurrent)1,600 Common stock55,000 Additional paid-in capital90,000 Retained earnings5,000During the current year, the company had the following summarized activities:$23,0003,2007,70047,00010,50094,50031,300a. Purchased short-term investments for $8,200 cash.b. Lent $6,300 to a supplier who signed a two-year note.c. Purchased equipment that cost $19,000; paid $4,500 cash and signed a one-year note for the balance.d. Hired a new president at the end of the year. The contract was for $76,000 per year plus options to purchase company stock ata set price based on company performance. The new president begins her position on January 1 of next year.e. Issued an additional 2,500 shares of $0.50 par value common stock for $14,000 cash.f. Borrowed $12,000 cash from a local bank, payable in three months.g. Purchased a patent (an intangible asset) for $2,500 cash.h. Built an addition to the factory for $30,000; paid $7,900 in cash and signed a three-year note for the balance.i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000. i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000.RequirementGeneralJournalGeneralLedgerCompute the current ratio for the current year. (Round your answer to 2 decimal places.)Compute the current ratio for the current year.Current ratioAnswer is not complete.<Trial Balance Balance Sheet AnalysisBalance SheetAnalysis >

i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000. General Ledger Compute the current ratio for the current year. (Round your answer to 2 decimal places.) Requirement General Journal Compute the current ratio for the current year. Current ratio > Answer is not complete. Trial Balance Balance Sheet Analysis < Balance Sheet Analysis >

i. Returned defective equipment to the manufacturer, receiving a cash refund of $1,000. General Ledger Compute the current ratio for the current year. (Round your answer to 2 decimal places.) Requirement General Journal Compute the current ratio for the current year. Current ratio > Answer is not complete. Trial Balance Balance Sheet Analysis < Balance Sheet Analysis >

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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