il Verizon LTE 10:10 AM AA v2.cengagenow.com CengageNOWV2 | Online teaching and learning resource from Cengage Leaming Close Window 7. 8. 9. 10. 5. PE.04-06B O eBook Show Me How Working Capital and Current Ratio Current assets and current liabilities for Brimstone Company follow: 2019 2018 Current assets $1,586,250 $1,210,000 Current liabilities 705,000 550,000 a. Determine the working capital and current ratio for 2019 and 2018. If required, round "current ratio" answers to two decimal places. 2019 2018 Working capital Current ratio b. Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change? 6. PR.04-01A.BLANKSHEET I Show Me How eBook Financial statements and closing entries Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Signals Company prepared the following end-of-period spreadsheet at December 31, 2019, the end of the fiscal year: Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 13,000.00 13,000.00 Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00 Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00 a nnn nn Cunnlie
il Verizon LTE 10:10 AM AA v2.cengagenow.com CengageNOWV2 | Online teaching and learning resource from Cengage Leaming Close Window 7. 8. 9. 10. 5. PE.04-06B O eBook Show Me How Working Capital and Current Ratio Current assets and current liabilities for Brimstone Company follow: 2019 2018 Current assets $1,586,250 $1,210,000 Current liabilities 705,000 550,000 a. Determine the working capital and current ratio for 2019 and 2018. If required, round "current ratio" answers to two decimal places. 2019 2018 Working capital Current ratio b. Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable change? 6. PR.04-01A.BLANKSHEET I Show Me How eBook Financial statements and closing entries Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Instructions Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Signals Company prepared the following end-of-period spreadsheet at December 31, 2019, the end of the fiscal year: Beacon Signals Company End-of-Period Spreadsheet For the Year Ended December 31, 2019 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 13,000.00 13,000.00 Accounts Receivable 40,500.00 (a) 12,500.00 53,000.00 Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00 a nnn nn Cunnlie
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question #5 in this image
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10:10 AM
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CengageNOWV2 | Online teaching and learning resource from Cengage Leaming
Close Window
7.
8.
9.
10.
5. PE.04-06B
O eBook
Show Me How
Working Capital and Current Ratio
Current assets and current liabilities for Brimstone Company follow:
2019
2018
Current assets
$1,586,250
$1,210,000
Current liabilities
705,000
550,000
a. Determine the working capital and current ratio for 2019 and 2018. If required, round
"current ratio" answers to two decimal places.
2019
2018
Working capital
Current ratio
b. Does the change in the current ratio from 2018 to 2019 indicate a favorable or an unfavorable
change?
6. PR.04-01A.BLANKSHEET
I Show Me How
eBook
Financial statements and closing entries
Instructions Chart of Accounts Labels and Amount Descriptions Income Statement
Instructions
Beacon Signals Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacon Signals Company prepared the
following end-of-period spreadsheet at December 31, 2019, the end of the fiscal year:
Beacon Signals Company
End-of-Period Spreadsheet
For the Year Ended December 31, 2019
Unadjusted Trial Balance
Adjustments
Adjusted Trial Balance
Account Title
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Cash
13,000.00
13,000.00
Accounts Receivable
40,500.00
(a) 12,500.00
53,000.00
Prepaid Insurance
4,200.00
(b) 3,000.00 1,200.00
a nnn nn
Cunnlie
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