Calculate the current ratio for the company

Assignment Help Accounting Basics

Reference no: EM131815120

Question: Completing the accounting cycle from adjusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Walsh Anvils at December 31, 2016, and the data for the adjustments follow:

Adjustment data: a. Unearned Revenue still unearned at December 31, $1,100.

b. Prepaid Rent still in force at December 31, $2,100.

c. Office Supplies used, $1,400.

d. Depreciation, $370.

e. Accrued Salaries Expense at December 31, $300.

Requirements: 1. Prepare the adjusting entries and post to the accounts. T-accounts have been opened using the trial balance.

2. Prepare an adjusted trial balance.

3. Complete the worksheet for the year ended December 31, 2016.

4. Prepare the income statement, the statement of retained earnings, and the classified balance s

5. Prepare the closing entries, and post to the accounts.

6. Prepare a post-closing trial balance.

7. Calculate the current ratio for the company.

Reference no: EM131815120

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