Reference no: EM13529444

Compute Jamar Company's current ratio using the following information.

Accounts receivable	$15,000	Long-term notes payable	$20,000
Accounts payable	10,000	Office supplies	1,800
Buildings	42,000	Prepaid insurance	2,500
Cash	6,000	Unearned services revenue	4,000

2. The following are common categories on a classified balance sheet.

A. Current assets

B. Long-term investments

C. Plant assets

D. Intangible assets

E. Current liabilities

F. Long-term liabilities

For each of the following items, select the letter that identifies the balance sheet category where the item typically would appear.

1. Trademarks

2. Accounts receivable

3. Land not currently used in operations

4. Notes payable (due in three years)

5. Cash

6. Wages payable

7. Store equipment

8. Accounts payable