Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 22. benson auto repair has the following account b

22. Benson Auto Repair has the following account balances at December 31,2024 , from its...

70.2K

Verified Solution

Question

Accounting

imageimage

22. Benson Auto Repair has the following account balances at December 31,2024 , from its adjusted trial balance. (Click the icon to view the account balances.) Compute Benson Auto Repair's current ratio. \begin{tabular}{|c|c|c|c|c|c|} \hline Cash & $ & 4,000 & Benson, Capital & $ & 35,700 \\ \hline Accounts Receivable & & 3,200 & Benson, Withdrawals & & 2,100 \\ \hline Prepaid Rent & & 1,900 & Service Revenue & & 1,600 \\ \hline Office Supplies & & 3,000 & Depreciation Expense-Equipment & & 300 \\ \hline Equipment & & 34,800 & Salaries Expense & & 800 \\ \hline Accumulated Depreciation-Equipment & & 1,600 & Rent Expense & & 500 \\ \hline Accounts Payable & & 5,400 & Utilities Expense & & 600 \\ \hline Notes Payable (long-term) & & 7,000 & Supplies Expense & & 100 \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Equilibrium constants at 25 ?C are listed in the table below. Substance Kc Value of Kc CaCO3 Ksp 4.5

Chemistry
Q

A 82.9-kg man is standing on a frictionless ice surface when he throws a 1.70-kg book...

Physics
Q

determine the potential energy stored in a spring if a force of 28 holds the spring...

Physics
Q

Discuss the difference between public and private facilities, focus on the private financing of sport facilities...

General Management
Q

The value of Planck's constant is 6.63 10-34 Js .The speed of light 3...

Physics
Q

PASSAGE A student is working on 3 phase 50 Hz 4 pole induction motor having...

Physics
Q

Let f(x)=x-9 and g(x) = 6 -x. Perform the composition or operation indicated. (fg)(-1)

Basic Math
Q

Utility Value 388,000 1 384,000 0.90 a Using last week's home...

Accounting
Q

The Baldwin Company currently has the following balances on their balance sheet: Total Assets $170,808...

Accounting
Q

Earnings per share Bass Ltd, a leading producer of construction, mining and electrical equipment, suffered...

Accounting
Q

To pay for his academic fees, Tarek, a college student, is selling a computer accessory...

Accounting
Q

Create financial statements by properly employing prescribed methods in accordance with generally accepted accounting principles:...

Accounting