BBA Corp. prepared the following random list of assets, liabilities, revenues, and expenses from its...
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Accounting
BBA Corp. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2019, accounting records. The beginning retained earnings as of January 1, 2019, was $23,000 and the owner, Loveleen Kaur, received dividends of $15,000 during the year. Prepare the balance sheet for BBA Corp. as of December 31, 2019. Please calculate the current ratio of the company and discuss what it means to the company Accounts receivable Interest expense Supplies Accounts payable Utilities expense Furniture(Net of Depreciation) Salary payable Common shares Depreciation Expense $80,800 $10,000 $1,300 $156,000 $6,100 $45,000 $104,400 $13,500 $9,000 Service revenue Cash Note payable Salary expense Interest payable Rent expense Automobiles Land $70,500 $170,500 $32,200 $18,000 $1,600 $9,600 $12,900 $23,000
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