Required:

  • Prepare the required adjusting journal entries for items a through h.
  • Prepare the Adjusted Trial Balance
  • Prepare the Income Statement for the year end
  • Prepare the Statement of Owner’s Equity for the year
  • Prepare the Balance Sheet as of December 31

Use the information in the financial statements to calculate the following ratios:

  • Return on Assets
  • Debt ratio
  • Profit margin
  • Current ratio

Below are the industry averages for the corresponding ratios

  • Return on Assets = 11.48%
  • Debt ratio = 42%
  • Profit margin = 21.60%
  • Current ratio = 1.06

Get 15% discount on your first order with us
Use the following coupon
FIRST15

Order Now

Hi there! Click one of our representatives below and we will get back to you as soon as possible.

Chat with us on WhatsApp