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Essay / Financial Accounting - 771
Just Data2-1.A. Given: A = $95,000; L=40,000$OE = 95,000 - 40,000$OE = 55,000$2-1 B. Given: A = 65,000$; OE = $40,000L = $65,000 - $40,000L = $25,0002-1 C. Given: Current assets = $25,000; L = $40,000; OE = $55,000 Non-current assets = $95,000 - $25,000 Non-current assets = $70,0002-1 D. Given: Current ratio = 2.2:1; Current assets = $33,000, non-current assets = $55,000; Liabilities = $15,000 Current Liabilities = Current Assets / Ratio Current Liabilities = $33,000 / 2.2 Current Liabilities = $15,000 OE = Total Assets - Total Liabilities OE = $88,000 - $15,000 OE = $73,0002- 1 E. Given: Non-current assets = $60,000; Total assets = $95,000; Current assets = $35,000; OE = $70,000 Current Liabilities = $95,000 - $70,000 Current Liabilities = $25,000 Current Ratio = $35,000 / $25,000 Current Ratio = 1.4:12-2|JL Gregory Company ||Balance Sheet as of | |June 30 |