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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 27
Preparing a classified balance sheet in report form, and using the current and debt ratios to evaluate a company
Selected accounts of Browne Irrigation Systems at December 31, 2012, follow:
Requirements
1. Prepare the company's classified balance sheet in report form at December 31, 2012.
2. Compute the company's current ratio and debt ratio at December 31, 2012. At December 31, 2011, the current ratio was 1.83 and the debt ratio was 0.39. Did the company's ability to pay debts improve or deteriorate, or did it remain the same during 2012
Selected accounts of Browne Irrigation Systems at December 31, 2012, follow:
Requirements
1. Prepare the company's classified balance sheet in report form at December 31, 2012.
2. Compute the company's current ratio and debt ratio at December 31, 2012. At December 31, 2011, the current ratio was 1.83 and the debt ratio was 0.39. Did the company's ability to pay debts improve or deteriorate, or did it remain the same during 2012
Explanation
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Verified
1.
Prepare the given company's classifie...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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