Below, find a working trial balance for the Smith Company.
Trial Balance (accounts in alphabetical order)
Accounts payable 67,000
Accounts receivable 24,500
Common stock 10,000
Depreciation expense 24,350
Cost of goods sold 234,000
Equipment (net of depreciation) 316,000
Long-term debt 145,000
Paid-in capital 90,000
Property taxes 8,900
Retained earnings ???
Total 747,550 718,000© BrainMass Inc. brainmass.com October 10, 2019, 5:51 am ad1c9bdddf
Liquidity Measurement Ratios Formulae
Current Ratio 0.99 Current Assets / ...
This solution includes the preparation of the balance sheet and income statement from a trial balance, and calculates liquidity, profitability and debt ratios. An Excel file is included to provide clarity and understanding of ratio calculations.