These financial statement items are for Majed Company at year-end, July 31, 2012. Salaries and wages...

These financial statement items are for Majed Company at year-end, July 31, 2012.

Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800

Cash 14,200 Accounts receivable 9,780

Equipment 30,400 Accumulated depreciation—equip. 6,000

Accounts payable 4,100 Service Revenue 10,000

Common stocks 31,900 Rent Expense 1,000

Dividends 500

Instructions

(A) Prepare a classified balance sheet at July 31.

(B) please find liquidity ratio, working capital, solvency ratio

Expert Solution

Answer is given below with working

ekkarill92 answered 2 years ago

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