Hi, I need to find the current ratio and the acid-test ratio. I
know the equations for both, but have been having difficulties with
calculating the correct answer
Unadjusted Trial Balance
Account
Debit
Credit
Cash
-350
Merch. Inv.
12,000
Store Supplies
5,900
Prepaid Ins
2,500
Store Equip
42,900
Accumulated depreciation - Store Equip.
16,250
Accounts Payable
15,000
Capital
17,000
Withdrawls
2,100
Sales
114,550
Sales Discounts
1,800
Sales Returns & Allowances
2,050
Cost of Goods Sold
38,000
Depreciation Exp. - Store...