The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances: Accounts Cash Debits $56,500 40,700 125,800 Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 $223,000 Credits $16,800 45,000 115,000 46,200 $223,000 Provide services to customers on account, $77,400. Provide services to customers for cash, $82,800. Collect on accounts receivable, $47,200. Issue shares of common stock in exchange for $45,000 cash. Purchase supplies on account, $15,100. . Prepare a post-closing trial balance. Pay on accounts payable, $12,800. Pay salaries for employee work in the current year, $79,200. Pay advertising for the current year, $24,000. Pay $4,400 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $4,000 and will be paid January 1, 2025. Accrued sa at year-end amounted to $3,000 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the equal $3,800.

On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts                                                 Debit                    CreditCash                                                       $ 25,100Accounts Receivable                                 46,200Allowance for Uncollectible Accounts                                 $ 4,200Inventory                                                   20,000Land                                                          46,000Equipment                                                15,000Accumulated Depreciation                                                   1,500Accounts Payable                                                                28,500Notes Payable (6%, due April 1, 2022)                                50,000Common Stock                                                                    35,000Retained Earnings…

On January 1, 2024, the general ledger of Big Blast Fireworks includes the following account balances:   Accounts Debit Credit Cash $24,300   Accounts Receivable 42,500   Allowance for Uncollectible Accounts   $2,700 Inventory 42,000   Land 79,600   Accounts Payable   29,200 Notes Payable (8%, due in 3 years)   42,000 Common Stock   68,000 Retained Earnings   46,500 Totals $188,400 $188,400   The $42,000 beginning balance of inventory consists of 420 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions:   January 3 Purchase 1,050 units for $115,500 on account ($110 each). January 8 Purchase 1,150 units for $132,250 on account ($115 each). January 12 Purchase 1,250 units for $150,000 on account ($120 each). January 15 Return 160 of the units purchased on January 12 because of defects. January 19 Sell 3,600 units on account for $576,000. The cost of the units sold is determined using a FIFO…

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Line Item Description Current Year Previous Year Current assets:       Cash $417,200   $318,000     Marketable securities 483,100   357,800     Accounts and notes receivable (net) 197,700   119,200     Inventories 1,167,500   905,200     Prepaid expenses 601,500   578,800       Total current assets $2,867,000   $2,279,000   Current liabilities:       Accounts and notes payable (short-term) $353,800   $371,000     Accrued liabilities 256,200   159,000       Total current liabilities $610,000   $530,000   a.  Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. Line Item Description Current Year Previous Year 1.  Working capital ? ? 2.  Current ratio ? ? 3.  Quick ratio ? ?  from the preceding year to the current year. The working capital, current ratio, and quick…