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Unformatted text preview: P3-8A Name: Alyssa Jacobs Section: 02 Date: 09/18/07 Req. 1 Gay Gillen eTravel, Inc. Classified Balance Sheet Dec. 31, 20X5 Current Assets: Cash Accounts receivable Prepaid expenses Total current assets Less: accumulated depreciation Furniture Notes receivable Other assets Total assets Current Liabilities: Accounts payable Portion of notes payable Salary payable Unearned commision revenue Total Current liabilities Long Term liabilities: Notes payable Owner's Equity: common stock retained earnings Total Owner's Equity Total Liabilities and Owner's Equity 7,300 6,600 7,700 21,600 -11,600 41,400 4,000 3,600 59,000 5,100 2,200 3,900 5,400 16,600 10,600 15,000 16,800 31,800 59,000 P3-8A Name: Alyssa Jacobs Section: 02 Date: 09/18/07 Req. 2 Current ratio: Total current assets Total current liabilities Debt Ratio: Total Liabilites Total Assets 59,000 27,200 2.17 21,600 16,600 1.30 Conclusion: his overall ability to pay off debts decreased. ...
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