The adjusted trial balance of Marineland Travel Designers at December 31, 20X6, follows.MARINELAND TRAVEL DESIGNERS Adjusted Trial Balance December 31, 20X6 Cash1,320 Accounts receivable4,920 Supplies2,300 Prepaid rent1,600 Office equipment20,180 Accumulated depreciation—office equipment Rs. 4,350Office furniture37,710 Accumulated depreciation—office furniture 4,870Accounts payable 4,740Interest payable 830Unearned service revenue 620Note payable 13,500Ken Sorley, capital 26,090Ken Sorley, drawings29,000 Service revenue 120,910Depreciation expense—office equipment6,680 Depreciation expense—office furniture2,370 Salary expense39,900 Rent expense17,400 Interest expense3,100 Utilities expense2,670 Insurance expense3,810 Supplies expense2,950 Total175, 910175,910 Find out the following ratiosLiquidityProfitabilityLeverageEfficiency ratio/Asset Activity

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Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter4: Completing The Accounting Cycle

Section: Chapter Questions

Problem 1CP: The unadjusted trial balance of PS Music as of July 31, 2018, along with the adjustment data for the...

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The adjusted trial balance of Marineland Travel Designers at December 31, 20X6, follows.

MARINELAND TRAVEL DESIGNERS

Adjusted Trial Balance December 31, 20X6

Cash	1,320
Accounts receivable	4,920
Supplies	2,300
Prepaid rent	1,600
Office equipment	20,180
Accumulated depreciation—office equipment		Rs. 4,350
Office furniture	37,710
Accumulated depreciation—office furniture		4,870
Accounts payable		4,740
Interest payable		830
Unearned service revenue		620
Note payable		13,500
Ken Sorley, capital		26,090
Ken Sorley, drawings	29,000
Service revenue		120,910
Depreciation expense—office equipment	6,680
Depreciation expense—office furniture	2,370
Salary expense	39,900
Rent expense	17,400
Interest expense	3,100
Utilities expense	2,670
Insurance expense	3,810
Supplies expense	2,950
Total	175, 910	175,910

Find out the following ratios

Liquidity
Profitability
Leverage
Efficiency ratio/Asset Activity

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