Classified Balance Sheet The following balance sheet items, listed in alphabetical order, are available from the records of Ruth Corporation at December 31, 2017: $17,760 Income taxes payable Interest payable Inventory Land Accounts payable Accounts receivable Accumulated depreciation – automobiles Accumulated depreciation – buildings Automobiles Bonds payable, due December 31, 2021 Buildings Capital stock, $10 par value Cash 24,095 22,670 38,440 113,350 153,000 192,200 141,000 13,205 Long-term investments Notes payable, due June 30, 2018 Office supplies Paid-in capital in excess of par value Patents Prepaid rent Retained earnings Salaries and wages payable $5,880 1,435 43,680 227,000 89,630 11,000 2,405 48,000 43,000 1,470 306,920 3,930 Required: 1. Prepare in good form a classified balance sheet as of December 31, 2017.
Ruth Corporation Balance Sheet December 31, 2017 Assets 1. Prepare in good form a classified balance sheet as of December 31, 2017. Ruth Corporation Balance Sheet December 31, 2017 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total property, plant, and equipment Intangible assets: Total assets Liabilities Current liabilities: Total current liabilities Long-term debt: UU Total liabilities Stockholders' Equity Contributed capital: Qul Total contributed capital IN Total stockholders' equity Total liabilities and stockholders' equity 2. Compute Ruth's current ratio. Round your answer to two decimal places. to 1 3. On the basis of your answer to (2), does Ruth appear to be liquid? Get Accounting Homework Help Today.
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