Use the Information in the Adjusted Trial Balance Presented Below

question 56

Multiple Choice

Use the information in the adjusted trial balance presented below to calculate the current ratio for Taron Company:
$\begin{array}{lrr}\text {Account Title}&\text {Dr.}&\text {Cr} \\\text { Cash } & \$ 23,000 \\\text { Accounts receivable } & 16,000 \\\text { Prepaid insurance } & 6,600 \\\text { Equipment } & 100,000\\\text { Accumulated depreciation-Equipment } & & \$ 5,000 \\\text { Land } & 95,000 & \\\text { Accounts payable } & & 17,000 \\\text { Interest payable } & & 2,400 \\\text { Unearned revenue } & & 5,000 \\\text { Long-term notes payable } & & 30,000 \\\text { Retained earnings } & & 136,200 \\\text { Totals } & \$ 240,600 & \$ 240,600\end{array}$

• A) 1.87.
• B) .54.
• C) 3.92.
• D) 1.77.
• E) 1.60.

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Definitions:

Merkel Cells

Specialized cells found in the skin that are involved in the sense of touch, particularly in detecting pressure and texture.

Receptive Field

The specific area within the visual world that elicits a response from any sensory neuron.

Lamellated Corpuscles

Pressure receptors in the skin and other organs that respond to deep pressure and vibration.

Ruffini Corpuscles

Sensory receptors in the skin that respond to stretch and sustained pressure.