The Calendar Year-End Adjusted Trial Balance for Blessinger Co Required:
(A) Determine the Amounts of Current Assets and Current

question 61

Essay

The calendar year-end adjusted trial balance for Blessinger Co. follows:


$$\begin{array} { | l | r | r | } \hline \text { Rent expense } & 5,000 & \\\hline \text { Depreciation expense-Equipment } & 800 & \\\hline \text { Depreciation expense-Building } & \underline { 7,000 } & \\\hline \text { Totals } & \$ 1,500,800 & \$ 1,500,800 \\\hline\end{array}$$ Required:
(a) Determine the amounts of current assets and current liabilities. (Note: A $9,000 installment on the long-term note payable is due within one year.)
(b) Calculate the current ratio. Comment on the ability of Blessinger Co. to meets its short-term debts.

---

Definitions:

Marginalized

A status affecting individuals or groups pushed to the edge of society, resulting in limited access to resources and opportunities.

Sexual Reassignment Surgery

Surgical procedures that change one's bodily appearance and sexual characteristics to better match a person's gender identity.

Oppression

A situation where individuals or groups are subjected to unjust treatment or control by others, often involving the abuse of authority or power.

Social Services Agency

An organization that provides support and resources for the welfare of the community, particularly for those in need.