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Prepare adjusting entries for the following transactions:
Current Ratio
A liquidity ratio that measures a company's ability to pay short-term obligations, calculated as current assets divided by current liabilities.
Current Liabilities
Short-term financial obligations that are due to be paid within one fiscal year or the operating cycle, whichever is longer.
Non-current Liabilities
Non-current liabilities are obligations a company owes that are not expected to be paid within the next twelve months, including long-term loans, bond payables, and deferred tax liabilities.
Current Assets
Resources anticipated to be turned into cash, disposed of, or used up either within a year or over the course of the operating cycle, depending on which period extends further.
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