Notes payable ($60,000 due after 12/31/15)
Unearned service revenue
Other long-term debt ($90,000 due in 2015)
Salaries and wages payable
In addition, Medlen is involved in a lawsuit. Legal counsel feels it is probable Medlen will pay damages of $25,000 in 2015.
(a)Prepare the current liability section of Medlen”s December 31, 2014, balance sheet.
(b)Medlen”s current assets are $570,000. Compute Medlen”s working capital and current ratio.
Buy an essay in any subject you find difficult—we’ll have a specialist in it ready
Ask for help with your most urgent short tasks—we can complete them in 4 hours!
Get your paper revised for free if it doesn’t meet your instructions.
Contact us anytime if you need help with your essay
APA, MLA, Chicago—we can use any formatting style you need.
Get a paper that’s fully original and checked for plagiarism