Business, 27.05.2020 18:01, sidney2602

The fiscal year-end unadjusted trial balance for Garcia Company is found on the trial balance tab. Rent expense and salaries expense are equally divided between selling activities and general and administrative activities. Garcia Company uses a perpetual inventory system. Descriptions of items that require adjusting entries on January 31, 2019, follow.
1. Store supplies still available at the fiscal year-end amount to $2,150.
2. Expired insurance, an administrative expense, for the fiscal year is $1,560.
3. Depreciation expense on store equipment, a selling expense, is $6,700 for the fiscal year.
4. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,150 of inventory is still available at fiscal year-end.
Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2017. (Round your answers to 2 decimal places.)

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The fiscal year-end unadjusted trial balance for Garcia Company is found on the trial balance tab. R...