Accounting Example help

[samalis]

Hey, I am having more trouble than I think I should be having with this example.

http://files.bluegartr.com/732b41c2b...8605c8740a.zip

Here is the excel worksheet, I am having trouble with the last section (Ratios). I feel like I am probably entering the amounts incorrectly.

The last part is pretty much asking me to compute the current ratio, acid test ratio, and gross margin ratio as of January 31, 2013 (Round Ratios to two decimals.)

I am not asking you to do my homework, but I am just wondering if someone could look it over and see what the hell I am doing wrong and why I am a retard.

Edit #1: I skipped ahead and did the gross margin ratio section but I am still having trouble with Acid-Test Ratio and Current Ratio

edit #2: did Acid-Test Ratio correctly but for some reason Current Ratio is still saying incorrect, any help?

[Dizzy's]

This link may help you out, make sure that you are only using the current assets / current liabilitie.

http://accountingexplained.com/finan.../current-ratio

[samalis]

Yeah I have tried that site. I just can't seem to get my calculations correct. I got desperate and guessed the current ratio to be 1.46. I just can't seem to get the total current assets to be $14,600.

I'm pretty much stuck. Here is a updated version for those that can help out.

http://files.bluegartr.com/b6428de12...696d9f9b11.zip

Shit is driving me insane.

[Sqwunk]

Look at the Additional Information. The thing I always disliked about the way a lot of all my old accounting textbooks were setup, was there was a lot of vagueness to what it asks and gives. I think it's because they want you to think about it a little deeper, but it always left me confused.

Cash 1000
Merchandise Inventory 12500
Store Supplies 5800
Prepaid Insurance 2800

and then,

Spoiler: show

Store Supplies on hand at year end. 1750 (which can also be calculated from the 5800 - 4050 Store Supplies Expense)
Expired Insurance 1400 (2400-1400 = 1000)
Ending Inventory 10900 (Can be calculated also from the 12500 - 1600 entry)

Spoiler: show

1000
1750
1000
10900
=14650

14650/10000 = 1.465 Which actually should not come out as correct because of rounding, maybe my calculation is a little off.

[Nesssie]

If those numbers provided are correct, here is my calculation for current assets:
cash 1000
merch inventory 10900
store supplies 1750
prepaid insurance 1000
14650

Edit: Didn't see your calculations but I guess we got the same total.

[samalis]

Just wanted to say thanks. I knew I was doing something wrong.