How quickly must you file a report with the michigan dnr if property damage exceeds $2,000?.

Refer to the following selected financial information from McCormik, LLC. Compute the company's acid-test ratio for Year 2. Year

storchak [24]

Answer:

The company's acid-test ratio for Year 2 is 1.88 times.

Explanation:

Quick asset ratio :

The quick asset ratio is that ratio which shows a relationship between current assets and current liabilities. But it does not include stock. This ratio is used to check the liquidity of the company.

The formula to compute quick asset ratio is computed below:

= Quick assets ÷ current liabilities

where quick assets includes all current assets except stock.

And, the quick assets value is comprises of cash, short term investment and account receivable.

So, the quick asset value = Cash + short term investment + Account receivable

= $37,500 + $90,000 + $85,500

= $213,000

After computing the quick assets, now we can compute the quick asset ratio by using an formula.

= Quick assets ÷ current liabilities

= $213,000 ÷ $113,400

= 1.88 times

Hence, the company's acid-test ratio for Year 2 is 1.88 times.

5 0

4 years ago

Which industry most spurred economic growth and innovation in related industries?

Tatiana [17]

The actual correct answer is A railroads

4 0

3 years ago

Read 2 more answers

One idea for reducing cyberloafing is to develop software that recognizes and categorizes Internet sites into sites that employe

sp2606 [1]

Answer:

The correct answer is True.

Explanation:

Most workers do not spend 100% of their time in the office doing what they are supposed to do. In fact, workers spend around 10% of their workday surfing the internet, sending emails to friends or shopping online. This activity at work is called "cyberloafing."

But it turns out that these behaviors may not be a sign that a worker is lazy or simply wastes time. New research by Stephanie Andel, a professor of psychology at the University of Indiana (USA), suggests that cyberloafing can help workers cope with an exceptionally stressful work environment.

5 0

3 years ago

What would be the cost basis of a new machine with a purchase price of $109,000, with transportation costs of $12,000, installat

Feliz [49]

Answer:

$132,000

Explanation:

The purchase price of the new machine is $109,000

Transportstion cost is $12,000

Installation cost is $5000

Special acquisition fee is $6000

Therefore the cost basis can be calculated as follows

= $109,000 + 12,000 $5,000+ $6000

= $132,000

Hence the cost basis is $132,000

8 0

3 years ago

If a family spends its entire budget in a given time frame, the family can afford either 14 outings or 24 household items. Assum

AURORKA [14]

Answer:

1.71 household items

Explanation:

In this question, we learn that the family will only consume two goods: outings and household items. The family can either have access to 14 outings or 24 household items. This means that:

opportunity cost of 14 outings = opportunity cost of 24 household items

Therefore,

opportunity cost of 1 outing = 1.71 household items

6 0

4 years ago