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Vinvika [58]
3 years ago
12

Scrubber, Inc, presented the following information in a note to its financial statements for the year ending December 31, 2016.

Business
1 answer:
Reil [10]3 years ago
7 0

Answer:

Yes, the cash balance is less than $75,000

Explanation:

a. b

Current ratio is more than required : No violation

Debt to equity ratio is less than stated: No violation

Cash balance as per books exceed 75000 but as per bank book less: violation

(As per bank reco the amount is different as company may not recorded bank charges and expenses as reflected in bank statement.

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Would you rather be a juvenile prosecutor or defense attorney? Explain your decision.
balandron [24]

Answer:

<u>a defense attorney instead</u>

<u>Explanation:</u>

From a financial standpoint, a <u>defense attorney</u> would more likely make more money than a<u> juvenile prosecutor</u> because a defense attorney could charge up more for certain cases than been a juvenile prosecutor who wants to ensure someone is convicted.

Also, in terms of purpose, I do feel a defense lawyer could make more impact socially by defending his or her clients.

6 0
3 years ago
Identify the possessive pronoun in the following sentence: "I love my new computer!"
Vanyuwa [196]

Answer:

A

Explanation:

5 0
2 years ago
On January 1, 2012 Morgan Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $5,00
Novay_Z [31]

Answer:

Annual depreciation= $2,700

Explanation:

Giving the following information:

Morgan Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $5,000 salvage value.

The straight-line depreciation method provides an annual depreciation expense by dividing the book value by the number of useful years.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (32,000 - 5,000)/10= $2,700

8 0
3 years ago
Foxtrot Co. started 2021 with $113,000 of merchandise inventory on hand. During 2021, $480,000 in merchandise was purchased on a
Marina CMI [18]

Answer:

$211,772

Explanation:

The computation of ending inventory is shown below:-

Discount = ($480,000 - $3,600) × 2%

= $9,528

Cost of goods for sale = Beginning inventory + purchases - returns at invoice price - Discounts + Freight - Cost of goods sold

= $113,000 + $480,000 - $3,600 - $9,528 + $7,900

= $587,772

Ending inventory = Cost of goods for sale - Cost of goods sold

= $587,772 - $376,000

= $211,772

So, the right answer is $211,772. Hence the option is not available.

4 0
3 years ago
Which items listed on the ledger represent credits? a. Credit bill and craft fair b. Gift and online auction c. Gift and insuran
Yuki888 [10]
The answer to your question is B 
8 0
2 years ago
Read 2 more answers
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