Answer:
Luther Corporation
Current Ratio for 2006 is closest to:
1.1 : 1
Explanation:
a) Data and Calculations:
Total Current Assets = $144 million
Total Current Liabilities = $132 million
Current Ratio = Current Assets/Current Liabilities
= $144/$132
= 1.1 : 1
b) Luther Corporation's current ratio is a liquidity measure that shows Luther's ability to pay off short-term obligations worth $132 million or those due within one year with its current assets of $144 million. The ratio tells investors and analysts of Luther Corporation how Luther can use its current assets to pay off its current debts. Since Luther's current ratio is higher than 1, it is considered good, depending on the industry average. This means that Luther's current ratio of 1.1 : 1 should not be considered in isolation, but in comparison with other firms in the industry and its performance over a number of years.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) Partnership
b) C Corporation
c) S Corporation
d) Limited Liability Company
e) Limited Liability Partnership
And the correct answer is the option D: Limited Liability Company.
Explanation:
To begin with, the name of <em>"Limited Liability Company" </em>refers to a type of form of business, in the field of business law, that is helpful to adapt and use for some owners regarding the particular characteristics that this form gives to them. So once said that, this type of business form has the characteristics of both a corporation and a partnership so that means that it is quite flexible and can adapt depending on the situation that the owner is having. Moreover, one of the most important aspects of this type of form is the fact that the owner has a limited liability to what happens in the company so that means that his private assets are secure under this form.
Answer: Please see below
Explanation:
a. Journal to record the entry to establish the petty cash fund.
Account Particulars Debit Credit
Petty Cash $750
Cash $750
b. Journal to record the entry to replenish the petty cash fund.
Account Particulars Debit Credit
Office Supplies $248
Misc Selling Expense $212
Miscellaneous administrative expense, $96.
Cash Short and Over $18
Cash $574
To calculate Cash Short and Over= $750-(248+212+ 96)= 750 -556= $194
but the money in the pettycash fund On April 1 is $212.
therefore Cash short and over = $212-$194 = $18
Answer:
True
Explanation:
When a firm has international operations it should choose the most appropriate structure based on the following factors:
- extent of international expansion: into how many international regions do we plan to expand our activities.
- the type of strategy: the have to choose between global, multidomestic or international strategy
- the degree of product diversity: on how many additional markets will our products compete? regionally or globally
Although 1 and 3 may be similar, there can be significant differences. For example, a US company may want to start selling their products in all of South America (regional product diversity), but it will do it by setting a South American office in Brazil only (international expansion is limited to Brazil only).
Answer: 32
Explanation:
Since each burger cost $6
2 burgers = 6×2 = $12
Each fries cost $3
4 fries = 4×3
= $12
Total cost of his orders = 12+12 =$24
Since is weekly budget is $48
Hence,
48-32 = 8
Since he has 8 utility left. He only has a total order of $ 32
