Answer: $150
Explanation:
Based on the information given in the question, the journal entry provided will be:
Debit Customer $1500
Credit Account Payable (Apple) $1350
Credit Commission income/Revenue $150
Therefore, the revenue that Amazon will recognize for the sale of one MacBook Pro is $150.
Answer:
1) Athena and Aries
2)Tamil/Sanskrit
3) Plato and Euclid
4) Solar energy Wind energy
5)Ruby, emerald
6)Python, Rattlesnake
7)8)9)i have no idea
Explanation:
Answer:
Koski Inc.
Quick Ratio:
Quick Ratio = (Current Assets - Inventory) divided by Current Liabilities
Quick Ratio = $(23,595 - 12,480) / $(17,160 -5,460)
Quick Ratio = 11,115 / 11,700 = 0.95
Explanation:
The quick ratio is a financial metric that shows the short-term liquidity position of a company. It measures the company's ability to settle its short-term obligations using its most liquid current assets. The most liquid assets are cash and near cash current assets.
Inventory is always removed in calculating the most liquid current assets. Inventory will take some time before it can be converted to cash or near cash, given the cash conversion cycle.
The quick ratio is also called the acid-test ratio. It is also considered as more conservative than the current ratio which measures the coverage of current liabilities by all current assets, including inventory.
In our workings, we eliminated inventory from current assets. We also eliminated notes payable which would be rolled over the next year.
Answer:
A) A nondeductible loss.
Explanation:
Since Kim bought the antique for personal use, then she cannot deduct any loss resulting form its sale.
In order to determine if the sale of an antique can generate a deductible loss, the most important factor is the use that the owner gave to the antique. E.g., if the owner bought the antique in order to sell it and generate a profit, but wasn't able to, then the loss resulting from a sale is deductible.
