Based on the information given the amount of quick assets is $128,694.
Using this formula
Quick assets = Cash + Marketable securities + Accounts receivable
Where:
Cash=$16,106
Marketable securities=$37,992
Accounts receivable=$74,596
Let plug in the formula
Quick assets =$16,106 + $37,992+ $74,596
Quick assets = $128,694
Inconclusion the amount of quick assets is $128,694.
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Answer:
125,200
Explanation:
Adjust inventory to base year prices:
= Cost of ending inventory ÷ cost index for the year
= $136400 ÷ 1.1
= $124,000
Current year LIFO layer:
= Adjust inventory to base year prices - Cost of beginning inventory
= $124,000 - $112,000
= $12,000
Inventory to be shown:
= Add the new LIFO layer at end of period prices to prior year LIFO inventory
= (112,000 × 1) + (12,000 × 1.1)
= 112,000 + 13,200
= 125,200
Answer: Option A
Explanation: In simple words, trade surplus refers to the economic condition under which a country's value of goods sold to other countries, that is, exports is greater than the value of goods it purchases from other countries ,that is, imports.
Trade surplus is seen as a positive indicator of economic growth as a country in surplus will behaving more money to invest in public core services and wont be spending their tax collections on interest and loans taken by international assignations such as IMF or world bank.
Hence from the above we can conclude that the correct option is A.
Answer: Actual overhead costs always enter the Work-in-Process account.
Explanation:
The work-in-process account is an account where the value of goods yet to be completely produced are recorded while the overhead cost is simply a business running cost, that is cost on expenses the business makes to keep functioning.
Overhead cost is not recorded in work-in-process account, rather it is recorded as business expenses.
