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Nat2105 [25]
3 years ago
5

A corporation reports the following year-end balance sheet data. The company's equity ratio equals: Cash $ 58,000 Current liabil

ities $ 93,000 Accounts receivable 73,000 Long-term liabilities 44,000 Inventory 78,000 Common stock 118,000 Equipment 163,000 Retained earnings 117,000 Total assets $ 372,000 Total liabilities and equity $ 372,000a. 0.37 b. 2.25 c. 0.58 d. 0.63 e. 1.41
Business
1 answer:
aleksley [76]3 years ago
8 0

Answer:

Option D. 0.63

Explanation:

Equity ratio can be calculated by dividing Total equity and total

assets as given in the question

DATA

Total assets = $372,000

Total Equity and liabilities = $372,000

Solution

Total equity = total assets - total liabilities

Total equity = $372,000 - $93,000 - $44,000

Total equity = $ 235,000.

Equity Ratio = Total Equity / Total Asset.

Equity Ratio = $ 235,000 / $ 372,000

Equity Ratio = 0.63.

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Product safety has become a hot topic for businesses around the world. The purpose of product safety policies and legislation is
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Answer:

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3 years ago
The Safe-T Airbag Company manufactures airbags that are used in automobiles. Fly Motor Company manufactures automobiles in which
melamori03 [73]

Answer:

(A)Requirements Contract

Explanation:

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3 years ago
ABC Company sells 300 machines for $5000 each in the current year. Each machine carries a one-year warranty. Experience from the
const2013 [10]

Answer:

the journal entry to record warranty expense is:

Dr Warranty expense 30,000

    Cr Warranty liability 30,000

the journal entry to record actual expenses related to product warranties:

Dr Warranty liability 10,000

    Cr Cash (or inventory, or wages payable) 10,000

Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.

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3 years ago
Oakleaf Manufacturing incurs costs of $75 ($67 variable and $8 fixed) to make a product that normally sells for $120. A customer
aleksandr82 [10.1K]

Answer:D. reject the offer because it will produce a net loss $21,000

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3 years ago
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