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Nat2105 [25]
2 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]2 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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The Texas state _________ commissioner is an elected official responsible for administration and oversight of state-owned lands
kramer

Answer:

Land.

Explanation:

In the U.S. State of Texas, the Texas General Land Office is an agency of the Texas state. This agency is responsible for overseeing lands and mineral rights resources that are under the ownership of the state. This agency is headed by the Land Commissioner of the Texas State. The constitutional purpose of the agency was to "supervise, execute and employ all acts that touch the public lands of Texas.

8 0
3 years ago
Which of the following statements is not correct?
Agata [3.3K]

Answer:

The correct answer is letter "C": Confirmation of cash should only be performed as of the balance statement date because the auditor expresses an opinion as of that date.

Explanation:

Confirmation of cash is an audit procedure in which specialists request the company to get in touch with its banker to verify the organization's balance. The procedure is not based only on the balance statement but according to the transactions the company has carried out regardless of the date.

6 0
3 years ago
Different between internal stakeholder and external stakeholder
Delicious77 [7]

Internal stakeholders are entities within a business (eg. employees, managers, the board of directors, investors). External stakeholders are entities not within a business itself but who are about or are affected by its performance. (eg. consumers, regulators, investors, suppliers)

8 0
3 years ago
The most competitively effective and very likely most profitable long-term approach to reducing or eliminating the impact of pay
monitta

Build and equip a production facility in Europe-Africa and then expand it as may be needed to supply all ( or at least most) of the pairs the company intends to try to sell in Europe-Africa is the most competitively effective and very likely most profitable long-term approach to reduce or eliminate the impact of paying tariffs imported to a company's distribution warehouse in Europe-Africa.

Tariffs are taxes imposed by one country on goods or services imported from another country. Tariffs are trade limitations that raise prices and decrease available quantities of goods and services for U. S. businesses and customers.

A “unit” or specific tariff is a tax levied as a fixed charge for each unit of a good that is imported – for instance, $300 per ton of imported steel. An “ad valorem” tariff is levied as a proportion of the value of imported goods. An example is a 20 percent tariff on imported automobiles.

Learn more about Tariffs here brainly.com/question/8000501

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3 0
1 year ago
On January 20, 2017, Tamira Nelson, the accountant for Picton Enterprises, is feeling pressure to complete the annual financial
Nataliya [291]

Answer:

this case tells us about some sort of pressures that accounts feel when financial statements are needed urgently

Explanation:

1) As for using low estimates, this step was wrong on her part. she should have been upfront in her estimates. for the items that she could not estimate there should have been an indication that such items were still under review, instead of doing what she did to give the financial estimate a good look. Using guesses or deliberately using low estimates was a bad idea, GAAP would never condone that.

She should have met with the president and let him know that finalization of the financial statements would not possible within the time frame that he has given. She could have also explain that such delays are normal and she would have given estimates of when the draft internal copy would be made available to him. such steps she took could have resulted in serious consequences for the company

2) I would not inflate or deflate the figures on purpose to make financial statements look better. If it is time to present the draft and final year-end financial statements I will have to tell the truth on the numbers and estimations used and also the reasons for that. i would have explained the constraints that i was facing. if i was still being pressurized by the president,  i would have no choice than to call it quits instead of going against the ethics of my profession, since there are both ethical and legal implications to not giving inaccurate financial statements.

3 0
3 years ago
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