What is the largest agency of the u.s. dot?

Highly Suspect Corp. has current liabilities of $450,000, a quick ratio of .89, inventory turnover of 6.5, and a current ratio o

nikitadnepr [17]

Answer:

See below

Explanation:

First , we will compute current ratio

Current ratio = Current asset / Current liabilities

1.25 = Current ratio / $415,000

Current asset = $415,000 × 1.25

Current assets = $518,759

Next is to calculate quick ratio

Quick ratio = Current asset - Inventory / Current liabilities

0.79 = $518,750 - Inventory / $415,000

0.79 × $415,000 = $518,750 - Inventory

$327,850 = $518,750 - Inventory

Inventory = $518,750 - $327,850

Inventory = $190,900

Inventory turnover = Cost of goods sold / Inventory

9.5 = Cost of goods sold / $190,900

Cost of goods sold = 9.5 × $190,900

Cost of goods sold = $1,813,550

3 0

3 years ago

Which of the following items is included in GDP?

loris [4]

Answer:

B. All the above are included in GDP.

Explanation:

GDP is a measure of an economy’s total production and in most cases, it is used to determine how developed or how grown a certain economy is. To calculate the GDP, we take into consideration every form of production within the country. Factors such as consumption expenditure, private domestic investment, government spending, imports and exports are all determinants of GDP. Therefore, the sale of stocks and bonds, sale of services and the sale of used goods, collectively are included in calculation of GDP. Hence the correct answer is B.

7 0

2 years ago

Sales of denim shorts and denim jeans for may totaled $1,955. the shorts sold for $15 each, and the jeans sold for $28 per pair.

Vesnalui [34]

Number of shorts sold=xnumber of Jeans sold =y 100 items were sold x +y=100 eq 1x=100-y The shorts sold for $15 each, and the jeans sold for $28 per pair.Sales of denim shorts and denim jeans for May totaled $1,955. 15x+28y=1955 eq 2

substitute the value of x in second equation 15(100-y) +28y=1955 1500-15y+28y=1955 13y=455 y=35 x=100-35=65 Number of shorts sold=x=65
number of Jeans sold =y=35

7 0

3 years ago

Presented below is information related to equipment owned by Novak Company at December 31, 2020.

Rama09 [41]

Answer:

Debit : Impairment loss $1,250,000

Credit : Accumulated impairment loss $1,250,000

Explanation:

Impairment of an asset happens when, the Carrying Amount of an Asset is greater than the Net Realizable Value of an asset.

Carrying Amount is Cost of asset less Accumulated depreciation. Carrying Amount for the equipment is $10,000,000 ($11,250,000 - $1,250,000).

The Net Realizable Value of an asset is the higher of Fair Value of Asset and Future Value. For the equipment the Net Realizable Value is $8,750,000

Then, since Carrying Amount ($10,000,000) > Net Realizable Value ($8,750,000), the equipment is impaired.

Impairment loss will be $1,250,000 ($10,000,000 - $8,750,000).

The journal entry to record the impairment loss would be :

Debit : Impairment loss $1,250,000

Credit : Accumulated impairment loss $1,250,000

4 0

3 years ago

What did you notice at the wal-mart shareholders meeting? do you think this is different from other shareholders' meetings? why?

UkoKoshka [18]

According to my observation, The shareholder meeting was scheduled to discuss the issue of increasing the limit of minimum wage per hour for the employees. It is different from other shareholders' meetings has it was only conducted to improve the strong market value of the shares.

Explanation:

The employees of the Wal-Mart organization pinpointed their issue to the higher level hierarchy level management. They addressed the issue of about demanding the larger ceiling for the minimum wage up to $15 per hour. It was fixed as $10 per hour for the employees.

The management also realized the need to ensure economic support for the common employees. So they conveyed the decision of increasing the minimum support wages up to $15 per day in shareholders' meetings held recently. So it was considered as the different one from other held meetings.

Apart from searching for the solution of issues from the shareholders' perspective, The meetings were mainly conducted to finalize the decision of increasing the minimum wage support.

3 0

3 years ago