Answer:
Increase and remain the same respectively
Explanation:
Given the above information, we know that current ratio is computed as;
Current ratio = Current assets ÷ Current liabilities
Current ratio = $60,000 ÷ $34,000
Current ratio = 1: 1.76
Working capital is computed as;
= Current asset - Current liabilities
= $60,000 - $34,000
= $26,000
As a result of the above, the current ratio increased because of the reduction in the current liabilities value while the working capital remains the same.
Answer
The correct answer is c. $ 7,500.
Explanation:
The reconciliation of the change in fund balance in governmental fund financial statements to the change in net position for governmental activities in the government-wide financials is computed using the GOES BARE mnemonic. The fact pattern only describes measurement focus (GOES) issues computed as follows:
G Change in Governmental Fund Balance $ 1,500
O Other Financing Sources 0
E Expenditure - Capital Outlay 9,000
(net of depreciation) (3,000)
S Internal Service Fund Net Income 0
Change in Net Position in government
-wide financial statements $ 7,500
Answer:
$190,000
Explanation:
Retained earnings are the profits not distributed to shareholders as dividends. In a given period, retained earnings will be the difference between profits and dividends.
I.e., retained earning = profits - dividends.
Therefore, Ending retained earning can be calculated as
Beginning retained earning + profits - dividends.
In this case
retained earnings = $190,000 + $52,000 - $52,000
=$242,000 - $52,000
=$190,000
Answer:
C) Wolfe can hold either Harris or the employer or both liable.
Explanation:
Since Harris was acting within the scope of his employment, then he and his employer are liable for the injuries that Wolfe suffered. Wolfe can decide to recover from either of them (generally the employer would be chosen) or from both parties, there is no legal limitation.
It doesn't matter who owns the vehicle, what matters is what was Harris doing at the time of the accident; he was performing tasks on behalf of his employer.
If Wolfe died, Harris could face criminal charges, but his employer still would be liable in a civil case.
Answer:
C. by an amount greater than the decrease in reserves.
Explanation:
Due to the deposit multiplier which is determined by the required ratio reserve, the amount of checkable deposits decrease much more than the amount of decrease in the reserves.
It works as detailed:
Deposit Multiplier ∆D = (1/rr) × ∆R where the variation of "D" is determined by the "rr" (Ratio Reseserve) times "R" (Changes in Reserves.)
If the "rr" it's keep at the same level then a change in the "R" (Reserves) will have an impact in the "D" (Deposit) multiplied by the "1/rr".
