Answer:
1.33
Explanation:
Data provided in the question:
Cash = $14,000
Marketable securities = $8,000
Account receivable = $34,000
Current liabilities = $42,000
Now,
Acid Test Ratio
= (Cash + Marketable securities + Account receivable) ÷ Current Liabilities
= ( $14,000 + $8,000 + $34,000 ) ÷ $42,000
= $56,000 ÷ $42,000
= 1.33
Answer:
Income Statement
Revenue $24,698
Expenses
Salaries and employee benefits $8,815
Purchased Transportation $1,203
Fuel Expense $3,228
Rental and landing fees $1,748
Depreciation Expense $925
Maintenance and repairs expense $1,573
Provision for income taxes $805
Other expense (revenue) net <u>$4,995</u>
Total Expenses <u>$23,292</u>
Net Income <u>$1,406</u>
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
6.08%
Explanation:
Rosita's restaurant has a sales of $4,500
The total debt is $1,300
The total equity is $2,400
The profit margin is 5%
=5/100
= 0.05
Therefore the return on assets can be calculated as follows
= profit margin×sales/total debt +total equity
= 0.05×$4,500/($1,300+$4,200)
= 225/3,700
= 0.0608×100
= 6.08%
Hence the return on assets is 6.08%
Answer:
Let Blueberry lemon smoothies A
Let Orange swirl smoothies = B C
Let Triple berry smoothies = C
Gordon’s Smoothie Stand
Allocation of joint costs
A B C Total
Number of cups produced A 21.75 29.00 36.25
Weight B 2.00 1.00 2.00
Weighted Number of cups produced C=A*B 43.50 29.00 72.50 145.00
Cost per batch D 43.00
Cost/Weighted Number of cups produced E=D/C 0.30
Cost allocated to each product F=C*E 12.90 8.60 21.50 43.00
