All categories

3 years ago

Quick Ratio EVANS and Sons, Inc. Income Statement (in millions)

Business

1 answer:

Arlecino [84]3 years ago

4 0

Answer:

0.3793; 0.3333

Explanation:

Quick ratio for 2018 :

= (Cash + Account receivable) ÷ Current liabilities

= ($300 + $800) ÷ $2,900

= $1,100 ÷ $2,900

= 0.3793

Quick ratio for 2019 :

= (Cash + Account receivable) ÷ Current liabilities

= ($100 + $900) ÷ $3,000

= $1,000 ÷ $3,000

= 0.3333

Therefore, the quick ratio for Evans & Sons, Inc., for 2018 and 2019 are 0.3793 and 0.3333, respectively.

You might be interested in

The franchisor generally does NOT provide the franchisee with:

Nonamiya [84]

Answer:

c. wholesale prices on supplies

Explanation:

The franchises provide the financial assistance and are limited to only some of the franchises and provide the location services as they have experiences of choosing a successful location.

<u>Also the training of the people for the manual operations and to carry out the operational services and also serves as the advertising and the efforts on a national regional and the local basis and the needed administrative support in terms of the human resource in the accounting etc.</u>

7 0

3 years ago

1. Dominic Joseph deposits $5,000 in a new savings account at his local bank. The account pays 5.5 percent interest compounded a

klasskru [66]

Answer:

The future value is $6,894.21

Explanation:

Giving the following information:

Dominic Joseph deposits $5,000 in a new savings account. The account pays 5.5 percent interest compounded annually.

To calculate the future value, we need to use the following formula:

FV= PV*(1+i)^n

PV= 5,000

i= 0.055

n=6

FV= 5,000*(1.055)^6= $6,894.21

5 0

3 years ago

A manufacturer has modeled its yearly production function P (the monetary value of its entire production in millions of dollars)

Vinvika [58]

Answer: P(120,30)= $1,218,365.5

So when the manufacturer invests $30 million in capital and 120,000 hours in labour yearly, the monetary value of production is about $1.2 million.

Explanation:

The Cobb-Douglas production function expresses the technological relationship between two inputs (labour and capital).

Since

P(L,K)=1.47L^0.65 K^0.35 (equation 1)

we simply substitute L=120,000 and K=30,000,000 into equation 1.

Thus, P(120,30)= 1.47(120,000)^0.65 (30,000,000)^0.35

<em>(Recall that L is in thousand of hours and K is in millions of dollars).</em>

P(120, 30)= 1.47(2002.02)(413.99)

Thus, P(120,30)= 1218365.475

P(120,30)= $1,218,365.5

P(120, 30)= $1.2 million

So when the manufacturer invests $30 million in capital and 120,000 hours in labour yearly, the monetary value of production is about $1.2 million

7 0

2 years ago

When the LA Galaxy played soccer in a stadium that seated 80,000-90,000 fans, many of the available tickets to each game went un

MaRussiya [10]

Answer:

d) Inventory

Explanation:

In the given question, the LA galaxy company has an issue with the idle production capacity. And the production is of the inventory only, so the other options like Inseparability, Inconsistency, Intangibility, Irrationality are not appropriate in the given example

Thus, the most appropriate option is of inventory as the question is talking about the production capacity so, of inventory the production capacity can be measured.

4 0

3 years ago

Why would having information be a requirement for a purely competitive market?

dusya [7]

Answer:

To no the prices of goods and service and to buy stuff at low prices.

Explanation:

A purely competitive market is a situation where multiplier sellers have homogeneous products. The availability of the information is very important in a purely competitive market in order to decide how many sellers are selling the same product and from where an individual can buy products at low prices. Availability of information means, no seller can earn abnormal profits.

6 0

3 years ago