A comparison of the subsidiary accounts to the schedules of accounts payable will help the accountant to <u>A. prove the accounts payable accounts at the end of a period.</u>
<h3>What is a Subsidiary Account?</h3>
A subsidiary account tracks the information of certain transactions in detail. Some of the most important subsidiary accounts include accounts receivable and accounts payable.
Thus, by comparing the subsidiary accounts to the schedules of accounts payable, an accountant proves the existence and completeness of the accounts payable balance at the end of a period.
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Answer:
Appalachian Beverages
The Updated current ratio is:
= 1.65
Explanation:
a) Data and Calculations:
Current assets = $39,900
Current ratio = 1.90
Current liabilities = $21,000 ($39,900/1.90)
Current Assets:
Beginning balance = $39,900
Inventory $5,100
Cash ($2,000)
Ending balance = $43,000
Current Liabilities:
Beginning balance = $21,000
Accounts Payable $5,100
Ending balance = $26,100
Analysis of Transactions:
1. Inventory $5,100 Accounts Payable $5,100
2. Delivery Truck $10,000 Cash $2,000 Two-year Note Payable $8,000
Updated current ratio = Current assets/Current liabilities
= $43,000/$26,100
= 1.65
Answer:
The first term of an arithmetic sequence is 10 and its common difference is
negative seven. What is the fourth term of the sequence?
The fourth term is -11
Explanation:
a.p= a1 + (n-1)d
a.p= 10+ (4-1) -7
a.p= 10 + (3) -7
a.p= 10 - 21
= -11
a1= first term
n= nth term
d= difference
Brutus co's leverage ratio is 40%
<h3>What leverage ratio?</h3>
- The weighted average cost of capital (WACC), which includes common stock, preferred stock, bonds, and other types of debt, is the average after-tax cost of capital for a company. The WACC is the typical interest rate that a business anticipates paying to finance its assets.
- The rate that a business is anticipated to charge on average to all of the holders of its securities in order to fund its
Cost of capital is 6%, its equity cost of capital is 11%, its weighted average cost of capital is 5.8% and its tax rate is 25%.
WACC = (5.8% x 25%) + (5.8% x 11% x 6%)
WACC = 3.973
WACC = 40%
Brutus co's leverage ratio is 40%
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Answer:
False
Explanation:
The provision of the Uniform Commercial Code as amended is that any missing terms such as price, quantity,location and expected time of delivery as well as payment terms can be added to the contract later on with consent of all parties involved or provided in compliance with other commercial codes.
In other words,the fact that payment should be made within seven working days when payment terms are missing is alien to Uniform Commercial Code.
The answer, therefore is false.
