Answer:
0.74
Explanation:
Jones corporation reported a current assets of $196,000
The current liabilities is $138,500
The current assets consists of $61,000 cash , account receivable= $42,100, inventory= $92,900
Therefore the quick ratio can be calculated as follows
= cash + account receivables
= $61,000 + $42,100
= $103,100
$103,100/$138,500
= 0.74
Hence the acid test(quick ) ratio is 0.74
If the U.S. real output is growing, and labor income accounts for about two-thirds of this: on average, workers are getting richer over time.
<h3>What is
income?</h3>
Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.
Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.
Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.
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Answer:
$249,500.
Explanation:
The companny applied 234,000 overhead
it was underapplied by 15,500
This means the actual overhead cost were higher than the amount applied by the company. Actual overhread is the sum of both concepts.
234,000 + 15,500 = 249,500
the estimated overhead for the year was used to determinatethe rate, but is has no relevance to check for applied or underapplied, so we must ignore that data.
Answer:
TRUE
Explanation:
It is true that when an intercompany inventory profit resulting from a sale by a less than 100% owned subsidiary to its parent is eliminated, the full amount (100%) of the decrease in profit is deducted from consolidated net income available to the parent shareholders.
Unrealized profits are the profit element not earned because they were not sold to third parties, it was basically a transfer between one company in a group (for example subsidiary) and another company in the same group (for example to the parent company).
At the year-end, if the goods are still in inventory, any profit thereon cannot be recognized but eliminated. Therefore for consolidation purposes, this unrealized profit element is taken out of inventory value in order to reduce the inventory value back down to the lower of cost or net realizable value.
This is done by crediting the inventory amount and debiting consolidated retained earnings.
Answer:
Coca-Cola sells its products to canning and bottling companies, distributors, wholesalers and retailers.
Explanation:
These channels then distribute them to other retailers, such as gas stations, convenience stores, supermarkets and restaurants.
