Answer:
See below
Explanation:
1. The current ratio is the sum of current assets divided by current liabilities. It used to measure the ability of the airlines accessories to meet its short term obligation due within a year
Current ratio = $93 million + $85 million + $9 million / $80 million + $26 million 
Current ratio = $187 million / $106 million
Current ratio = 1.76:1
Current ratio = 1.76 times 
2. Acid test ratio. This measure liquidity but with adjustment for risky current assets i.e Inventory 
Acid test ratio = Current assets - Inventories / Current liabilities
Acid test ratio = ($187 million - $173 million) / $106 million 
Acid test ratio = $14 million / $106 million
Acid test ratio = 0.13:1
Acid test ratio = 0.13 times 
 
        
             
        
        
        
Answer: variable costs of $49,500 and $23,000 of fixed costs
Explanation:
A flexible budget refers to the budget which adjusts to the volume levels of a company. 
Based on the information given in the question, the variable cost will be:
= (44000/8000) x 90000
= $49500 variable 
On the other hand, the fixed cost has been given as $23000. 
Therefore, the flexible budget would show variable costs of $49,500 and $23,000 of fixed costs. 
 
        
             
        
        
        
Answer:
C
Explanation:
When consolidating parent and a wholly-owned subsidiary we aim to eliminate entries related to the inter company services. Since the subsidiary had recorded a debit to service expense when it was rendered, the adjusting entry would be a credit to the service expense amount by the same figure charged i.e. $600,000 in this case
 
        
             
        
        
        
Answer:
$2,500
Explanation:
The calculation of American opportunity tax credit is shown below:-
According to the given situation, Steve's part-time job wouldn't come in between his not applying for the credit as the AGI is lower than the applying number.
Therefore, the credit would be 100% of first is
= $2,000 + 25% (Increased)
= $2,500