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valentina_108 [34]
3 years ago
13

Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $28,638 Accou

nts receivable 64,301 Accrued liabilities 6,777 Cash 18,105 Intangible assets 39,288 Inventory 87,492 Long-term investments 90,949 Long-term liabilities 71,756 Marketable securities 36,573 Notes payable (short-term) 27,962 Property, plant, and equipment 620,674 Prepaid expenses 2,418 Based on the data for Harding Company, what is the amount of quick assets?
Business
1 answer:
inn [45]3 years ago
4 0

Answer:

$119,159

Explanation:

The computation of the quick asset is shown below:

Quick assets = Cash + Marketable securities  + Accounts receivable

                     = $18,105 + $36,753 + $64,301

                     = $119,159

Only these items i.e cash, marketable securities and the account receivable are shown in the quick assets

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I need help with economic hw can someone come up with a example for scarcity and choice, opportunities cost
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Scarcity occurs when the demand for something exceeds the supply. Examples often occur with natural resources when they are over used. Think of over fishing, hunting or poor farming. The choice to over hunt in present may cost hunting opportunities in the future.

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3 years ago
A company's Office Supplies account shows a beginning balance of $630 and an ending balance of $460. If office supplies expense
nalin [4]

The correct answer is that there was $3,080 worth of office supplies purchased during the period.

In order to answer this question you know that the company started with $630 worth of office supplies and ended the year with $460 worth, or $170 less than they started with. The company used $170 of supplies from inventory, so they needed to purchase another $3,080 in order arrive at the $3,250 that we know was the total expense during the reporting period.

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3 years ago
Smiley Corporation sold equipment costing with of accumulated depreciation for cash. Which of the following journal entries shou
Pani-rosa [81]

The question is incomplete as the figures are missing. The complete question is,

Smiley Corporation sold equipment costing $72, 000 with $66, 000 of accumulated depreciation for $10, 000 cash. Which of the following journal entries should be prepared?

A. debit Cash for $10, 000, credit Equipment for $6000 and credit Gain on Sale of Equipment for $4000

B. debit Cash for $10, 000, debit Accumulated Depreciation - Equipment for $66, 000, credit Equipment for $72000 and credit Gain on Sale of Equipment for $4000

C. debit Cash for $10, 000 and credit Gain on Sale of Equipment for $10, 000

D. debit Accumulated Depreciation - Equipment for $66, 000 and credit Equipment for $66, 000

Answer:

Option B is the correct answer.

Explanation:

To calculate the gain or loss on disposal of the equipment, we first need to determine the book value of the equipment on the date of sale.

Net Book Value = Cost - Accumulated depreciation

Net Book value = 72000 - 66000   = $6000

The gain/(loss) on disposal = Sales Proceeds - Net Book value

The gain/(loss) on disposal = 10000 - 6000 = $4000 Gain

The entry to record this transaction will be,

Cash                                                              $10000 Dr

Accumulated depreciation - Equipment     $66000 Dr

          Equipment                                                   $72000 Cr

          Gain on sale-Equipment                             $4000 Cr

6 0
3 years ago
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ANTONII [103]

Answer:

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