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2 years ago

Use the following data to determine the total dollar amount of assets to be classified as current assets

Business

1 answer:

borishaifa [10]2 years ago

6 0

Answer:

the total dollar amount of assets to be classified as current assets is $220,000.

Note that the correct option is $220,000 based on the information provided in the question. However, this is not included in the option. Kindly confirm the correct options from your teacher.

Explanation:

Current assets can be described as a group of assets that are can be easily converted to cash within a year. Current assets are therefore assets which are expected to be used, sold or consumed in a normal business operations within a financial year.

Current assets is one of th component of a balance sheet and its components include cash, inventories, account receivables, advance payment (prepayments), and others.

For this question, the total dollar amount of assets to be classified as current assets can be determined as follows:

Carne Auto Supplies

Current Assets Amount Determination

December 31, 2012

Particulars Amount ($)

Cash 60,000

Prepaid Insurance 40,000

Accounts Receivable 50,000

Inventory 70,000

Total current assets 220,000

Therefore, the total dollar amount of assets to be classified as current assets is $220,000.

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katen-ka-za [31]

The dividend will be $4.015

Explanation:

The given data is: Initial dividend given is = $3 and growth rate given is = 6%

the following formula is used in order to calculate the dividend

dividend at time 5 = d0 multiply with (1+growth rate) power 5

= $3.00 multiply with (1+0.06) power 5

=>$3.00 multiply (1.33822558)

=>$4.015 (rounded to two decimals).

Note : The dividend is the amount that is paid by the company to its shareholders. The amount of dividend may vary from year to year depending upon the profitability level of the company that it earned during the year.

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2 years ago

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Answer:

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Explanation:

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2 years ago

On the income statement, a merchandising company reports the cost of merchandise inventory that had been sold to customers. TRUE

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Answer:

True

Explanation:

The correct answer is - True

Reason -

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The word expense is not written there but it is an expense item on the income statement as a reduction to Revenue.

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Eduardwww [97]

Answer:

After income

Explanation:

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