Answer:
1. A $20 bill
2. A bond issued by a publicly traded company
3. The funds in a money market account
4. Your car
Explanation:
Liquidity means that how easily an asset can be converted into cash.
1. Currency is the most liquid means of medium of exchange, so $20 bill is highly liquid asset.
2. A publicly traded bond can be converted into cash within a couple of days, so it is second most liquid asset.
3. The funds invested in the money market can be withdrawn within agreed period of time which can be in months or days so it can be at seconf or third most liquid asset.
4. A car can take more than a month to locate a customer to sell it at appropriate price so it is the least liquid asset.
Answer:
$245,000
Explanation:
Total assets for Tom Smith Corporation can be calculated as follows:
Cash $5,000
Machinery, $50,000
Depreciation Machinery ($25,000)
Building $150,000
Depreciation Building, ($35,000)
Savings $10,000
Accounts receivable, $30,000
Inventory $10,000
Land $50,000
Total Assets $245,000
Answer:
I. Rex's option is worth at least $100 today.
and
IV. Rex's option has less value today than when he bought it.
The right answer for the question that is being asked and shown above is that: "c. suppliers that are located nearby to decrease delivery lead time." Companies using lean systems generally have <span>suppliers that are located nearby to decrease delivery lead time.</span>
Answer:
The journal entry would include the entry to record for the Cost of goods Sold of $360,000
Explanation:
A journal is a detailed record of all the financial transactions made during a specified period. The journal records are always transferred to the general ledger record. The common features of a journal entry is to enter the date that the financial transaction took place and the associated financial amount that was involved. The financial amount involved is usually utilizes a double entry bookkeeping method. Journals provide physical evidence that a certain transaction took place. The records can be in the form of a book, spread sheet or any form of accounting software. A person charged with the responsibility of keeping journal records is known as a bookkeeper. The bookkeeper generally records the amount of money earned by the company in the form of income and the expenditures.
In the case of Grey Company, the journal entry required would be the Cost of Good Sold being $360,000. The cost of goods sold can be defined as the direct costs that go into the production of goods an services. For example;
Cost of Goods Sold in Grey's Company=Unit cost×number of units sold
where;
Cost of Goods Sold in Grey's Company=unknown, to be determined
Unit cost=60,000 units
number of units sold=$6
replacing;
Cost of Goods Sold in Grey's Company=60,000×6=$360,000
Cost of Goods Sold=$360,000
