Answer:
Appalachian Beverages
The Updated current ratio is:
= 1.65
Explanation:
a) Data and Calculations:
Current assets = $39,900
Current ratio = 1.90
Current liabilities = $21,000 ($39,900/1.90)
Current Assets:
Beginning balance = $39,900
Inventory $5,100
Cash ($2,000)
Ending balance = $43,000
Current Liabilities:
Beginning balance = $21,000
Accounts Payable $5,100
Ending balance = $26,100
Analysis of Transactions:
1. Inventory $5,100 Accounts Payable $5,100
2. Delivery Truck $10,000 Cash $2,000 Two-year Note Payable $8,000
Updated current ratio = Current assets/Current liabilities
= $43,000/$26,100
= 1.65
The first step ....................................... is to develop and publicize A SOCIAL MEDIA policy.
A social media policy refers to a corporate code of conduct which provides guidelines for the workers of a company who post contents on the internet either in their official or private capacity. It is also called social networking policy.
On January 30, the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
Explanation:
- On November 1, Wright Co. borrowed $20,000 cash from the Third Bank by signing a 90-day, and 6% of interest-bearing note.
- On December 31, it was recorded an adjusting entry to interest expense of $200.
- On January 30, which is the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
- Interest expense is an expense which is known as a non-operating expense which is shown on the income statement. It also represents interest payable amount when it is borrowed. For Example,
- bonds,convertible debt, loans or lines of credit
- The main difference between the interest expense and the interest paid is that the discount amount and this difference changes the net amount of bond liability.
- Interest expense is an amount determined by the interest rate on an account.
<span>The workers had believed that they deserved shorter work days and better pay. The management had believed that the workers did not have a right to strike. Cheap labor was available.
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