Answer:
2.20 times
Explanation:
The computation of the current ratio is shown below:
Current ratio = Total current assets ÷ Total current liabilities
where,
Total current assets = Cash + account receivable + inventory
= $5,000 + $125,000 + $200,000
= $330,000
And, the total current liabilities is
= Income tax payable + account payable
= $50,000 + $100,000
= $150,000
So, the current ratio is
= $330,000 ÷ $150,000
= 2.20 times
Answer:
$35,000
Explanation:
<em>Use the provided cost formula :</em>
Selling and administrative expense = $15,000 + $5y
where,
y is the number of units sold
Therefore,
Selling and administrative expense = $15,000 + $5 x 4,000 units
= $35,000
Answer:
B
Explanation:
The Lower of Cost or Market Value Applies to the closing inventory and should be value at $103,700 Cost, which is the lower.
$54,500 was the service cost for the year
Solution:
Beginning PBO ($7,000/10%) $70,000
Service cost 54,500*
Interest cost 7,000
Retiree benefits paid (14,500)
Ending PBO $117,000
*$117,000+ $14,500–$7,000 -$70,000= $54,500
Answer:
losing money
Explanation:
Helps save you from the out of pocket expense if something bad were to happen.
For example if your roof was damaged by a natural disaster it could cost thousnads of dollars out of a persons pocket.
Insurance will pay the cost to repair it allowing you to be protected from losing money.