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Alina [70]
3 years ago
10

The financial statements for Silver Service Company include the following​ items: 2019 2018 Cash ​ $50,500 ​ $42,000 ​Short-term

Investments ​26,000 ​14,500 Net Accounts Receivable ​52,000 ​48,000 Merchandise Inventory ​131,000 ​51,000 Total Assets ​532,000 ​548,000 Accounts Payable ​132,500 ​127,000 Salaries Payable ​16,000 ​ 16,000 ​Long-term Note Payable ​57,000 ​57,000 Compute the​ acid-test ratio for 2018.
Business
1 answer:
Leto [7]3 years ago
4 0

Answer:

0.73 times

Explanation:

The computation of the acid test ratio for 2018 is shown below:

Acid-test ratio = Quick assets ÷ total current liabilities  

where,  

Quick assets = Cash + short-term investments + Accounts receivable (net)  

= $42,000 + $14,500 + $48,000

= $104,500

And, the current liabilities would be

= Accounts Payable + Salaries payable

= $127,000 + $16,000

= $143,000

Now put these values to the above formula  

So, the value would equal to

= $104,500 ÷ $143,000

= 0.73 times

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What is the meaning of 50k in 2018?
kvv77 [185]

Answer:

50,000

Explanation:

i hope it helped ya <3

6 0
2 years ago
Read 2 more answers
Union Local School District has bonds outstanding with a coupon rate of 4.9 percent paid semiannually and 20 years to maturity.
RUDIKE [14]

Answer:

Ans. Price of the bond is $9,250.57

Explanation:

Hi, first we need to establish the semi-annual coupon of the bond and the semi-annual discount rate (YTM semi-annually)

Coupon=10000*(4.9%/2)= $245

To turn the annaul YTM to semi-annual, we have to use the following equation

YTM(semi-annual)=(1+YTM)^{\frac{1}{2} } -1

YTM(semi-annual)=(1+0.056)^{\frac{1}{2} } -1=0.0276

After all this, we are ready to find the price, here is the math of this.

Price=\frac{245((1+0.0276)^{39}-1) }{0.0276(1+0.0276)^{39} } +\frac{(245+10000)}{(1+0.0276)^{40} } =9250.57

Best of luck.

4 0
3 years ago
2. Explain the strengths of a sole proprietorship and wn
adoni [48]

Explanation:

strengths:

1. He or she enjoys all the profit

2. easy to start up

3. decision making is quick

4.he or she can vary the hours of work

weakness:

1.there is lack of finance

2. lack of specialised staff

3.the owner bears all the risk

4.there is unlimited liability

who might start a sole proprietor business

1. a person that wants to be their own boss.

2.extra income.

3.the entrepreneur might think he will make more money working for his self than others.

6 0
2 years ago
The __________ Rate is the interest rate the Fed charges banks and thrifts to borrow to meet the reserve requirement.
adoni [48]

Answer:

Federal funds rate

Explanation:

The federal funds rate is the interest rate at which depository institutions (banks and thrifts) lend reserve balances to each other to meet reserve requirements.

Reserve requirements are the amount of funds required by the central bank  that banks should keep as reserves to meet liabilities

the Federal funds rate is currently  maintained at a range of 0% to 0.25%

5 0
2 years ago
During 2021, a company sells 500 units of inventory for $95 each. The company has the following inventory purchase transactions
Kryger [21]

Answer:

cost of goods sold = $36,285

ending inventory = $1,742

Explanation:

when you use the weighted average cost method you have to calculate the COGS using the total number of units and the total amount paid for them.

beginning inventory = 71 units for $5,325

purchase 1 = 262 units for $18,864

purchase 2 = 187 units for $13,838

total 524 units for $38,027

cost per unit = $38,027 / 524 units = $72.57

cost of goods sold = 500 units x $72.57 = $36,285

ending inventory = 24 units x $72.57 = $1,741.68 ≈ $1,742

6 0
3 years ago
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