Answer:
Wildhorse Corp. has inventory of $6,653,940
Explanation:
The quick ratio is a liquidity ratio that indicates a company's ability to pay its current liabilities when they come due without needing to sell its inventory or get additional financing. The quick ratio is calculated by the following formula:
Quick ratio = (Cash & equivalents + Short Term investments + Accounts receivable)/Current Liabilities
(Cash & equivalents + Short Term investments + Accounts receivable) = Quick ratio x Current Liabilities = 0.94 x $5,849,000 = $5,498,060
Inventory = Total current assets - (Cash & equivalents + Short Term investments + Accounts receivable) = $12,152,000 - $5,498,060 = $6,653,940
Answer:
1. Accounts Receivables Turnover Ratio = Net Credit Sales/Average Accounts Receivables = 400,000 / (51000 + 61000)/2
= 400,000/56,000
= 7.1 times
Inventory Turnover Ratio = Cost of Goods Sold/Average Inventory = (Sales-Gross Profit)/Average Inventory = (400,000 - 35% * 400,000) / (67000 + 46000)/2
=400,000 - 140,000 / 56,500
= 260,000 / 56,500
= 4.6 times
2. Average Days to Collect Receivables = 365/7.1 = 51.40 or 52 days
Average Days to Collect Inventory = 365/4.6 = 79.34 days
Debit: Your money that is actually yours.
Credit: The banks money that they give you kindove like a loan but not exactly.
Bank: Open to everyone but both have you keep
an account of money.
Credit Union: Only open to a certain group of people but both have u keep an account of money.
Answer:
$6,200
Explanation:
Beginning Work in progress $15,000 $8,000
Units started $60,000 $38,500
Total process $75,000 $46,500
Less: Units transferred to tax $65,000
Ending work in progress $10,000
Average cost method material cost of work in progress = Material cost ÷ Total units
$46,500 ÷ $75,000
= $0.62
Material cost of work in progress = $0.62 × $10,000
= $6,200
Answer
Adjusted Gross Pay=Gross pay – deductions (blank)
Taxable income=Adjusted Gross pay-tax (blank)
Disposable income=taxable income- taxes (blank)
Savings=Disposable income-personal spending (blank)
Explanation
Adjusted gross income (AGI) is the individual income subtracting the deductions. To calculate the AGI we first start with finding the gross income which is a reflection of all the income a person receives over the course of a year. This step will be followed by subtracting the adjustments made such as student loan payments and contribution. This will leave you with the adjusted gross income.
Taxable income is the amount remaining after subtracting the deductions and claiming exemptions from your adjusted gross income. It is used to find the amount of money a person /firm owes to the government in a particular tax year. It is calculated as all your incomes reduced by expenses and other deductions.
Disposable income is money available for usage and saving in a household after subtracting the income taxes. It is also called your net pay. Disposable income is an indicator of the economy in that, it determines consumer spending and determines the demand of goods and services acquired at various prices and a particular time period.
The money left over from the salary after paying government taxes can be spent or saved.When you subtract your spending from the disposable income, you get the savings that a person keeps for future use or investments. Personal savings are calculated by subtracting your personal consumption from the personal disposable income.