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AlladinOne [14]
3 years ago
7

The Golden Braid Bookstore has a quick ratio (Acid Test) of 4.75:1, $40,000 in accounts receivable, and liabilities totaling $80

,000. How much cash do they have?
Business
1 answer:
never [62]3 years ago
6 0

Answer:

Golden Braid Bookstore has $340,000 in cash

Explanation:

Quick ratio=current assets-inventory/current liabilities

Based on the information provided in this question,the quick ratio can be modified(no inventory,cash and accounts receivables are the only current assets)

quick ratio=accounts receivables+cash/current liabilities

quick ratio is 4.75/1

accounts receivables is $40,000

cash is unknown,taken as C

current liabilities is $80,000

4.75=$40,000+C/$80,000

By cross multiplication

4.75*$80,000=$40,000+C

C=(4.75*$80,000)-$40,000

C=$380,000-$40,000

C=$340,000

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Selected information from Large Corporation's accounting records and financial statements for 2013 is as follows ($ in millions)
lozanna [386]

Answer:

In its statement of cash flows, Large most likely reports net cash outflows from investing activities of a. $28 million.

Explanation:

Open an extract of the section of the Cash flow Statement IAS 7 of IFRS and determine the Cash flow from Investing Activities.

Consider only cash flows that relate to purchase and sale of assets.Assets are economic resources controlled by the entity as a result of past events for which economic benefits are expected to flow into the entity.

                                                                             ($ in millions)

<u>Cash flow from Investing Activities</u>

Cash paid to acquire a patent                                    (48)

Proceeds from sale of land and buildings                  75

Cash paid to acquire office equipment                      (70)

Investment revenue received                                      15

Net cash outflows from investing activities               (28)

6 0
4 years ago
Which type of career involves conducting autopsies on a daily basis and what degree (highest degree) is required to get that job
Ratling [72]
The answers to the question above are a Forensic Pathologist and a Coroner, and the highest degree to achieve those career is a Ph.D. A forensic pathologist works to determine the cause of someone's death. A coroner works to certify and to confirm someone's death under a jurisdiction. Both perform the autopsy in their job description.
3 0
3 years ago
The management of Cooper Corporation is considering the purchase of a new machine costing $420,000. The company's desired rate o
liraira [26]

Answer:

b.1.08.

Explanation:

The computation of the present value index is shown below;

As we know that

Present Value Index = Present value of Net Cash Inflow ÷ Initial Cash outflow

where,

Initial investment = $420,000

And, the present value of net cash inflows are

Year        Cash Flow (in $)       PVF at 10%            Present Value (in $)

1               180,000                   0.909                     163,620

2              120,000                   0.826                      99,120

3               100,000                  0.751                        75,100

4                90,000                   0.683                      61,470

5                90,000                   0.621                       55,890

TOTAL                                                                       455,200

So, the present value index is

= $455,200 ÷ $420,000

= 1.08

4 0
3 years ago
Kevin's boat was wrecked by hurricane Harvey (a federally declared natural disaster). Damage to the boat was estimated at $30,00
SVEN [57.7K]

Answer:

A) $4,900

Explanation:

Options are: <em>"A) $4,900 B) $5,000 C) $9,900 D) $14,900"</em>

<em></em>

Particulars                                       Amount

Original cost                                    $25,000

Damage                                           $30,000

Lower of the two is                        $25,000

Less: Insurance reimbursement    <u>$15,000</u>

Actual loss                                       $10,000

Less: Deduction                               $100

Less: 10% of AGI (10% of 50,000)   <u>$5,000 </u>

Final Deduction                               <u>$4,900</u>

Note: Flat $100 is deducted from this amount and also 10% of AGI, i.e 10% of $50,000 is deducted to finally arrive at the deduction.

6 0
3 years ago
What time of the year would you plan a ski vacation in new zealand?
Pavel [41]
Summer, so you'd be able to save money and also plan everything, such as where you'd stay and how long you'd stay there. etc. 
8 0
4 years ago
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