1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
hoa [83]
3 years ago
14

You are evaluating the balance sheet for PattyCake’s Corporation. From the balance sheet you find the following balances:

Business
1 answer:
goldenfox [79]3 years ago
5 0

Answer:

Explanation:

Current Assets are those asset which will be liquidated within next one year.

cash and marketable securities        $360,000

accounts receivable                           $1,280,000

inventory                                             <u>$2,180,000</u>

Total Current Assets                          <u>$3,820,000</u>

Current Liabilities are those which is payable within next one year.

accrued wages and taxes                   $540,000

accounts payable                                $840,000

notes payable                                      <u>$680,000</u>

Total Current Liabilities                       <u>$2,060,000</u>

Current ratio measures the capability of a business to pay the current liabilities if it becomes due.

Current Ratio = Current Assets / Current Liabilities = $3,820,000 / $2,060,000 = 1.85 times

You might be interested in
Alain Mire files a single tax return and has adjusted gross income of $309,000. His net investment income is $48,000. What is th
Anuta_ua [19.1K]

Answer: $1,824

Explanation:

According to the IRS, Net Investment Income tax is the lesser figure of either,

i. The net investment income or,

ii. Modified adjusted gross income less the threshold of $200,000 of the person.

The lesser figure is then multiplied by 3.8% to find the tax.

Alain Mire's net Investment Income is $48,000.

His Modified adjusted gross income less the threshold of $200,000 is,

= 309,000 - 200,000

= $109,000

The lesser figure is his Net Investment Income so Additional Tax is,

= 48,000 * 3.8%

= $1,824

5 0
3 years ago
In Mesopotamia, the ownership of property and the specialization of trades and crafts made visual identification necessary. Imag
marin [14]

Answer:

Cylinder seals

Explanation:

The human species originated in Africa around 300,000 years ago, but the first civilization that modern archaeologists have discovered was located in Sumer, Mesopotamia, around 10,000 BC.

Mesopotamians invented agriculture, writing, art, culture and trade. One of the ways to control goods produced and traded was to trademark them with cylinder seals specially to mark items on clay. They used clay a lot, for writing, pottery and construction.  

5 0
3 years ago
Read 2 more answers
Unearned fees appear on the a.income statement as revenue b.balance sheet in the current assets section c.balance sheet in the o
ZanzabumX [31]

Answer:

The answer is D. balance sheet as a current liability

Explanation:

Unearned fee is the amount that has been collected before rendering a service. For example, a customer paid in advance for goods that have been delivered, a football season ticket holder. The full service has not been rendered. So it is recognized as a liability because the customer can terminate the contract anytime.

As the service is being rendered, maybe monthly, quarterly or weekly, revenue is recognized and unearned fee decreases.

For example, a customer paid a $12,000 on Jan 1. for monthly delivery of magazine for a year. Here, the customer paid for a service that last till Dec 31st.

What will be recognized as revenue monthly is $1,000($12,000/12months) and unearned revenue too decrease by $1,000 monthly

4 0
2 years ago
In contemporary Japanese society, a group is associated with:______
ElenaW [278]

Answer:

d. the company a person works for.

Explanation:

In contemporary Japanese society, a group is associated with the company a person works for.

A group typically comprises of two or more people who share some things in common such as identity, aims, interest and are willing to work in an accord.

Hence, the company or organization an individual works for, is usually considered to be a group in the contemporary Japanese society.

This is so because employees are blinded by a common goal, aim, interest to allow them work effortlessly, effectively and efficiently together.

3 0
3 years ago
The product life cycle is theoretically __________ with regard to sales and profits. Group of answer choices U shaped Y shaped b
m_a_m_a [10]

Answer:

regards

can you please call me when you get a chance

Explanation:

good morning I will be in touch with you doing today I hope you are doing well and that you are you doing today

4 0
2 years ago
Other questions:
  • The 2003 iraqi war destroyed large amounts of capital. later, insurgent activity continued to destroy capital and created instab
    13·1 answer
  • A registered investment adviser often recommends real estate limited partnership investments to her wealthy clients. The RIA's p
    11·1 answer
  • Assume that product Alpha and product Beta are both priced at $1 per unit and that Ellie has $20 to spend on Alpha and Beta. She
    5·1 answer
  • Kevin Pinker is a freelance computer programmer who writes computer algorithms for companies such as SoftStar and BlueHill. Soft
    11·1 answer
  • A company has large number of employees who have various roles and responsibilities. many times the company has encountered situ
    5·1 answer
  • John buys a watch for $100 at a vintage store. Later, the store learns that the watch was worn by Sean Connery in a James Bond m
    15·1 answer
  • Characteristics of customer _____ include customer retention and loyalty, customers’ willingness to make an effort to do busines
    9·1 answer
  • Help
    10·1 answer
  • Alpaca Corporation had revenues of $300000 in its first year of operations. The company has not collected on $19900 of its sales
    11·1 answer
  • Mention three reasons for depreciation​
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!