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3 years ago

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 $2,180,000

Total Current Assets $3,820,000

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

accrued wages and taxes $540,000

accounts payable $840,000

notes payable $680,000

Total Current Liabilities $2,060,000

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

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On November 30, 2020, a U.S. company purchased merchandise on credit from a Swiss supplier at an invoice price of CHF1,000, when

Ivanshal [37]

Answer:

The merchandise should be reported on the U.S. Company's December 31, 2020 balance sheet at:

b. $1,050

Explanation:

a) Data and Calculations:

November 30, 2020 Inventory purchase = CHF1,000

Exchange rate on this date = $1.05/CHF

Inventory worth = $1.05 * CHF1,000 = $1,050

b) The inventory should be reported on December 31, 2020 at $1,050. It does not need to be reported at a value above or below this. Even, the debt owed to the Swiss supplier will be reported at this price. It is when payment for the invoice is being made on February 1, 2021 that consideration will be given to the exchange rate at which payment is made.

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3 years ago

he following information relates to a company’s aggregate production planning activities: Quarter Demand Forecast 1 37,500 2 45,

Evgen [1.6K]

Answer:

20,000 units

Explanation:

Number of units in inventory at the end of quarter 3

= 3(42,500)

=127,500

Hence:

127,500- 37,500-45,000-25,000

= 20,000 units

Therefore if production strategy is used the number of units in inventory at the end of quarter 3 is 20,000 units

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3 years ago

Which of the following accurately describes

Setler [38]

Answer:

What accurately describes Shareholder's Equity is all of the above, because it's all just simplified/different terms for investment in one another company's business :3

Explanation:

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3 years ago

What is one of the benefits of the current pattern of global trade?

Harlamova29_29 [7]

Answer:

The correct answer is A. One of the benefits of the current pattern of global trade is that consumers pay lower prices for goods and services.

Explanation:

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3 years ago

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