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Luda [366]
3 years ago
5

Simon Company’s year-end balance sheets follow.

Business
1 answer:
vivado [14]3 years ago
8 0

Answer:

A.Current ratio

2017 191%

2016 248%

2015 289%

B.Acid Test Ratio

2017 101%

2016 139%

2015 183%

Explanation:

A.Computation of the current ratio for the year ended 2017, 2016, and 2015.

Using this formula

Current Ratio =Current Assets / Current Liabilities

2017 2016 2015

Cash $26,403 $29,364 $29,991

Accounts receivable, net

73,552 52,436 40,392

Merchandise inventory 96,214 70,676 43,017

Prepaid expenses 8,255 7,944 3,467

a.Current asset

204,424 160,420 116,867

b.Current Liabilities

Accounts payable $107,101 $64,564 $40,392

Let plug in the formula

(a) / (b) Current Ratio 191% 248% 289%

Therefore the Current ratio are:

2017 191%

2016 248%

2015 289%

B.Computation for acid-test ratio for the year ended 2017, 2016, and 2015.

Using this formula

Acid Test Ratio=Current Assets / Current Liabilities

2017 2016 2015

Cash $26,403 $29,364 $29,991

Accounts receivable, net

73,552 52,436 40,392

Prepaid expenses 8,255 7,944 3,467

a. Current asset

108,210 89,744 73,850

b. Current liabilities

Accounts payable $107,101 $64,564 $40,392

Let plug in the formula

(a) / (b)Acid Test Ratio 101% 139% 183%

Therefore the Acid Test Ratio are:

2017 101%

2016 139%

2015 183%

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rjkz [21]

The best ground on which the defendant ( Company S ) can dismiss the suit filed by the plaintiff (Company T) is the standing to sue.

<h3>What is standing to sue?</h3>

Standing to sue refers to a situation where the plaintiff who has filed the case must prove with appropriate proof of having damages or injuries in respect of the conduct of the defendant.

In the provided case, Company T has to prove that the products of Company S are actually defective through appropriate evidence. If Company T can't able to prove their alleged claim before the court, then the case is decided in the favor of the defendant party, that is, Company S.

Therefore, the standing to sue can be used as a ground by Company S for dismissing the claim of Company T.

Learn more about the standing to sue in the related link:

brainly.com/question/14820416

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4 0
2 years ago
2. How are school rules similar to state and federal laws? What woud the typical American high school be like if there were no r
jenyasd209 [6]
School rules and government rules are very similar, some similarity are no steeling and drugs and an average high school with no rules would be chaotic. 
7 0
3 years ago
Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company’s policy is to maintain direct materials i
ycow [4]

Answer: Budgeted Raw Material to be consumed in July.

Quantity         Price per pound             Total

10,200                 $6                             $61,200

Explanation:

As for the information provided, the material at month end in hand shall be:

20% of upcoming month's sale.

If in June at month end, the inventory in hand = 2,040 pounds of raw material.

Then, this represents 20% of total requirement of July.

Therefore, total requirement in July = \frac{2,040}{0.20} = 10,200\ pounds

This basically means:

Total inventory required =

Quantity         Price per pound             Total

10,200                 $6                             $61,200

5 0
3 years ago
Consumer surplus is A. the difference between the highest price a consumer is willing to pay and marginal benefit. B. the differ
belka [17]

Answer:

The correct answer is C. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays.

Explanation:

Consumer surplus arises from the law of diminishing returns. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same: the market price. In this way, we enjoy a positive surplus of the first units we acquire until we reach the last one in which the surplus will be zero.

In graphic terms, consumer surplus is measured as the area below the market demand curve and above the price line. The demand curve measures the amount consumers are willing to pay for each unit consumed. Then, the total area below the demand curve reflects the total utility of consumption of the good or service. If the price we pay for each unit is subtracted from this area, the consumer surplus is obtained.

8 0
3 years ago
Faith age 42, orally agreed to work for Trinity, Inc. for the rest of her life for $50,000 per year. This agreement would not be
Paraphin [41]

Answer: False

Explanation:

8 0
3 years ago
Read 2 more answers
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