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2 years ago

Justice enterprises has current assets of $593 million and current liabilities of $316 million. what is their current ratio?

1 answer:

4 0

To solve this problem, first, we must know the formula to get the current ratio.
Currents Assets
Current Ratio= -------------------------
Current Liabilities

So in this problem the current assets and current liabilities are given which are the following:
CA= $593,000,000
CL= $316,000,000

Let's now solve $593,000,000 / $316,000,000 = 1.88

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An IRA uses immediate annuities to pay out benefits; the IRA owner is nearly 75 years old when he decides to collect distributio

soldier1979 [14.2K]

Answer:

50% tax on the amount not distributed as required

Explanation:

In this specific scenario, the individual will have to pay a penalty of 50% tax on the amount not distributed as required. This is mainly due to the fact that traditional IRA accounts require that distribution of benefits must begin no later than age 70½ if immediate annuities are used to pay for them. Failure to do so would have a consequence of a 50% tax on the undistributed amount, and must be paid by the owner of the account.

3 0

2 years ago

True or false: when a company issues common stock, it gives cash to its owners in exchange for stock.

rewona [7]

When a company issues common stock, it gives cash to its owners in exchange for stock is False Option(b) is correct. Since common stock is more presented to the dangers of the business than bonds or favored stock, it offers a more prominent potential for capital appreciation.

<h3>What is a Common stock?</h3>

Common stock is a type of corporate value possession, a kind of safety. The terms casting a ballot offer and conventional offer are likewise utilized regularly beyond the US.

They are known as value offers or standard offers in the UK and other Commonwealth domains. This sort of offer gives the stockholder the option to partake in the benefits of the organization, and to decide on issues of corporate approach and the arrangement of the individuals from the governing body.

The proprietors of common stock own no specific resources of the organization, which have a place with every one of the investors in common.

A partnership might give both standard and inclination shares, in which case the inclination investors have need to get profits. In case of liquidation, standard investors get any leftover supports after bondholders, lenders (counting representatives), and inclination investors are paid.

At the point when the liquidation occurs through insolvency, the conventional investors don't ordinarily get anything.

Therefore Option(b) is correct.

Learn more about stock here:

brainly.com/question/14649952

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8 0

1 year ago

Read 2 more answers

Use commercial bank and Federal Reserve Bank balance sheets to demonstrate the immediate effect of each of the following transac

Leona [35]

Answer: A

Explanation: That’s it

6 0

2 years ago

At the beginning of Year 1, the company's inventory level was stated correctly. At the end of Year 1, inventory was overstated b

Furkat [3]

Answer:

$5,000 ; $2,550

Explanation:

The computation is shown below:

For net income in year 1

= Reported net income + overstated inventory amount

= $3,000 + $2,000

= $5,000

For net income in year 2

= Reported net income - understated inventory amount

= $3,000 - $450

= $2,550

Therefore, the net income in Year 1 and in Year 2 is $5,000 and $2,550 respectively.

5 0

3 years ago

The following partially completed process cost summary describes the July production activities of Ashad Company. Its production

xeze [42]

Answer:

Units Transferred Out $ 663750

Work In Process Ending $ 30440

Direct Materials Costs $ 11.5 per EUP Conversion Costs$6.2 per EUP

Explanation:

Ashad Company

Weighted Average Method

Cost Of Production Report

Equivalent Units of Production

Direct Materials Conversion

Units transferred out 37,500 EUP 37,500 EUP

<u>Units of ending work in process 2,000 EUP 1,200 EUP</u>

<u>Equivalent units of production 39,500 EUP 38,700 EUP</u>

Costs Added

Direct Materials Conversion

Costs of beginning work in

process $13,450 $1,860

<u>Costs incurred this period 440,800 238,080</u>

<u>Total costs $454,250 $239,940 </u>

<u />

Costs per EUP

Direct Materials Conversion

$454,250/ 39,500 EUP $239,940/38,700 EUP

= $ 11.5 per EUP = $6.2 per EUP

Dividing the costs with EUP gives cost per EUP.

Costs Accounted For

Units Transferred Out $ 663750

Materials = $ 11.5 * 37500=$ 431250

Conversion= $ 6.2 * 37500=$ 232500

Total = $ 663750

Work In Process Ending $ 30440

Materials = $ 11.5 * 2000=$ 23000

Conversion= $ 6.2 * 1200=$ 7440

Total = $ 30440

Now adding the costs of Transferred out units and the ending work in process inventory equals the total of the costs added.

$ 663750+$ 30440 = $454,250 + $239,940

$ 694190 = $ 694190

8 0

2 years ago