All categories

3 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

You might be interested in

During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2015, yo

SVETLANKA909090 [29]

Answer:

adjusted income: 92,830

Explanation:

a) 20,400 contract for a year

20,400 / 12 = 1,700 value per month

from Oct 1st to Dec 31th: 3 months for a total of 5,100 expense

b) we should decrease revenue by 3,400

c) we should reverse 2,450 supplies expense and post under supplies

d) principal x rate x time = interest

64,000 x 0.09 x 4/12 = 1,920 interest expense

94,000 - 5,100 insurance expense + 3,400 unearned revenue +2,450 reversing of supplies expense - 1,920 interest expense

adjusted income: 92,830

6 0

3 years ago

True or false. Unemployment compensation is generally unavailable for people who quite a job without good cause

Delicious77 [7]

Answer:

true; unemployment compensation is generally unavailable for people who quite a job without good cause

Explanation:

6 0

2 years ago

recommend ways in which business can contribute some an effort to advance the well-being of others in business context in improv

lisov135 [29]

The answer is settling on morally revise business choices.

8 0

3 years ago

(C____________ ) among buyers and sellers prohibits a single buyer or seller can dictate the price of a product or resource beca

Sergeu [11.5K]

Answer:

(Competion____________ ) among buyers and sellers prohibits a single buyer or seller can dictate the price of a product or resource because others can undercut that price. The regulatory mechanism of the market system is ( competition___________ ). As the result, the ( _economic_________ ___power_____ ) is widely distributed. In other words, competition diffuses ( __economic________ ___power______ ) and limits the actions of any single seller or buyer.

Explanation:

Economic power refers to the ability of countries, businesses, or individuals to improve their standard of living, making decisions that benefit themselves alone, and reducing the ability of any outside force to reduce their freedom. Competition refers to the selling and buying of goods and services with others, who are also selling and buying the same goods and services. It balances economic power, preventing a single individual from monopolizing the market interaction.

6 0

3 years ago

On January 1, Hurley Corporation issues $500,000, 5-year, 12% bonds at 96 with interest payable on January 1. The entry on Janua

KonstantinChe [14]

Answer:

b. credit to Cash $60,000.

Explanation:

Given that:

Hurley Corporation issues the principal amount of $500,000

Time = 5 years

Rate = 12% at 96 with interest payable on January 1

Discount on issue =500000 × (1 - 0.96) = 20000

Annual discount amortization= 20000/5 = 4000

Interest payable = 500000× 12% = 60000

From the information given in the question; we can have a journal entry to determine the what the straight-line method will include.

So, let have a look at the table below:

Discount on issue 20000

Annual discount 4000

amortization

Debit Credit

Interest expense 64000

Discount on Bonds payable 4000

Interest payable 60000

Now; The January 1 entries will now be as follows:

Debit Credit

Interest payable 60,000

Cash 60,000

Thus; The entry on January 1 to record payment of bond interest assuming amortization of bond discount used the straight-line method will include a: Credit to cash $60,000

3 0

4 years ago