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Colt1911 [192]
2 years ago
11

As the accountant for Marston Retail Stores, you must calculate the current ratio for the firm's last accounting period. The fir

m's current assets were $120,000, its fixed assets were $240,000, its current liabilities were $80,000, and its long-term liabilities were $60,000. Given these facts, what is the firm's current ratio
Business
1 answer:
I am Lyosha [343]2 years ago
5 0

Answer:

1.5

Explanation:

Current ratio = current asset/current liabilities

This ratio is used to determine how quickly the current assets can be used to settle the current liabilities as they fall due.

current assets = $120,000

current liabilities = $80,000

The firm's current ratio = $120,000/$80,000

                                      = 1.5

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3 years ago
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Business Information Management 1a: Introduction / Unit 2: The Finances of Business
Y_Kistochka [10]

The finances of businesses involve several things, including:

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2 years ago
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Anthony is 17 years of age and attending college in Maine. One day, while skiing he breaks his leg and is taken to the emergency
Liono4ka [1.6K]
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5 0
3 years ago
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Which of the following is a part of applying for a loan?
nlexa [21]

answer:

a good credit score :)

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8 0
3 years ago
On July 1, 2019, Ted, age 73 and single, sells his personal residence of the last 30 years for $368,000. Ted’s basis in his resi
olga_2 [115]

Answer:

Realized gain is $297,144

Recognized gain is $47,144

Adjusted basis for new residence is $175,000

Explanation:

•Ted's Realized gain:

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• Ted's Recognized gain:

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• Ted's basis of the new residence is its cost of $175,000.

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3 years ago
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