Acid test or quick ratio is the liquidity ratio that is most stringent because it
eliminates inventory in its measurement.
Acid test ratio can be calculated by:
<u>Current assets - inventory</u>
current liabilities
Acid test ratio eliminates the inventory which is the least liquid asset from
current assets. This ratio help companies determine how fast it can convert
its assets into cash in order to take care of its liabilities.
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Answer:
37
Explanation:
Just do the math and you'll find that is 37
Answer:
$700,000
Explanation:
Data provided in the question
Sales price of the home = $960,000
Cost price of the home = $260,000
Based on the above information,
The computation of the amount of gain included in gross income is shown below:
= Selling price of the home - cost price of the home
= $960,000 - $260,000
= $700,000
Hence, the amount of gain i.e $700,000 is included in the gross income
Well yes but there’s no proof of the harassment if it’s not directed to either the company or the supervisor
Answer:
The journal entry at the time when great adventures obtains the $30,000 loan is:
Account Title Debit Credit
Cash 30,000
Notes Payable 30,000
The interest accrued at the end of each month would be:
30,000 * 6% = 1,800/12 = $ 150
Interest entry would be made at the end of each month to record the interest expense.