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3 years ago

Which of the following is a question you should ask your boss regarding individual performance evaluations?

1 answer:

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One important question that I would ask my boss is if I did better now than I did when I first started? How a company keeps an employee depends on how well that person performs or gets along with other employees. This can be determined by how well the employee has improved in meeting deadlines, quality of work and being a team player. If there are signs of improvements, then that employee shows signs of commitment to the job.

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Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2019 Dec. 31, 2018 Current ass

Y_Kistochka [10]

Answer:

1. 1.5 Times

2.$100,000

3.0.775 Times

4.$75,000

5.$100,000

Explanation:

Liquidity ratios can be found by just simply putting the given values in their appropriate formulas. All you have to memorize is the simple formulas

1.Current Ratio

CURRENT RATIO = CURRENT ASSETS/CURRENT LIABILITIES

CURRENT RATIO = $300,000/$200,000

CURRENT RATIO = 1.5 Times

2. Working Capital

WORKING CAPITAL= CURRENT ASSETS- CURRENT LIABILITIES

WORKING CAPITAL= $300,000 - $200,000

WORKING CAPITAL= $100,000

3. Acid ratio

ACID RATIO = CURRENT ASSETS - INVENTORY - PREPAID EXPENSES/CURRENT LIABILITIES

ACID RATIO = ($300,000 - $110,000 - $35,000)/$200,000

ACID RATIO = 0.775 Times

4. Receivable turnover

RECEIVABLE TURNOVER = CREDIT SALES/AVERAGE RECEIVABLE

RECEIVABLE TURNOVER = $750,000/$75,000

RECEIVABLE TURNOVER = 10 Times

<u>Working</u>

AVERAGE RECEIVABLE = (Opening receivables+Closing receivables)/2

AVERAGE RECEIVABLE = ($55,000 + $95,000) / 2 = $75,000

5. Inventory Turnover

INVENTORY TURNOVER = COST OF GOODS SOLD / AVERAGE INVENTORY

INVENTORY TURNOVER = $400,000 / $100,000

INVENTORY TURNOVER = 4 Times

<u>Working</u>

AVERAGE INVENTORY = (Opening inventories+Closing inventories)/2

AVERAGE INVENTORY = (110,000 + 90,000)/2

AVERAGE INVENTORY = $100,000

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3 years ago

First, find if a country's RGDP grows on average at 3% per year, how long will it take for this country to double its RGDP. If,

sasho [114]

Answer:

At the growth rate of 3% per year

Number of years taken to double the GDP = 23.33 years

The the GDP will double ( 23.33 - 20 ) 3.33 years earlier at 3.5% growth rate

Explanation:

According to the rule of 70

Number of years taken to double the GDP = 70 ÷ [ Growth rate ]

Thus,

At the growth rate of 3% per year

Number of years taken to double the GDP = 70 ÷ 3

= 23.33 years

Further

if the growth rate is 3.5% per year

Number of years taken to double the GDP = 70 ÷ 3.5

= 20 years

Hence,

The the GDP will double ( 23.33 - 20 ) 3.33 years earlier at 3.5% growth rate

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3 years ago

Jasmine started a new business in the current year. She incurred $18,000 of start-up costs. How much of the start-up costs can b

liq [111]

Answer:

$5,000

Explanation:

According to the Internal Revenue Service, the amount of deduction for startup costs would be limited to $5,000 if the startup costs are $50,000 or less

However, if the start-up costs were more than $50,000, the deduction would be decreased by the dollar amount.

Since in the given scenario, the $18,000 is the startup cost so she is eligible for the deduction of $5,000

5 0

4 years ago

Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a year-end balance of $220,000. Credi

Dovator [93]

Answer:

3.6

Explanation:

The receivables turnover for the year is calculated as;

= Net sales(credit sales) ÷ Average accounts receivables

Average account receivables

= ($200,000 + $220,000) ÷ 2

= $210,000

Therefore, Receivables turnover

= $750,000 ÷ $210,000

= 3.6

6 0

3 years ago

Lake Incorporated purchased all of the outstanding stock of Huron Company paying $950,000 cash. Lake assumed all of the liabilit

liraira [26]

Answer:

d. $250,000.

Explanation:

In order to calculate the expense of the goodwill, we must first calculate the net asset's fair value shown below:

The fair value of net asset = The fair market value of total assets - the fair market value of liabilities

= $125,000 + $750,000 - $175,000

= $700,000

And, the purchase value of all outstanding stocks is $950,000

So, the goodwill would be

= $950,000 - $700,000

= $250,000

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4 years ago