1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
spin [16.1K]
3 years ago
13

Selected financial data regarding current assets and current liabilities for Queen's Line, a competitor in the cruise line indus

try, is provided: (Enter your answers in millions, not in dollars.)
($ in ,millions)
Current assets:
Cash and cash equivalents $307
Current investments 82
Net receivables 218
Inventory 122
Other current assets 138
Total current assets $867
Current liabilities:
Accounts payable $1,165
Short-term debt 709
Other current liabilities 904
Total current liabilities $2,778

Required:
Calculate the current ratio and the acid-test ratio for Queen's Line.
Business
1 answer:
Alika [10]3 years ago
4 0

Answer:

Current ratio = 0.32 times

Acid-test ratio = 0.27 times

Explanation:

The computation is shown below:

For current ratio

= Total Current assets ÷ total current liabilities

= $867÷ $2,778

= 0.32 times

For acid-test ratio

= Quick assets ÷ total current liabilities

where,

Quick assets = Total current assets - inventory

                      = $867 - $122

                      = $745

And the total current liabilities is $2,778

So, the acid-test ratio would be

= $745 ÷ $2,778

= 0.27 times

You might be interested in
A recent Samsung Galaxy ad highlighted the advantages of its smartphone relative to Apple’s iPhone. What type of product adverti
siniylev [52]

Answer:

comparative

Explanation:

7 0
2 years ago
Let's say that a country produces the following products:
Y_Kistochka [10]
Ahhaha jbbsjsnakn jain sus
6 0
3 years ago
If the individual subsidiary ledger accounts contained the following data:__________.
NNADVOKAT [17]

Answer:

A/R, $875; A/P, $575

Explanation:

The accounts receivable account is the account that records the amount from clients/customers. It is an asset account. The account payable is a liability account used to record amounts payable to vendors.

As such,

Accounts receivable (A/R) control account balance = $750 + $125  = $875

Accounts payable (A/P) control account balance = $200 + $375 = $575

7 0
3 years ago
Samantha Jones had the following itemized deductions. Donations to church and other charities $ 2,150 Medical and dental expense
vlabodo [156]

Answer:

Samantha should use the standard deduction.

Explanation:

Samantha's total itemized deductions include:

  • donations to church and other charities $2,150
  • medical and dental expenses (exceeding 10%) $1,270
  • State income tax $960
  • Job related expenses (exceeding 2%) $1,485
  • total $5,865

Samantha's standard deduction = $6,350, since it is higher than her itemized deductions, then she should use the standard deduction.

3 0
3 years ago
skills allow a manager to be able to take a problem apart and determine where the snag is, then determine the best way to implem
steposvetlana [31]
<h2>Analytical skill allow a manager to be able to make a problem apart and determine where the snag is.</h2>

Explanation:

Decision making:

Though it looks like closely matches, this skill enable people to take decision on various choices by analyzing its pros and cons. So this option goes invalid for the given situation.

Analytical:

This is the right choice. Analytical ability allows the person to analyze the problem, find the root cause and suggest possible solution.

Conceptual & Technical skill: These both are related to Technical aspect. But the given situation is based on the soft skill aspect.

3 0
3 years ago
Other questions:
  • Economists study decisions made at the margin by consumers by studying?
    12·2 answers
  • Macro Company owns five machines that it uses in its manufacturing operations. Each of the machines was purchased four years ago
    13·1 answer
  • Costs that are incurred as part of the manufacturing process but are not clearly associated with specific units of product or ba
    6·1 answer
  • A recession which causes people to use their savings to pay for day to day expenses would most likely
    15·1 answer
  • A focused low-cost strategy ...A) cannot be sustained over time unless the focuser is aggressive in entering other segments wher
    7·1 answer
  • Data from the National Football League (NFL) from a recent season reported the number of yards gained by each of the league's wi
    10·1 answer
  • Did the chicken actually cross the road and get to the other side?
    7·2 answers
  • A credit card had an Apr of 12.87% all of last year and compounded interest daily. What was the credit card's effective interest
    13·1 answer
  • State five methods of interview​
    13·2 answers
  • nternal control is defined as the procedures and processes used by a company to safeguard its assets. process information accura
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!