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Oxana [17]
3 years ago
12

You have the following information on Marco's Polo Shop: total liabilities and equity = $210 million; current liabilities = $50

million, inventory = $65 million, and quick ratio = 1.7 times. Using this information, what is the balance for fixed assets on Marco Polo's balance sheet?
Business
1 answer:
KengaRu [80]3 years ago
3 0

Answer:

$60 million

Explanation:

The quick ratio is  the financial ratio of the current assets less inventory to current liabilities. While the accounting equation shows the relationship between the elements of a balance sheet which are assets liabilities and equity.

This may be expressed mathematically as

Assets = Liabilities + Equity

Given that quick ration is 1.7 and current liabilities = $50 million

1.7 = current assets less inventory/$50 million

current assets less inventory = 1.7 * $50 million

= $85 million

The total asset is made up of the current assets less inventory, inventory, fixed assets. Let the balance for fixed assets be y

$85 + $65 + y = $210   (all amounts in millions)

y = $210 - $150   (all amounts in millions)

y = $60   (all amounts in millions)

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kolbaska11 [484]

Answer:

D) all of these answer

Explanation:

for creating chain management we need to have

1) Quick response (QR) -  is refer to that bar code which is used to track information for any products. this type of bar code is mainly used in shopping or buying in any product.

Bar code is a code in which information is store which can be used further in market.

2) vendor managed inventory -  in this information provided by customer to the  vendor about any product.

3) Efficient consumer response -   it is a mutual coordination  between producer, wholesaler to fastened and feasible the service to customer.

8 0
3 years ago
Firms that are ________ recognize that including a strong social orientation in business is a sound strategy that is in the best
kifflom [539]

Answer:

Socially Responsible

Explanation:

4 0
2 years ago
Purchases$111,000 Freight-in 3,100 Sales 185,000 Sales returns 6,000 Purchases returns 4,500 In addition, the controller is awar
ivolga24 [154]

Answer:

Closing Stock = <u>38000 </u>

Explanation:

Net Sales = COGS + Gross Profit

  • <u>Net sales</u> = sales - sales return = 185000 - 6000 = 179000
  • <u>Gross Profit</u> = 60% of sales (as per gross profit ratio)

       = 60% of 179000 = 107400

  • <u>COGS </u>= Opening Stock + Net Purchase + direct expenses - Closing Stock

* <u>Net purchase</u> = Purchase - purchase return = 111000 - 4500 = 106500

*<u>Direct Expense</u> = Freight Inwards = 3100

Putting all values in formula :- Net Sales = COGS + Gross Profit

179000 = (0 + 106500 + 3100 - closing stock) + 107400

179000 = 106500 + 3100 + 107400 - closing stock

179000 = 217000 - closing stock

closing stock = 217000 - 179000

closing stock = 38000

3 0
3 years ago
You need to land in Los Angeles, CA, no later than 11:00 AM to make sure you are on time for an afternoon meeting. Select the ap
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You need to arrive 2 to 3 hours in advance to attend the afternoon meeting, because the meeting is at 11:00 a.m.

Time is precious, of course, and it's all a waste of precious resources that sitting around and trying to imagine when the boss may come.  

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When that person is willing to begin on time meetings, meetings should begin on time.

8 0
3 years ago
When moored to a dock, what should you do before casting off while you warm up the engine? A. Make sure everyone on board is wea
Dahasolnce [82]

Answer:

The answer will be A

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