Val-tek has current assets of $1,700,000 and current liabilities of $900,000. If they pay $100,000 owed to a creditor, what will their new current ratio be 2:1*.
*{($1,700,000 - $100,000) ÷ ($900,000 - $100,000) = $2:1}
<h3>What are liabilities?</h3>
Legal responsibilities or debt owing to another person or business are known as liabilities. In other words, liabilities are future economic advantages that an entity must forgo for other entities as a result of previous transactions or occurrences.
<h3>What are assets?</h3>
An asset is any resource that a company or other economic organization owns or has control over. It is everything that has the potential to provide gains in terms of the economy. Assets are ownership worth that may be exchanged for cash.
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Answer: Wilma must include the $1,150 of interest in her income this year
Explanation: Wilma must include the $1,150 of interest in her income this year because the interest on the certificate, was credited to her account this year and as that, it is a part of her income for the year.
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Your actual rate of return is -1% if you have a savings account that offers a nominal interest rate of 1% but inflation is now at roughly 2%.
<h3>How is real interest rate determined from nominal and projected rates?</h3>
The difference between the nominal interest rate and the inflation rate is used to calculate the real interest rate for an investment: Real interest rate is calculated as nominal interest rate minus inflation (expected or actual).
<h3>We determine the real interest rate for what reasons?</h3>
Lenders want to lend money at interest rates that fluctuate with the current market interest rate because doing so helps them to avoid the danger of lending at an extremely low real interest rate. This preference is driven by the idea of the real interest rate.
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Answer:
Purchases= 1,280 million
Explanation:
Giving the following information:
the company reported Cost of Goods Sold of $880 million, ending inventory for the third quarter of $1,900 million, and ending inventory for the previous quarter of $1,500 million.
Purchases= cost of goods sold - Beginning inventory + ending inventory
Purchases= 880 - 1500 + 1900= 1,280 million