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3 years ago

Refer to the Zumba Corporation data above. Compute the current ratio: Then compute the quick ratio

Business

1 answer:

charle [14.2K]3 years ago

8 0

Answer:

B) 1.20

Explanation:

To find the current ratio we will divide current assets with current liabilities and find the quick ratio we just need to deduct inventory and prepaid expense from current assets in the same current ratio formula.

Data

Current assets = $7,900

Prepaid rent = $898

Inventory = $2,200

Current liabilities = $4,000

Solution

Current ratio = current asset/curremy liability

Current ratio = $7900/$4000

Current ratio = 1.975

Quick ratio = current asset - Inventories -prepaid rent / current liability

Quick ratio=$7,900-$2,200-$898/$4,000

Quick ratio = 1.20

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Miguel is mixing up a salad dressing. Regardless of the number of servings, the recipe requires that 5/8 of the finished dressin

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Answer:

a) 15/29

Explanation:

The fraction in which the olive oil must be added = 5 / 8

Vinegar's fraction = 1 / 4

The remainder is = $1-\frac {5}{8}-\frac {1}{4}$ = 1 / 8

Salt, pepper and sugar are mixed evenly. SO,

Salt's fraction = Pepper's fraction = Sugar's fraction = 1 / 24

Thus, New recipe contains:

Olive oil's fraction = 5 / 8

He doubles the vinegar, So, Vinegar's fraction = 1 / 2

He missed sugar, so left ones are salt and pepper which are:

Salt's fraction = Pepper's fraction = 1 / 24

Total = (5 / 8) + (1 / 2) + (1 / 24) + (1 / 24) = 29 / 24

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3 years ago

Define phenotype and genotype

ehidna [41]

Answer:

The genotype is a set of genes in DNA responsible for unique trait or characteristics while the phenotype is the physical appearance or characteristic of an organism.

Explanation:

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3 years ago

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Isaac Inc. began operations in January 2021. For some property sales, Isaac recognizes income in the period of sale for financia

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Answer:

$135million

Explanation:

The Deferred tax liability which isaac would report in its year-end 2021 balance sheet = Temporary difference for installment sales to be reversed in 2022, 2023, 2024 and 2025 * Tax rate

= ($120m + $120m + $150m + $150m) * 25%

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3 years ago

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The movement of parts from one area of the factory to another is considered a value-added activity whereas the storage of raw ma

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Answer:

TRUE

Explanation:

Value can be defined as the thing for which an customer is willing to pay the price. It is the activity on any shop floor or business for delivering the product or service to the customer for which the customer is ready to pay the price for it.

If the customers does not wish to pay the price, then there is no value.

So inside a factory, in a shop floor, moving a part from one place to another for making a product that the customer is willing to pay is a value added activity. But excess movement or transportation of product does not any value to it, it is then considered as a waste.

Also storing of products is a non value activity as storing a product will not help the customer in any way and a customer will not pay for a product when it is stored and is of no use to the customer.

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3 years ago

On December 31, 2019, the Income Statement section of the worksheet for Capeletti Distributors contained the following informati

Yuliya22 [10]

Explanation:

The closing journal entries are as follows

1. Sales $249,500

Interest Income $120

Purchases Returns and Allowances $1,500

Purchases Discounts $1,430

To Income Summary $252,550

(Being revenue account closed)

2. Income summary A/c Dr $227,280

To Sales Returns and Allowances $3,400

To Sales Discounts $2,400

To Purchases $133,400

To Freight In $1,700

To Rent Expense $8,000

To Utilities Expense $2,830

To Telephone Expense $1,440

To Salaries Expense $65,100

To Payroll Taxes Expense $5,170

To Supplies Expense $1,600

To Depreciation Expense $2,000

To Interest Expense $240

(Being expenses accounts are closed)

3. Income summary A/c Dr $28,570

To John Capeletti, Capital $28,570

(Being the net income is closed)

The calculation is shown below:

= $40,900 + $252,550 - $227,280 - $37,600

= $28,570

4. John Capeletti, Capital $25,700

To John Capeletti, Drawings $25,700

(Being drawing account is closed)

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3 years ago