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kolbaska11 [484]
3 years ago
14

Cash $38,600 Short-term investments 9,000 Accounts receivable 40,000 Inventory 240,000 Prepaid expenses 17,400 Accounts payable

87,200 Other current payables 22,300 Multiple Choice 0.96 and 3.96. 2.99 and 1.25. 3.15 and 0.80. 3.15 and 0.32.
Business
1 answer:
ZanzabumX [31]3 years ago
5 0

Answer:

Current ratio and Acid-test ratio (3.15 and 0.80)

Explanation:

Note: The missing part of the question is <em>"Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio:</em>"

i. Current ratio = Current assets/Current liabilities

Current assets = 38,600 + 9,000 + 40,000 + 240,000 + 17,400

Current assets = $345,000

Current liabilities= 87,200 + 22,300

Current liabilities = $109,500

Current ratio = $345,000 / $109,500

Current ratio = 3.15

ii. Acid-test ratio = {Current assets - (Inventory + Prepaid expenses)}/Current liabilities

Acid-test ratio = 345,000- (240,000  + 17,400 ) / 109,500

Acid-test ratio = 87,600 / 109,500

Acid-test ratio = 0.80

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Answer and Explanation:

The indication of the basic analysis and the debit credit analysis is as follows;

Date                   Basic Analysis                    Debit - Credit Analysis

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                Common stock is increased.         $10,880

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                                                                      Credit Common stock

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Aug. 4            The asset Prepaid Insurance        Debits increase assets;

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              the asset Cash is decreased.               $ 1,500

                                                                              Credits decrease assets;

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Aug. 16        The asset Cash is increased;        Debits increase assets;

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                                                                          Credits increase revenues:

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Aug. 27      The expense Salaries expense    Debits increase expenses:

                  is increased;                                Debit Salaries expense

                 the asset Cash is decreased.       $680.

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3 0
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Lester Moy bought two new Michelin Tires for his car at $99.55 per tire. He was also charged $4.95 per tire for mounting, $2.65
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Answer:

3.88%

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ROA = 0.0602716

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