Answer:
true: credit card history
Answer:
The current ratio is 1.18 times
Explanation:
Current Ratio: The current ratio is that ratio which shows a relationship between the current assets and the current liabilities
The computation of the current ratio is shown below
Current ratio = Total Current assets ÷ total current liabilities
where,
Total current assets = Cash + short-term investments + net accounts receivable + merchandise inventory
= $43,500 + $27,000 + $102,000 + $125,000
= $297,500
And, the total current liabilities is $251,000
Now put these values to the above formula
So, the ratio would equal to
= $297,500 ÷ $251,000
= 1.18 times
The long term note payable is not a current liabilities,hence it is not considered in the computation part.
Answer:
(a) update depreciation for 2018
Debit ; Depreciation $10,800
Credit Accumulated Depreciation $10,800
(b) record the sale
Debit : Cash $12,960
Debit : Accumulated Depreciation $62,100
Credit : Profit and Loss $10,260
Credit : Equipment at Cost $64,800
Explanation:
(a) update depreciation for 2018
Recognize deprecation
(b) record the sale
Recognize proceeds from sale and profit or loss from sale
Answer:
net incremental cost = $ 2.2
Explanation:
Data provided:
Direct material cost = $ 10 per unit
Direct labor cost = $ 24 per unit
Overhead cost = $ 16 per unit
thus,
the total cost of the product = $ 10 + $ 24 + $ 16 = $ 50
Now,
if bought from outside cost = $ 45
Overhead cost if bought from outside = 45% of the overhead cost
= 0.45 × $ 16 = $ 7.2
hence, the total cost if bought from outside = $ 45 + $ 7.2 = $ 52.2
since, the cost of product if bought from outside side is greater than the product is produced by own
therefore, the net incremental cost = $ 52.2 - $ 50 = $ 2.2
Answer:
$950
Explanation:
Calculation to determine what The maturity value of the note is:
Maturity value of the note=$19000*10%*180/360
Maturity value of the note=$950
Therefore The maturity value of the note is: $950
