Answer:
0.74
Explanation:
Jones corporation reported a current assets of $196,000
The current liabilities is $138,500
The current assets consists of $61,000 cash , account receivable= $42,100, inventory= $92,900
Therefore the quick ratio can be calculated as follows
= cash + account receivables
= $61,000 + $42,100
= $103,100
$103,100/$138,500
= 0.74
Hence the acid test(quick ) ratio is 0.74
Answer:
The transaction in the operating and investing activities sections of its statement of cash flows is a loss of $400,000 and the sale of equipment $400,000
Explanation:
Operating Activity: It includes all those activities which are related to the changes in the working capital that mean increase or decrease in currents assets and current liabilities. Moreover, it also includes loss/ gain on sale of fixed assets and depreciation, etc.
Investing activity: It records those transactions which include sale and purchase of fixed assets.
So, by going through the meaning of operating activity and investing activity we get to know that the operating activity record a loss of $100,000 which comes from Carrying value - sales value which is added to the net income.
And, the investing records sale price of equipment which is $400,000
Hence, the transaction in the operating and investing activities sections of its statement of cash flows is a loss of $400,000 and the sale of equipment $400,000
Answer:
$2,250
Explanation:
Given;
Cost of machine = $100,000
Residual value = $10,000
Useful life = 10 years
Annual depreciation = (Cost - Residual value ) ÷ useful life
= ($100,000 - $10,000 ) ÷ 10
= $90,000 ÷ 10
= $9,000 per year
Duration from October 1, 2018 to December 31, 2018 in year = 
years
= 0.25 year
therefore,
Depreciation expense for the year ended December 31, 2018
= Annual depreciation × Duration
= $9,000 × 0.25
= $2,250
Answer no 1
Bringing down the estimate for far fetched accounts makes the benefit bigger by paying off Bad Debt Expense and makes the Balance Sheet look better by exaggerating Assets. Since the contra-resource Allowance for Doubtful Accounts would be downplayed.
Answer no 2
This activity of change the stipends for far fetched accounts isn't inside the rights and zone of control of a director and is a moral infringement. No chief ought to have the option to transform anything inside the bookkeeping capacity. A supervisor ought to deal with the business, not the accounting for that business.
