HELP ASAP PLS!!! Complete the following sentence.

Use the following data to answer QuestionAccounts payable $30,000Accounts receivable 65,000Accrued liabilities 7,000Cash 20,000I

ra1l [238]

Answer:

Current (quick) assets: $195,000

Working capital: $138,000

Explanation:

We can find the correct answer by laying out the information appropriately:

Current Assets:

Accounts Receivable: $65,000

Cash: $20,000

Inventory: $72,000

Marketable securities: $36,000

Prepaid expenses: $2,000

Total: $195,000

Current Liabilities:

Accounts payable: $30,000

Accrued liabilities: $7,000

Notes payable (short-term): $20,000

Total: $57,000

Working capital = current assets - current liabilities

Working capital = $195,000 - $57,000

= $138,000

The following accounts mentioned in the question are non-current assets: intangible assets, long-term investments, and property, plant and equipment.

And long-term liabilities, as the name implies, is classified as a non-current liability.

3 0

3 years ago

The price of coffee rose sharply last month, while the quantity sold remained the same. five people suggest various explanations

Virty [35]

The price of coffee rose sharply last month, while the quantity sold remained the same can be a result of several situations and therefor there are several explanations that are possible:
Demand increased, but supply was perfectly inelastic.
Demand increased, but supply decreased at the same time.
Supply decreased, but demand was perfectly inelastic.

5 0

3 years ago

Read 2 more answers

Stefanie opens a checking account at her neighborhood bank and writes a check on her account. The legal relationship between Ste

Bingel [31]

Answer:

c. An agency relationship

Explanation:

An agency relationship is a mutual relationship, in which one person (i.e the principle ) gives a permission to an agent so as to act on their behalf.

In this relationship the agent must consent to the instructions of the person i.e the principle.

Here in the question, Stefanie acting as Principal who has directed the agent (which is the bank in the given case ) to execute a task.

3 0

3 years ago

Ralph Young was a commercial tour boat operator on the northern coast of Kauai, Hawaii. He was licensed by the state of Hawaii t

Y_Kistochka [10]

Answer:

The correct answer is option (a) The court probably found that the state law was unconstitutional under the supremacy cause.

Explanation:

Solution

From the given questions it states that, What would be the court's most likely response to Ralph's lawsuit.

The court's decision response would be that, I that when the situation arises or occurs in that case, where there is a conflict which arises between federal and state law then in that case federal law must be applied.

7 0

3 years ago

Required information The Foundational 15 [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the questions

Vsevolod [243]

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

Variable costing income statement:

Total unitary variable production cost= (24 + 16 + 2 + 3)= $45

Sales= 73*51,000= 3,723,000

Total variable cost= 51,000*45= (2,295,000)

Contribution margin= 1,428,000

Fixed manufacturing overhead= (784,000)

Fixed selling and administrative expense= (672,000)

Net operating income= (28,000)

Absorption costing income statement:

Unitary production cost= (24 + 16 + 2) + (784,000/56,000)

Unitary production cost= $56

Sales= 73*51,000= 3,723,000

COGS= 51,000*56= (2,856,000)

Gross profit= 867,000

Total selling and administrative= 672,000 + 3*51,000= (825,000)

Net operating income= 42,000

The difference between both methods is the fixed manufacturing overhead allocated in ending inventory.

6 0

3 years ago