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2 years ago

Presented below is information available for Crane Company.

Business

1 answer:

JulsSmile [24]2 years ago

3 0

Answer:

the acid-test ratio is 1.5 times

Explanation:

The computation of the acid-test ratio is as follows:

Acid test Ratio = Quick assets ÷ current liabilities

where,

Quick Assets is

= Cash + short tern investments + Account receivable

= $3,500 + $50,000 + $56,000

= $109,500

And, the current liabilities is $73,000

So, the acid-test ratio is

= $109,500 ÷ $73,000

= 1.5 times

Hence, the acid-test ratio is 1.5 times

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Answer:

D) $56,000

Explanation:

Amy's annual salary + benefits = annual salary + bonuses + 401K employer matched up contributions = $48,500 + $5,000 + $2,500 = $56,000

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and its right on e2020 (edge-nuity)

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3 years ago

Read 2 more answers

Which are the most likely uses of capital invested in a business?

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Answer:

B. hiring workers

D. producing goods

E. distributing goods

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Explanation:

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3 years ago

Sheridan Company applied FIFO to its inventory and got the following results for its ending inventory. Cameras 113 units at a co

ICE Princess25 [194]

Answer:

Ending inventory is $24,917.

Explanation:

Lower-of-cost-or-net realizable value method implies that whichever is lower between the cost per unit and the net realizable value per unit is used to value the ending inventory of an item.

The ending inventory can therefore be determined as follows:

For Cameras:

Units = 113

Cost per unit = $61

net realizable value per unit = $74

We choose cost per unit since it is lower and we have:

Cameras ending inventory = 113 * $61 = $6,893

For Blu-ray players:

Units = 153

Cost per unit = $77

net realizable value per unit = $50

We choose net realizable value per unit since it is lower and we have:

Blu-ray players ending inventory = 153 * $50 = $7,650

For iPods:

Units = 133

Cost per unit = $86

net realizable value per unit = $78

We choose net realizable value per unit since it is lower and we have:

iPods ending inventory = 133 * $78 = $10,374

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Ending inventory = Cameras ending inventory + Blu-ray players ending inventory + iPods ending inventory = $6,893 + $7,650 + $10,374 = $24,917

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2 years ago

The publisher of an economics textbook finds that, when the book's price is lowered from $70 to $60, sales rise from 10,000 to 1

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Answer:

Price elasticity of demand = 2.6

Explanation:

Given:

Old price (P0) = $70

New price (P1) = $60

Old sales (Q0) = 10,000 units

New sales (Q1) = 15,000 units

Computation of Price elasticity of demand(e):

Midpoint method

$e=\frac{\frac{Q1-Q0}{\frac{Q1+Q0}{2} } }{\frac{P1-P0}{\frac{P1+P0}{2} } }$

By putting the value:

$e=\frac{\frac{10,000-15,000}{\frac{10,000+15,000}{2} } }{\frac{60-70}{\frac{60+70}{2} } }\\e=\frac{\frac{-5,000}{\frac{25,000}{2} } }{\frac{-10}{\frac{130}{2} } }\\$

$e=\frac{\frac{-5,000}{12,500} }{\frac{-10}{65} }$

e = 2.6

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3 years ago

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3 years ago