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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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According to the map, which continent has the most countries with a low GDP level? Which two countries have the highest GDP leve

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Guessing it is the world map since there is no map on here,
USA and China for the highest GDP
South Sudan has the lowest GDP

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2 years ago

Read 2 more answers

Palmona Co. establishes a $140 petty cash fund on January 1. On January 8, the fund shows $29 in cash along with receipts for th

Korolek [52]

Answer:

Entries are posted

Explanation:

We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.

January 1 (Cash fund being recorded in petty cash)

Account Debit Credit

Petty Cash $140

Cash $140

January 8

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transportation-in $14

delivery expenses, $16

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3 years ago

For the past year, Kayla, Inc., has sales of $44,432, interest expense of $3,074, cost of goods sold of $14,909, selling and adm

ryzh [129]

Answer:

$14,439.8

Explanation:

The computation of operating cash flow is shown below:-

The operating cash flow is shown below:

= EBIT + Depreciation - Income tax expense

where,

EBIT = Sales - cost of good sold - depreciation expense - selling and administrative expense

= $44,432 - $14,909 - $4,965 - $10,816

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Tax expenses = ( Earnings before interest and tax - interest expenses ) × tax rate of 40%

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= $14,439.8

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2 years ago

Using multiple cost drivers on a flexible budget report will generally ______. Multiple choice question.

lutik1710 [3]

Using multiple cost drivers on a flexible budget report will generally make the budget accurate and effective.

<h3>What is flexible budget performance report?</h3>

A flexible budget performance report serves as one that make comparison between actual revenues and costs for a period.

There are some method used in estimating this report, but multiple cost drivers is an effective method to get an accurate report.

Learn more about flexible budget performance report at:

brainly.com/question/27201970

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1 year ago

On January 2, 2020, Howdy Doody Corporation purchased 18% of Ranger Corporation's common stock for $52,000. Based on its ownersh

Arlecino [84]

Answer:

The Total amount is shown in the income statement $34,240

Explanation:

The computation of the amount that should be presented in the 2020 income statement is shown below:

Dividend collected by Howdy Doody corporation (18% of $68,000) $12,240

rise in Fair value of Stock credited to the income statement ($74,000 - $52,000) $22,000

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2 years ago