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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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Suppose autos cost consumers $30,000 and trucks cost consumers $15,000. What contribution does the production of 200 autos and 2

alexgriva [62]

Answer:

the contribution made to the production of 200 autos and 200 trucks is $9,000,000

Explanation:

The computation of the contribution made to the production of 200 autos and 200 trucks is shown below

Contribution to GDP is

= $30,000 × 200 + $15,000 × 200

= $6,000,000 + $3,000,000

= $9,000,000

Hence, the contribution made to the production of 200 autos and 200 trucks is $9,000,000

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3 years ago

Natraj Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department

bazaltina [42]

Answer: $41,520

Explanation;

Equivalent units of production are used when some goods have not been fully processed but costs need to be attached to them. The incomplete ones will be converted to complete goods depending on how far along the production process they are.

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3 years ago

Cross Company reported the following results for the year ended December 31, 2018, its first year of operations: 2018 Income (pe

Jlenok [28]

Answer:

$420,000 deferred tax asset

Explanation:

Deferred-tax assets are asset that occurred when company's or organization record income tax is less than the one which is been paid to the tax authority.

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Therefore

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Cross record should record $420,000 as a net deferred tax asset or liability for the year ended December 31, 2018

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3 years ago

Which of the following best describes a trial balance?

Lubov Fominskaja [6]

Answer:

Explanation:

In the accounting process extracting a trial balance is the final step.

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