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otez555 [7]
2 years ago
14

In its most recent annual report, Appalachian Beverages reported current assets of $39,900 and a current ratio of 1.90. Assume t

hat the following transactions were completed: (1) purchased merchandise for $5,100 on account and (2) purchased a delivery truck for $10,000, paying $2,000 cash and signing a two-year promissory note for the balance.
Required:
Compute the updated current ratio.
Business
1 answer:
iVinArrow [24]2 years ago
6 0

Answer:

Appalachian Beverages

The Updated current ratio is:

= 1.65

Explanation:

a) Data and Calculations:

Current assets = $39,900

Current ratio = 1.90

Current liabilities = $21,000 ($39,900/1.90)

Current Assets:

Beginning balance = $39,900

Inventory                      $5,100

Cash                           ($2,000)

Ending balance =      $43,000

Current Liabilities:

Beginning balance = $21,000

Accounts Payable       $5,100

Ending balance =      $26,100

Analysis of Transactions:

1. Inventory $5,100 Accounts Payable $5,100

2. Delivery Truck $10,000 Cash $2,000 Two-year Note Payable $8,000

Updated current ratio = Current assets/Current liabilities

= $43,000/$26,100

= 1.65

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Answer:

1) The fixed overhead production-volume variance is $14400 favourable.

2) The fixed overhead spending variance is $9000 unfavourable.

Explanation:

1)

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= 144000/30000

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Therefore, The fixed overhead production-volume variance is $14400 favourable.

2)

fixed overhead spending variance

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Therefore, The fixed overhead spending variance is $9000 unfavourable.

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bagirrra123 [75]
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2 years ago
A worker received a $10,000 bonus and decided to split it among three different accounts. He placed part in a savings account pa
kotykmax [81]

Answer:

so savings = $2200

bonds = $4400

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Explanation:

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solution

we consider amount invested for 4.5 % is = x

and hen his investment in bonds is = 2x  for 5%

and rest is  10000- x  - 2x

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