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KIM [24]
3 years ago
9

A partial list of Waterways' accounts and their balances for the month of November 2016 follows:

Business
1 answer:
lesya [120]3 years ago
4 0

Answer:

Total current assets = $697,750

Explanation:

The partial balance sheet is as follows:

Waterways Corporation

Balance Sheet (Partial)

For the month of November 2016

<u>Details                                                                $                         $          </u>

<u>Current Assets</u>

Cash                                                           260,000

Accounts Receivable                                 275,000

Finished Goods Inventory, November       68,800

Raw Materials Inventory, November          52,700

Prepaid Expenses                                    <u>    41,250  </u>

Total current assets                                                              697,750

Note:

Cash is the most liquid of assets.

Accounts receivable which should be collected within 30 to 60 days are less liquid than cash, but more liquid than inventory.

Finished Goods Inventory which is expected to be sold and converted to cash within one year, and Raw Materials Inventory which is expected to be converted to finished good within one year are more liquid than Prepaid expense.

Therefore, the least liquid among current assets’ item above is the Prepaid Expense as it is cash paid for services not yet received..

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From the information given, firstly, we calculate the return on equity. This will be:

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We then calculate the profit margin. This will be:

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In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decr
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In the second half of 2019, automobile sales in the United States were lower than they were in the second half of 2018. The decrease in auto sales impacts GDP because new automobiles are counted as <u>consumption </u>when purchased by households and <u>investment</u> when purchased by businesses.

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2 years ago
The full process to create a product or service is called a ___?
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Applying Closing Procedures Assume you are in the process of closing procedures for Echo Corporation. You have already closed al
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Answer:

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