Answer:
I dont think so no loooool
Answer:
0.97
Explanation:
The computation of the acid-test ratio is given below:
= Quick assets ÷ current liabilities
= (cash + short term investment + account receivable + supplies) ÷ (accounts payable + wages payable)
= ($58,110 + $14,000 + $58,000 + $5,600) ÷ ($108,000 + $31,900)
= $135,710 ÷ $139,900
= 0.97
Answer:
Answer not in the given option, please recheck for error.
depreciation in 2021 would be= $82,000
Explanation:
Depreciation incurrred in 2019:
Using straight line depreciation = original cost - salvage value / useful life
=(400,000-40,000)/10
=$36,000
The depreciation from January 1, 2019 to December 31st 2020 = 2 years
therefore depreciation for the two years = $36,000 x 2 = $72,000
Book value recorded early 2021= Original cost - the A ccumulated Deprecaition
= 400,000- 72,000= $328,000
But Remaining useful life =4 years with no salvge value
Therefore depreciation in 2021 would be = Cost - salvage value / useful life
($328,000 - 0)/4
= $82,000
Answer:
$33,000
Explanation:
The computation of the amount realized by X corporation is given below:
= Fair market value to the exchange + cash received
= $25,000 + $8,000
= $33,000
For determining the amount realized by X corporation we simply added the above two items so that the correct amount could come
