Answer:
2.24 times
Explanation:
The formula and the computation of the current ratio is shown below:
As we know that
Current ratio = Current assets ÷ current liabilities
where,
Current assets = Prepaid rent + office supplies + account receivable + cash
= $2,500 + $1,300 + $6,600 + $3,500
= $13,900
And, the current liabilities is
= Account payable + salaries payable
= $3,600 + $2,600
= $6,200
So, the current ratio is
= $13,900 ÷ $6,200
= 2.24 times
Answer:
<u>investing activities:</u>
acquisition of land (211,000)
sale of land (101,000)
<u>Operating Activities:</u>
gain on sale: NO EFFECT if direct method is used
adjusting the net income if the indirect method is used.
Explanation:
The cash disbursmenets and cash proceeds fro mthe purhcase and sale of land respectevely will appear as investing activities.
The gain on the sale will adjust the net incoem if the company used indirect method to determinatethe cash from operating activities.
As is a non-monetary term It will be removed.
If the company used the direct method there will be no mention to the gain on sale.
Based on the useful life and the appraised age of the house, the effective age is <u>3 years.</u>
<h3>What is the effective age?</h3>
- It is the age of a structure based on its physical condition and upkeep.
- It is found by subtracting the remaining economic life from the economic life of the structure.
As a result of the physical condition and upkeep of the property, the appraiser estimates it to be equivalent to a 3 year old home. This is therefore the effective age.
Find out more on appraisals at brainly.com/question/15032807.
Help me with my question posted and I’ll help with yours
<span>The answer is d. quantity demanded equals quantity supplied</span>
