Answer: D. IS Director, Strategic
Explanation:
A director is the highest ranking manager responsible for all strategic planning in an organization
Computer, desk, legal/incorporation fees, roof, they all are already paid expenses that can be used without limitation, at least in the same year, as are legal/incorporation fees, the others such as computers, desk and ceiling are expenses that will not be made again in some time, except for one particular situation.
In the consolidation eliminating entries for 2021, the equipment account (gross cost) is reduced by a net amount of <u>$340,000</u>.
<u>Explanation</u>:
<em><u>Given</u></em>:
Selling cost of equipment = $520,000
Original cost of the equipment = $200,000
Depreciation of asset = $20,000
The net amount of the Equipment = Original cost - Accumulated Depreciation
The net amount = $200,000 - $20,000 = $180,000
The Profit on Sale of the Equipment = Selling cost - The net amount
= $520,000 - $180,000
= $340,000
The equipment account (gross cost) is reduced by a net amount of <u>$340,000
</u>.
Answer:
e). all of the above
<u>Multiple-choices</u>
a). working capital
b). current ratio
c). quick ratio
e). all of the above
Explanation:
Working Capital is the difference between the total current asset and current liabilities. I.e., working capital = total current assents - total current liabilities. It is calculated to assess a company's ability to pay its current liabilities.
The Current Ratio is calculated using the formula below.
current ratio= total current assets / total current liabilities. It measures the company's ability to meet its current liabilities with its current assets.
Acid-test Ratio (Quick Ratio) evaluates a company's ability to meet its current liabilities using cash or cash equivalents only. It measures the ability to repay current debts without having to sell inventory.
Quick ratio or acid test is calculated as follows= (cash + short-term investments + receivables) / total current assets