Answer:
Option (c) $384.25
Explanation:
Data provided in the question:
Date on which house is sold = June 15
Annual taxes in the amount = $850
Now,
Tax per day = [ Annual taxes ] ÷ Total number of days in a year ]
= $850 ÷ 365
= $2.3288 per day
Therefore,
The amount seller owe the buyer
= Tax per day × Number of days seller owned house
= $2.3288 × 165
= $384.25
Hence,
Option (c) $384.25
Answer:
2015 - Quick ratio = 0.52
2016 - Quick ratio = 0.52
Explanation:
- The quick ratio is a measure of how well a company can meet its short-term financial liabilities.
- It is also known as the acid-test ratio.
- It can be calculated as follows: (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities.
- The simplest formula is
<u>Quick ratio Formula</u>
(Current assets - stock) ÷ current liabilities - this will be used in the calculations.
<u>Current assets: </u>
Cash and other assets that are expected to be converted to cash within a year.
<u>Current liabilities:</u> Current liabilities are a company's short-term financial obligations that are due within one year or within a normal operating cycle.
<u>Workings:</u>
<u>2015 - Quick ratio:</u>
Quick ratio = (Current assets - stock) ÷ current liabilities
Quick ratio = ($2,400 - $800) ÷ $3,050
Quick ratio = 0.52 (answer)
<u>2016 - Quick ratio:</u>
Quick ratio = (Current assets - stock) ÷ current liabilities
Quick ratio = ($2,300 - $650) ÷ $3,150
Quick ratio = 0.52 (answer)
Answer:
A, Has not audited or reviewed the accompanying financial statements.
Explanation:
It is important that an accountant states that the financial statements of a compilation hasn't been reviewed so as to avoid a situation wherein the financial statement is not in accordance with accounting principles of the country, e.g United states.
An accountant is meant to just prepare financial statements for an organization without going against the accounting principles while management is responsible for presentaion of the financial statements.
Cheers. i hope this helps
Answer:
b. A cost that differs across decision alternatives.
Explanation:
When managers make business decisions, some costs are incurred when such decisions are made. They are called relevant cost. The main purpose of relevant cost is to avoid duplication of data that are not necessary, which could further make business decisions complicated.
Example of relevant cost is when a business or an organization checks whether or not to sell a business unit. The cost incurred in such decision is called relevant cost.
the correct answer for apex is superordinate goals