Answer:
Cost of goods will be $4670325
Explanation:
We have given current liabilities = $407000
A quick ratio = 1.90
Current ratio is 3.40 and inventory turnover = 4.50
We know that current ratio is the ratio of current assets and current liabilities
So 
So current assets = $1383800
Now quick ratio is equal to = 
So 
Inventory = $1037850
Inventory turnover is given 4.5
So 
So cost of goods sold = 4.5×$1037850 = $4670325
Answer:
SELF REGULATION
Explanation:
Each year the US Army shoots an estimated 200 million rounds of lead bullets at from ... an estimated 200 million rounds of lead bullets at target practice areas across the United States. Pentagon officials, in response to environmentalists' concerns over lead poisoning in the soil, have invested over $12 million to develop
Answer:
Customize reports
Review recurring transactions
Set up and implement an online bill pay service
Explanation:
Considering the situation described above, after converting to QuickBooks Online, the 3 setup and customization steps that are appropriate for this client are the following:
1. Customize reports: this includes forms and reports and, if possible to memorize reports.
2. Review recurring transactions: this is to restore desktop QuickBooks memorized transactions.
3. Set up and implement an online bill pay service: this is done either through Intuit Online Payroll or QBOP.
Answer:
Goodwill is:
The excess of the fair value of a business over the fair value of all net identifiable assets.
Explanation:
This definition of Goodwill implies that it is usually acquired by the purchaser of another business, when it pays a price higher than the fair market value of the other company's net assets. It is not a physical asset like property, plant, and equipment, but intangible.
Goodwill arises from a company's good reputation, loyal customers or clientele base, brand identity, talented workforce, and proprietary technology.
Goodwill does not have a definite life and under US GAAP and IFRS standards. Therefore, it is not amortized like other intangible assets but is evaluated for impairment every year.
