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3 years ago

Using the following year-end information for WorkFit calculate the acid-test ratio:

Business

1 answer:

ASHA 777 [7]3 years ago

7 0

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

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Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, an

fgiga [73]

Answer:

Explanation: Journal Entries

Debit: Cash. $19.7m

Credit: Unearned Revenue $19.7m

Being sales of gift card for the month of December.

Debit: Unearned Revenue. $12.7m

Credit: Sales. $12.7m

Being actual gift card redeemed for the month if December.

Unearned Revenue a/c has a credit bal of $7m as unredeemed gift card. Its a liability to the company as they have the money but the cards are yet to be redeemed.

4 0

3 years ago

Read 2 more answers

Which argument about keeping the money at home is a counterargument free traders give?

olga_2 [115]

Answer:

The correct answer would be option A, The money that goes abroad will come back again when other nations buy our exports.

Explanation:

Keeping money at home means, keeping money within the country. So the traders who do not wish to trade their products outside the country usually give counterargument on this like money goes abroad as a result of imports, will come back to the country again, as a result of the exports, because other countries buy our products and send us money, which means our money will come back eventually. But they normally forget that to achieve this balance, there should be an accurate balance between the imports and exports of the country.

6 0

3 years ago

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On September 1, Home Store sells a mower (that costs $240) for $540 cash with a one-year warranty that covers parts. Warranty ex

Fudgin [204]

Answer:

Cash $540 (debit)

Cost of Goods Sold $240 (debit)

Sales Revenue $540 (debit)

Inventory $240 (credit)

Warranty Provision $38 (debit)

Direct Materials $38 (credit)

Explanation:

September 1 entries to record the cost and sale of the mower are :

Cash $540 (debit)

Cost of Goods Sold $240 (debit)

Sales Revenue $540 (debit)

Inventory $240 (credit)

The Warranty Expenses is recorded as :

Warranty Expense $32.40 (debit)

Warranty Provision $32.40 (credit)

Warranty = $540 × 6% = $32.40

When the mower is brought i for repairs, the amount of Provision is used as follows :

Warranty Provision $38 (debit)

Direct Materials $38 (credit)

3 0

3 years ago

The Sandhill Chemical Corporation announced that, for the period ending March 31, 2017, it had earned income after taxes of $2,7

Nezavi [6.7K]

Answer:

$527,354.35

Explanation:

revenues - expenses - (amortization and depreciation) = operating revenue

operating revenue - interest expense = net income before taxes

net income before taxes x (1 - tax rate) = net income after taxes

net income before taxes = net income after taxes / (1 - tax rate) = $2,768,916.25 / 0.66 = $4,195,327.65

operating revenue = net income before taxes + interest expense = $4,195,327.65 + $392,168 = $4,587,495.65

amortization and depreciation = operating revenue + expenses - revenues = $4,587,495.65 + $8,000,150 - $13,115,000 = $527,354.35

4 0

3 years ago

"If you'd follow my instructions more carefully and focus on getting the job done, you'd be a lot more successful." These instru

KiRa [710]

Answer:

driver

Explanation:

Drivers in style matrix refers to the individuals who are action-oriented and target-oriented, seek outcomes and survive long. They are proactive, autonomous organised, realistic and reliable. Usually they consider facts as well as data, speaking and responding quickly, leaning forward, pointing and making eye contact with people.

Drivers seldom choose to waste any time on private chat or trivial matters, and may be viewed as dominant, harsh or serious by other types. Drivers might become dictatorial in moments of stress.

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4 years ago