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solong [7]
3 years ago
9

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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A bank has $400 in checkable deposits, $800 in savings deposits, $700 in time deposits, $900 in loans to businesses, $300 in out
sergij07 [2.7K]

Answer: $400

Explanation:

M1 money supply simply refers to the monies which are liquid like the checkable deposits, traveler's checks, and the coins and currencies that are in circulation.

Therefore, based on the information given in the question, the bank's deposits that are part of M1 will be the $400 in checkable deposit.

3 0
3 years ago
Prime Corporation's building was destroyed by a tornado. The fair market value of the building at the time of the tornado was $4
Sergio [31]

Answer:

D) $150,000

Explanation:

Insurance proceeds that are not reinvested in replacing damaged property are taxed. Apparently Prime corporation didn't reinvest into replacing the property, so this transaction should be taxed as a property sale. Prime received $400,000 for the building with a $350,000 basis which results in a net gain = $50,000.

The other $100,000 were given as replacement income and therefore should be taxed as such.

So the total taxable amount = $50,000 + $100,000 = $150,000

4 0
3 years ago
What is the most efficient level of output and correponding marketer-hours in the short-run?
algol [13]

The most efficient level of output and corresponding marketer hours in the short-run is capital for a time period of fewer than four-six months.

The short run is an idea that within a certain time period, at least one input is fixed while others remain variable. In the short run, firms face both variable and fixed costs, which means that wages, output, and prices do not have full freedom to reach a new equilibrium.

In the short run one factor of production, for instance capital is fixed. This is a time period of fewer than four-six months. In the short run, the firm should increase output as long as marginal revenue exceeds marginal cost, and reduce output if marginal revenue is less than marginal cost.

Hence, in the short run, a firm decides how much output to produce in the current facility.

To learn more about short-run here:

brainly.com/question/27240264

#SPJ4

7 0
2 years ago
________ leaders inspire followers to transcend their self-interests for the good of the organization and can have an extraordin
dsp73

The answer to this question is Transformational leaders.

<span>Transformational leaders are leaders who inspire their subordinates / followers by being a role model in order for the members or followers to enhance their performance. Transformational leaders increase the morale of the members by creating a vision for them to be guided and inspire the members to do their best and be motivated always.</span>

8 0
3 years ago
A promissory note
Sloan [31]

Answer: c. may be used to settle an accounts receivable.

Explanation: A promissory note is defined as a financial instrument that contains a written promise by the note issuer or maker to pay the note payee a definite sum of money at a specific future date or on demand and  may be used to settle an accounts receivable (the balance of money due to a firm for goods or services delivered or used but not yet paid for by customers and are listed on the balance sheet as a current asset). They are commonly used in businesses as a form of short term financing as they can be exchanged for cash at a future time when account receivables have been collected.

8 0
3 years ago
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