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algol13
2 years ago
6

The following items are reported on a company's balance sheet: Cash $160,000 Marketable securities 75,000 Accounts receivable (n

et) 65,000 Inventory 140,000 Accounts payable 200,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
Business
1 answer:
marusya05 [52]2 years ago
7 0

Answer and Explanation:

a. The current ratio is

We know that

Current ratio = Current Assets ÷ Current Liabilities

= $440,000 ÷ $200,000

= 2.2

Cash $160,000

Marketable Securities $75,000

Account receivable $65,000

Inventory $140,000

Current Assets $440,000

Account Payable $200,000

current liabilities $200,000

b

Quick ratio =( Current assets - inventory ) ÷ Current Liabilities

= ($440,000 - $140,000 ) ÷ $200,000

= 1.5

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as of december 31, the unadjusted balance in deferred revenue contains $5,600 for unredeemed gift cards. an analysis of the mont
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Since the gift cards was  redeemed during the month which means that Unearned Revenue will have to be  decreased by the costs of gift cards that was redeemed during the month.

Calculated as:

Unearned Revenue=$5,600-$3,200

Unearned Revenue=$2,400  decrease

Since the gift cards was  redeemed during the month which means that  will have  increased Sales revenue by the costs of  of gift cards that was redeemed during the month.

Calculated as:

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Sales revenue=$8,800 Increase

Inconclusion These transaction  will affect the adjustments at the end of the period by:

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Learn more here:

brainly.com/question/16202816

6 0
2 years ago
The purchasing power of money and the price level vary: Group of answer choices inversely. directly during recessions, but inver
Kamila [148]

Answer:

Option "Inversely" is correct.

Explanation:

Option “Inversely” is correct because the increase in price level exhibits inflation and a rise in inflation decreases the purchasing power of money. However, if the price level decreases or inflation decreases, then the purchasing power of money increases. Therefore we can see that increase in price level decreases the purchasing power and a decrease in price level increases the purchasing power. Therefore, there is an inverse relationship.

5 0
3 years ago
In a perfectly competitive industry, influence over price is exerted by
tigry1 [53]

Answer:

(C) the forces of supply and demand

Explanation:

In a perfectly competitive industry, no single buyer nor seller will be able to influence prices thus marking the forces of demand and supply (the invisible hand) the determinant of pricing. Each buyer or seller will only account for a minute portion of total demand and supply thus making their influence of market price insignificant.

Options (A), (B) and (D) are incorrect as the largest firms, individual sellers and individual buyers do not influence pricing over price in a perfectly competitive market.

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The modified accelerated cost recovery system (MACRS):Multiple ChoiceIs required for financial reporting.Does not allow partial
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Answer:

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