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algol13
3 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]3 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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MArishka [77]

Answer:

C

Explanation:

LRAS would shift left because there would be fewer workers available to produce goods at any given price. however sras is capable of shift left and right.

hope this helps <3

4 0
3 years ago
Sylvestor Systems borrows $110,000 cash on May 15 by signing a 60-day, 12%, $110,000 note. 1. On what date does this note mature
Salsk061 [2.6K]

Answer:

1. On what date does this note mature? July 14

2-a. Prepare the entry to record issuance of the note.

May 15

Dr. Cash. 110,000

Cr. Notes Payable. 110,000

2-b. First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your entry to record payment of the note at maturity.

Interest Maturity

Principle 110,000

Rate 12%

Time 60/360

Total interest 2,200

General Journal

Dr. Interest Payable. 2,200

Dr. Notes Payable. 110,000

Cr. Cash 112,200

6 0
3 years ago
All of the following are ways through which affirmative action can arise at the workplace except Multiple Choice legal requireme
olga nikolaevna [1]

All of the options are correct .

Affirmative actions are those that help persons who have faced discrimination because of their race, religion, or social status. This century-long disadvantage has caused certain groups, such as African Americans, to suffer in society. Affirmative action ensures that these underserved groups receive priority and preference in education, jobs, accommodation, and medical care.

Some argue that affirmative action focuses too heavily on minorities, and these efforts disproportionately hurt the poor. Rather than focusing on minority groups, the government may consider the economic strength of the individual or family and offer assistance appropriately.

Therefore, all the options are correct.

To know more affirmative actions click here:

brainly.com/question/1577837

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6 0
2 years ago
Here are three things you could do if you do not attend your economics class, watch television with some friends, read a good no
mezya [45]

Answer:

.c. $25, because this is the highest valued alternative forfeited

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If I attend my economics class, the $25 I would be missing out on is the opportunity cost because it is the highest valued alternative (which indicates that it is the next best option) I forfeited.

I hope my answer helps you

8 0
3 years ago
Yorketowne's city council opened a business park on the edge of the city. After five years, they had attracted two new manufactu
oee [108]

Answer:

$130,423.89

Explanation:

This is an incomplete question. Searching online, I got the complete question which is presented below.

To provide additional employment and add to its tax base from businesses, Yorketowne’s city council opened a business park on the edge of the city. After five years, they had attracted two new manufacturers and four supporting service businesses to the park. The total value of the property of all six businesses was $15,825,500. The companies paid $0.78 per $1,000 of property value each year as property tax. In addition, the businesses employed 328 people at an average salary of $36,000. Each person paid a 1 percent city income tax each year.

a. What is the total amount of taxes the city collected as a result of opening the business park?

b. In addition to the tax dollars, what other benefits might the city receive from opening the business park?

Solution A

Total amount of taxes the city collected =

Property tax paid by the companies + income tax by employees

= (Property Tax Rate*Property Value) + (Income Tax Rate*Average Salary*Number Of Employees)\\=(\frac{0.78}{1,000}*15,825,500) + (0.01*36,000*328)

= $12,343.89+$118,080

= $130,423.89 tax income per annum.

Solution B

Other benefits that might accrue to the city from opening the business park include.

  • Attraction of other businesses to the park given the success of existing businesses operating in the park.
  • Increased employment as new businesses continue to be established in the park.
  • Increased development at the edge of city as new homes and amenities are built to accommodate the employees of the city.
8 0
3 years ago
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