Answer and Explanation:
a. The preparation of the current liability section is presented below;
Notes payable - 3 months $80,000
Accounts payable $45,000
Estimated warranty liabilities $34,000
Payroll and benefit payable $27,000
Current portion of the Mortgage $25,000
Sales Tax payable $16,000
Interest payable $3,000
Total $230,000
b. We know that
Current ratio = current asset ÷ current liabilty
= $450,000 ÷ $230,000
= 1.95 times
This represent the company is in the good liquidity position to pay off the short term liability
Answer:
Raw ending 643,300
ending WIP 199,240
ending FG 37,000
Explanation:
<em>Raw materials </em>
beginning 29300
purchased 1041000
used in production <u> (427000)</u>
ending 643300
<em>cost added (in between step to get ending WIP)</em>
materials 427000
direct labor 312240 (24,000 DLH x $13.01)
overhead 164000
total 903240
<em>Ending WIP</em>
beginning WIP 151000
added 903240
COGM <u> (855000)</u>
ending WIP 199240
<em>Finished goods</em>
beginning FG 257000
COGM 855000
COGS <u> (1075000)</u>
ending FG 37000
Pay-per-click is an internet advertising model used to drive traffic to websites, in which an advertiser pays a publisher when the ad is clicked. Pay-per-click is commonly associated with first-tier search engines.
Generally, when the exports exceeds imports then the economy is said to have a trade surplus.
<h3>What is a
trade surplus?</h3>
This refers to the economic situation whereby one country sells more goods to other countries than it buys that is, when the exports exceed imports.
Hence, the trade surplus occurs when a country exports more than it imports such as when the difference between exports and imports is positive.
A very good illustration of trade surplus is if the United States were to export $1 trillion worth of goods and import only $200 billion worth of goods, then, it would have an $800 billion trade surplus.
Hence, when the exports exceeds imports then the economy is said to have a trade surplus.
Therefore, the Option B is correct.
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Answer: a. Both supply and demand.
Explanation:
Lobsters are plentiful and easy to catch in august but scarce and difficult to catch in November. This means that the supply of Lobsters increases in the month of August than in any other month.
At the same time, vacationers shift the demand for lobsters further to the right in august than in any other month. This means that demand for lobsters increases in the month of august than in any other month.
Thus, both supply and demand for lobsters is high in the month of August.