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exis [7]
4 years ago
10

Gnas Corporation's total current assets are $258,000, its noncurrent assets are $638,000, its total current liabilities are $192

,000, its long-term liabilities are $522,000, and its stockholders' equity is $182,000. The current ratio is closest to:________.
Business
1 answer:
Galina-37 [17]4 years ago
3 0

Answer:

1.34

Explanation:

Data provided in the question:

Gnas Corporation's total current assets = $258,000

Noncurrent assets = $638,000

Total current liabilities = $192,000

Long-term liabilities = $522,000

Stockholders' equity = $182,000

Now,

Current Ratio = ( Current Assets ) ÷ ( current liabilities )

or

Current Ratio = $258,000 ÷ $192,000

or

Current Ratio = 1.34

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Indicate whether the following statements are positive or normative. a. Raising interest rates encourages people to save: b. The
denpristay [2]

a. Raising interest rates encourages people to save: positive statement

b. The government ought to be more concerned with reducing unemployment: normative statement

c. The government should raise the tax on tobacco to discourage people from smoking: normative statement

d. The government should limit immigration: normative statement

e. Increasing gasoline taxes results in less disposable income: normative statement

f. The government should raise gasoline taxes and fix bridges: normative statement

<h3>What are normative and positive statements?</h3>

Normative statements come from a viewpoint or an opinion. As a result, the terms "should," "ought," or "it is preferable to" are commonly used. Normative statements can never be proven to be true.

Conversely, positive statements can often be put to the test in theory, if not always in practice. Positive statements are not value judgments. They are predictions of what it is, was, or will become.

Thus, option A is a positive statement and rest are normative statements.

Learn more about positive and normative statements here:

brainly.com/question/14408475

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3 0
2 years ago
In a periodic inventory system, which of the following accounts may be closed by debiting Cost of Goods Sold? a) Sales, Inventor
Svetradugi [14.3K]

Answer:

c) Inventory (beginning) and Purchases.

Explanation:

When you use perpetual inventory system, you must record cost of goods sold every time you make a sale. But when you use a periodic inventory system, you close cost of goods sold with merchandise inventory account at the end of the period.

beginning inventory + purchases - ending inventory = cost of goods sold

6 0
3 years ago
In a partnership, loans taken out by the general partners
Romashka-Z-Leto [24]

Answer:

aren't binding on the limited partners.

Explanation:

A  partnership is a form of business ownership where two or more individuals come together to establish a business venture. A partnership may consist of generals and limited partners.

General partners are actively involved in business operations. They manage the day to day activities of the business. Generals partners act on behalf of the business and have unlimited liabilities to the debt of the enterprise.

Limited partners are silent partners. They do not participate in managing the business. A limited partner, as the name suggests, has limited liability to the obligations of the business. Should a general partner take out a loan, a limited partner will be liable to the extent of his or her capital contribution.

4 0
3 years ago
Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect co
kirill [66]

Answer:

overhead rate = 18 per hours

Explanation:

given data

indirect costs = $396,000

Department         DLH                      Loans Processed                Direct Costs

Consumer         14,000                   700                                        $280,000

Commercial       8,000                    300                                       $180000

to find out

overhead rate

solution

we get here overhead rate that is express as

overhead rate = \frac{indirect\ cost}{total\ DLH} ...............1

put here value

overhead rate = \frac{396000}{14000+8000}  

overhead rate = 18 per hours

4 0
4 years ago
The lowest amount a manufacturer can pay factory workers is an example of
Harrizon [31]

Answer: Price floor

Explanation:

A price floor is the legal minimum price control that is imposed by the government. It is binding when the equilibrium price is below the legal minimum price. At the price floor quantity supplied of a good is greater than its demand.Thus there is a surplus in the market at the price floor.

So, the lowest amount a manufacture can pay its factory workers is an example of a price floor.

Price ceiling is the maximum price that can be paid or charged for a good.

7 0
3 years ago
Read 2 more answers
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