1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
erma4kov [3.2K]
3 years ago
7

Accounts receivable $ 18,000 Long-term notes payable $ 21,000 Accounts payable 11,000 Office supplies 2,800 Buildings 45,000 Pre

paid insurance 3,560 Cash 7,000 Unearned services revenue 3,000 Compute Chavez Company's current ratio using the above information.
Business
1 answer:
jarptica [38.1K]3 years ago
3 0

Answer: 2.24

Explanation:

Current ratio = Current Assets / Current liabilities

Current assets = Accounts receivable + Office supplies + Prepaid insurance + Cash

= 18,000 + 2,800 + 3,560 + 7,000

= $31,360

Current liabilities:

= Accounts payable + Unearned service revenue

= 11,000 + 3,000

= $14,000

Current ratio = 31,360 / 14,000

= 2.24

You might be interested in
Nu Company reported the following pretax data for its first year of operations. Net sales 2,800 Cost of goods available for sale
VLD [36.1K]

Answer:

$144

Explanation:

The computation of the net income is shown below:

Net income = Net sales - Cost of goods sold - operating expenses  - income tax expense

where,

Cost of goods sold = $2,800 - $880 = $1,680

Income tax expense = ( Net sales - Cost of goods sold - operating expenses) × tax rate

= ($2,800 - $1,680 - $880) × 40%

And, the other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $2,800 - $1,680 - $880 - $96

= $144

3 0
4 years ago
The most worthless money in the world?​
Inessa [10]
A penny


But the most worthless thing in the world is love.
You love them and they snap you like a twig
3 0
3 years ago
Read 2 more answers
Managers depend on accurate factory overhead allocation to make decisions regarding product mix and product price. True False
irina [24]

Answer:

True

Explanation:

As we know that the overhead is an indirect cost

So for allocation of the factory overhead the managers are fully depend on the allocation and believed that it is correct and accurate. Also it is useful to make decisions with respect to the product mix and the price of the product

Therefore the given statement is true

And, the same is to be considered

6 0
3 years ago
According to the U.S. Department of Labor Statistics, in 2009 high school graduates made approximately _____ more a year than th
iragen [17]
<span>According to the U.S. Department of Labor Statistics, in 2009 high school graduates made approximately $ 32,544/Year, <span>whereas</span>,</span><span> those who did not complete high school </span>made approximately $23,664.
Which mean the ones who graduated the high school earned around $10,000 more than the ones without a high school degree.

3 0
3 years ago
Read 2 more answers
Suppose that Portugal and Switzerland both produce fish and olives. Portugal's opportunity cost of producing a crate of olives i
Rashid [163]

Answer:

Portugal has comparative advantage in producing olives.

Switzerland has comparative advantage in producing fish.

Portugal can gain from trade if it receives more than 3 pounds of fish per crate of olives.

Switzerland can gain from trade if it receives more than 1/11 of olives for each pound of fish.

d. 18 pounds of fish per crate of olives.

Explanation:

Switzerland and Portugal both countries can produce Olives and fish. One country has advantage in producing fish while other has advantage in producing olives. Both countries can gain from trade if they find a intermediary way so that both countries can be in win win situation. It is beneficial for Portugal if it trades with Switzerland if it receives more than 3 pounds of fish.

4 0
3 years ago
Other questions:
  • Charlie deposits, or invests, his paycheck in a savings account. the bank can then offer some of the money to a borrower in the
    10·2 answers
  • The government of lenzerbia, a country in south asia, monitors its inflation rate using an index that measures change over time
    12·2 answers
  • Ernest is 42 years old and has been out of work for two months. he lost his position as a program manager when his company merge
    14·1 answer
  • The financial ratio measured as net income divided by sales is known as the firm's:
    7·1 answer
  • Mention the major jobs of pharmacist​
    15·2 answers
  • Net working capital is defined as: a. current liabilities minus shareholders' equity. b. total liabilities minus shareholders' e
    14·1 answer
  • Jorge has $300 for work he performed. He expects to spend the money in the next few weeks to buy a new bike. Which type of accou
    12·2 answers
  • Hutchinson Corporation has zero debt ⎯it is financed only with common equity. Its total assets are $410,000. The new CFO wants t
    6·1 answer
  • The Doak Company has projected the following quarterly sales amounts for the coming year:
    5·1 answer
  • During the first month (April 20--), the following transactions occurred.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!