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3 years ago

An expense that has been incurred but not yet paid is called a(n) ________.

1 answer:

3 0

<span>An expense that has been incurred but not yet paid is called an accrued expense.
An expense is categorized into many types according their property, like discount expense, depreciation expense, prepaid expense etc
Salaries payable and interest payable are the examples of Accrued expense, salaries payable are for one accounting period, they are not paid until the next.</span>

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3 years ago

Sprague Company has been operating for several years, and on December 31, 207, presented the following balance sheet.

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Answer:

A. Current Ratio= 2.63

B. Acid-Test Ratio = 1.44

C. Debt to Assets Ratio 51.16%

D. Return on assets 5.81%

Explanation:

a. Calculation forn Current Ratio

First step is to Calculate the Total Current Assets

Cash 40,000

Receivables 75,000

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Now let calculate Current Ratio

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b Calculation for Acid-Test Ratio

Acid-Test Ratio=(Current Assets - Inventory) / Current Liabilities

Acid-Test Ratio =(210,000-95,000)/80,000

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First step is to calculate total Debt

Accounts payable 80,000

Mortgage payable 140,000

Total Debt 220,000

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Debt to Assets Ratio= Total Debt/ Total Assets

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3 years ago

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3 years ago

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Answer:

Option (D) is correct.

Explanation:

Perfect substitute goods are the goods which can be used in place of each other.

Perfect substitutes refers to the goods which are having identical characterstics, features and provide the exactly same level of satisfaction.

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3 years ago

An expense that has been incurred but not yet paid is called​ a(n) ________.

An expense that has been incurred but not yet paid is called a(n) ________.