Answer: b. Its quick ratio decreases.
Explanation:
The Quick ratio is calculated net of inventory to determine if a company can cover its current liabilities with its more liquid current assets. The formula is to subtract Inventory from the Current Assets and then divided that by the Currency liabilities.
The Quick ratio will be less than before because the number of current assets will not change but the amount of current liabilities will change as the goods were purchased on credit. With a larger denominator, the resultant ratio will be less than before.
Answer:
interest payable 66,000
note payable 384,000
Land 325,000
Gain on disposal 125,000
Explanation:
600,000 x 11% = 66,000 interest payable
the land is being used to settle the note along with the accrued interest at the time:
the accounting of Transit developments record the land at cost: 325,000
as the market valuye is 450,000 so a gain for 125,000 will be recognize.
450,000 market value - 66,000 interest payable: 384,000 payment on the note principal
the entry will write-off the interest payable, decrease the note by that amount and recognize the land gain on disposal
Answer:
(B) Dow Jones Economic Sentiment Indicator
Explanation:
Dow Jones Economic Sentiment Indicator measures the economic health of the Texas economy; furthermore, it is commonly approved by economists throughout the US, as an economic measurement tool used for forecasting.
Answer:
(395) NA (395)NA 400 (395)(395) OA
Explanation:
Data provided in the question
Petty cash fund balance = $500
Remaining cash balance = $105
Vouchers for miscellaneous expenses = $400
Sp by considering the above information, the effect would be and the balance would be
= Petty cash fund balance - remaining cash balance
= $500 - $105
= $395
So the effect would be recorded as an operating activity for $395 plus it also records the miscellaneous expense for $400 and another financial statement is also affected
As either? did you finish it?