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bagirrra123 [75]
2 years ago
15

The following items are reported on a company's balance sheet: Cash $210,000 Marketable securities 120,000 Accounts receivable (

net) 110,000 Inventory 160,000 Accounts payable 200,000 Determine (a) the current ratio and (b) the quick ratio. Round your answers to one decimal place. a. Current ratio fill in the blank 1 b. Quick ratio fill in the blank 2
Business
1 answer:
valkas [14]2 years ago
3 0

Answer:

See below

Explanation:

1. Current ration

= Current asset/Current liabilities

Current assets = Cash + Marketable securities + Accounts receivables + Inventory

= $210,000 + $120,000 + $110,000 + $160,000

= $600,000

Current liabilities = Accounts payable = $200,000

Current ratio = $600,000/$200,000

Current ratio = 3:1

2. Quick ratio

= Current assets - Inventory / Current liabilities

= ($600,000 - $160,000) / $200,000

= 2.2 : 1

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A trust deed gives the lender a right to request the trustee perform certain tasks in order to fulfill the terms of the trust. T
yulyashka [42]

Answer:

naked title

Explanation:

According to my research on property documentation, I can say that based on the information provided within the question the trustee holds the naked title. The Naked Title is defined as the bare legal title to a certain property, which does not include any of the benefits of ownership.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

3 0
3 years ago
During the course of your examination of the financial statements of Trojan Corporation for the year ended December 31, 2018, yo
siniylev [52]

Answer:

$76,440

Explanation:

Calculation to determine the proper amount of net income as of December 31, 2018

Net income $87,000

Less Adjusted for insurance ($4,050)

($16,200*3/12)

Less Adjusted for deferred income ($2,700)

Less Adjusted for supplies ($2,100)

Less Adjusted for interest ($1,710)

($57,000*9%*4/12)

Net income (Adjusted) $76,440

Therefore The the proper amount of net income as of December 31, 2018 will be $76,440

4 0
2 years ago
What is the 2016 repayment limitation for a single taxpayer who has income at a 350% poverty level?
ryzh [129]
The correct answer to this question is $1250. To prove this, an image is attached together with this answer. 

<span>The 2016 repayment limitation for a single taxpayer who has income at a 350% poverty level is $1250. Based on the image, it shows that at the line of at least 300% but less than 400%, the repayment limit of single tax payer is $1250.</span>

3 0
2 years ago
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company provide
trasher [3.6K]

Answer:

Delph Company

a) Plantwide predetermined overhead rate = $17.68

b) The total manufacturing cost assigned to:

                                                  Job D-70     Job C-200

Direct materials cost              $ 699,000     $ 500,000

Direct labor cost                        400,000        340,000

Manufacturing overhead           720,789         582,811

Total manufacturing cost    $ 1,819,789   $ 1,422,811

c) Bid Prices:

                                                           Job D-70        Job C-200

150% of total manufacturing cost  $2,729,683.50  $2,134,216.50

d) Cost of goods sold:

Job D-70           $ 1,819,789

Job C-200          $ 1,422,811

Total                 $3,242,600

Explanation:

a) Data and Calculations:

                                                                 Molding     Fabrication     Total

Machine-hours                                          23,000        33,000        56,000

Fixed manufacturing overhead costs $790,000   $200,000    $990,000

Variable overhead cost per machine-hour $5.60       $5.60

                                                                 Molding     Fabrication     Total

Job D-70

Direct materials cost                           $ 371,000  $ 328,000   $ 699,000

Direct labor cost                                $ 240,000   $ 160,000   $ 400,000

Machine-hours                                         16,000          7,000        23,000

Job C-200

Direct materials cost                       $ 290,000    $ 210,000  $ 500,000

Direct labor cost                              $ 100,000    $ 240,000  $ 340,000

Machine-hours                                       7,000          26,000       33,000

Plantwide predetermined overhead rate based on machine-hours:

= $990,000/56,000

= $17.68

Manufacturing overhead costs:

                                                                 Molding     Fabrication     Total

Fixed manufacturing overhead costs $790,000   $200,000     $990,000

Variable manufacturing overhead         128,800       184,800        313,600

Total manufacturing overhead costs  $918,800    $384,800  $1,303,600

Overhead rate

Molding = $39.9478 ($918,800/23,000)

Fabrication = $11.6606  ($384,800/33,000)

Assignment of manufacturing overhead:

                      Job D-70     Job C-200

Molding       $639,165        $279,635

Fabrication      81,624            303,176

Total           $720,789          $582,811    

3 0
2 years ago
If the owner of a jewelry store who normally purchased diamonds from a diamond brokerage firm were to open his own diamond broke
Rainbow [258]

Answer:

False

Explanation:

Forward Vertical Integration occurs when a company acquires one of its suppliers.

In this case, we do not have an example of forward vertical integration because the owner of the jewerly store did not purchase the supplier: the diamond brokerage firm. He instead opted to start his own brokerage firm.

The case in the question is an example of forward vertical integration, that occurs when a company moves along the supply chain by starting its own subsidiares instead of buying existing ones.

3 0
3 years ago
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