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gizmo_the_mogwai [7]
2 years ago
8

Selected financial data regarding current assets and current liabilities for Queen’s Line, a competitor in the cruise line indus

try, is provided:($ in millions)Current assets: Cash and cash equivalents $ 331 Current investments 63 Net receivables 230 Inventory 116 Other current assets 135Total current assets $ 875 Current liabilities: Accounts payable $1,025 Short-term debt 694 Other current liabilities 919 Total current liabilities $2,638Required:Calculate the current ratio and the acid-test ratio for Queen’s Line.
Business
1 answer:
RSB [31]2 years ago
8 0

Answer:

Current ratio = 0.33 times

Acid test ratio = 0.29 times

Explanation:

• Current ratio

Current ratio = Total current assets ÷ Total current liabilities

= $875 ÷ $2,638

= 0.33 times

• Acid test ratio

Acid test ratio = Quick assets ÷ total current liabilities

Where,

Quick assets = Total current assets - Inventory

= $875 - $116

= $759

Recall total current liabilities = $2,638

Therefore,

Acid test ratio = $759 ÷ $2,638

Acid test ratio = 0.29 times

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When the market rate is 10%, a company issues $60,000 of 12%, 10-year bonds dated January 1, 2017, that mature on December 31, 2
Shkiper50 [21]

Answer:

Credit, $60,000

Explanation:

Given,

Market rate = 10%

Face value $60,000 = Principal value.

When the bonds mature, the issuer records its payment of principal with credit to cash in the amount of principal value that is $60,000 because the bondholder will pay the principal with interest.

Therefore,

Bondholder will pay the $60,000 issued amount as principal because there is an additional interest amount needs to be paid.

It is credit because it is matured on the date of cash payment.

8 0
3 years ago
If your answer is zero, enter "O". a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $2,340 a mon
scoundrel [369]

Answer:

$2,400 in 2019 are deductible as alimony.

Step-by-step explanation:

Hillary get divorced in the year = 2016

She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.

His son will reach of the age of 18 = 2016 + 7 = 2023

She has to pay $200 till 2023 and $120 thereafter.

Her payments are deductible as alimony in 2019 would be = $200 × 12

                                                                                                 = $2,400

$2,400 in 2019 are deductible as alimony.

4 0
3 years ago
Antoine recently received an email from a fraudulent organization that sought his personal financial account information. Recogn
Airida [17]

Answer:

The answer is: Phishing

Explanation:

Phishing is carried out by individuals who are trying to scan users. This is done by sending emails to try to collect someone else's credit card information, online banking accounts, or other type of login information. Phishing can also be done through web pages that are designed to illegally collect their users' information.

3 0
2 years ago
Research the different types of body language the people use in different cultures.
KiRa [710]

Answer:

Explanation:

Body language is an extremely important form of communication in every single culture, yet every culture has differences. For example...

Korean's tend to greet individuals with a bow. This is a form of showing respect as well as saying hello. Other cultures such as the Swiss tend to greet others with three cheek kisses.

Body language can be for many occasions such as Americans using the middle finger to show their dislike of someone. There's also Italian's closing their fingers together in form of a pinecone to show their distraught over something.

Body language has always been a way of expressing oneself and their emotions.

4 0
3 years ago
Open-end mutual funds are the most common type of investment company. Which of the following statements characterize these funds
victus00 [196]

Answer:

The  statements that characterizes these funds is:

a. Fairly liquid investments.

b. Issue new shares in response to increased demand.

c. Increase diversification but do not reduce nonsystematic risk.

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d) Require Minimum Purchase of 3000: FALSE. As the Minimum investment for the mutual funds starts from 250 or 1000 and not 3000.

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Therefore, The  statements that characterizes these funds is:

a. Fairly liquid investments.

b. Issue new shares in response to increased demand.

c. Increase diversification but do not reduce nonsystematic risk.

3 0
3 years ago
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