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3 years ago

Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31. (Round your answers to 2 decimal places.)

Business

2 answers:

Ierofanga [76]3 years ago

7 0

Answer:

Can you plssssssssssss help me

Can you do plsssssssss help me

JulijaS [17]3 years ago

7 0

Answer:

needs further explanation

Explanation:

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Through conscious repetition of information, we can encode information for long-term storage. this is known as _____.

Iteru [2.4K]

This is known as rehearsal.

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3 years ago

Five individuals organized Miami Music Corporation on January 1. At the end of January 31, the following monthly financial data

s344n2d4d5 [400]

Answer:

a. Profit(loss) = Total revenue - Total expenses

= 131,000 - 90,500

= $41,000

The company did in fact generate profit of $41,000 and this can be shown from the Income Statement which is where profit or loss is calculated.

b. A company uses its assets to pay off its liabilities so if the liabilities are less than the assets then the company is capable of paying off its liabilities:

Assets = Cash + Accounts Receivable + Supplies

= 30,800 + 25,300 + 40,700

= $96,800

Liabilities are just the Accounts Payable of $25,700.

Liabilities are less than Assets so Miami Music does indeed have sufficient resources to pay its liabilities.

This information comes from the Balance Sheet which is where assets and liabilities are shown.

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3 years ago

HELPPP Why do many business owners avoid market research? Question 14 options: They're afraid of hearing any negative feedback.

sweet-ann [11.9K]

Answer:

they are afraid of hearing any negative feedback

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2 years ago

The ability for a business to pay all that is owed is called what?

RoseWind [281]

Solvency. The ability for a business to pay debts on hand is referenced as solvency same Latin root as resolve. Liquidity references the percentage of cash on hand.

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3 years ago

Read 2 more answers

Statement of stockholders' equity Financial information related to All Seasons Company for the month ended June 30, 20Y7, is as

rodikova [14]

Answer:

Stockholders' equity is $267,500.

Explanation:

Note: See the attached excel file for the statement of stockholders' equity.

The following are used to confirm the figures in the ayyached excel file:

Seasons Company

Statement of Stockholders' Equity

for the month ended June 30, 20Y7

Particular Amount ($)

Common stock (w.1) 50,000

Retained earnings (w.2) 217,500

Stockholders' equity 267,500

Workings:

w.1: Common stock June 30, 20Y7 = Common stock, June 1, 20Y7 + Stock issued in June = $30,000 + $20,000 = $50,000

w2: Retained earnings June 30, 20Y7 = Retained earnings, June 1, 20Y7 + Net income for June - Dividends during June = $145,000 + $87,500 - $15,000 = $217,500

Download xlsx

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3 years ago