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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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On January 5, 2020, Sheffield Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumu

andrew11 [14]

Answer:

Sheffield Corporation

Journal Entries

Date Description DR CR

Jan 11 Cash 292,500

Common stock 195,000

Paid in Capital for common stock 97,500

Being the amount received on issue of

Feb 11 Equipment 53,300

Factory Building 152,000

Land 295,000

Prefereed stock 410,000

Paid -in -capital for Preferred stock 90,300

July 29 Treasury stock 25,600

Cash 25,600

Being the payment of own share purchased

Aug 10 Cash 22,400

Retained Earnings 3,200

Treasury stock 25,600

Dec 31 Retained earnings 10,025

Dividend(0.35*19500) 6,825

Treasury stock 3,200

Dec 31 Net Income ( Income Summary) 158,400

Retained Earnings 158,400

Balance sheet as at Dec 31

Equity

Common stock at $10 par value $195,000

7% Preferred Stock 410,000

Paid in capital for common stock 97,500

Paid in capital for Preferred stock 90,300

Retained Earnings ( 158,400-6825-3200) 148,375

941,175

Explanation:

4 0

3 years ago

If employees are bonded a. it means that they are not allowed to handle cash b. they have worked for the company for at least 10

Ierofanga [76]

Answer:

c. they have been insured against misappropriation of assets.

Explanation:

A company bonds its employees to protect itself against theft by its workers. Being bonded means securing the money available to customers if a claim is made against the company. Bonding offers compensation to a business should a loss arise through employee's actions.

The law requires companies that handle cash and cash equivalents such as stocks certificates to bond their employees. A company may choose from the various types of bond insurance in the market. For example, employers may use the fidelity bond to protect against employee theft.

6 0

3 years ago

Production used 2.5 labor hours per finished unit, and the company actually paid $21 per hour, totaling $52.50 per unit of finis

jeka94

Answer:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual hours

Explanation:

Giving the following information:

The production used 2.5 labor hours per finished unit, and the company paid $21 per hour, totaling $52.50 per unit of finished product.

We weren't provided with enough information to solve the problem. We need estimated production hours and rates. But, I can leave the formula to solve it.

To calculate direct labor rate variance, we need to use the following formula:

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Hours

3 0

3 years ago

His income increased dramatically;from$5000 a year to $60,000 a year. Jim decides that instead of using the bus, he would buy a

svet-max [94.6K]

Answer:

This implies that bus is an inferior good and car is a normal good.

Explanation:

Initially, Jim's income was $5000 a year.

As his income increases to $60,000 a year, he decides to buy a car instead of using the bus.

In other words, with the increase in income, the demand for traveling by bus is declining.

This implies that it is an inferior good.

The demand for the car is increasing with an increase in income.

So, the car is a normal good.

An inferior good can be defined as a product that shows negative elasticity. This means with an increase in income its demand declines an vice versa.

A normal good can be defined as a product that shows positive income elasticity. That is, its demand increases with rise in income and vice versa.

4 0

3 years ago

A successful advertised campaign affects

tatyana61 [14]

Answer:

B the responsiveness of quantity demanded of a good due to a change in its price.

Explanation:

B ...

3 0

3 years ago