Val-tek has current assets of $1,700,000 and current liabilities of $900,000. If they pay $100,000 owed to a creditor, what will their new current ratio be 2:1*.
*{($1,700,000 - $100,000) ÷ ($900,000 - $100,000) = $2:1}
<h3>What are liabilities?</h3>
Legal responsibilities or debt owing to another person or business are known as liabilities. In other words, liabilities are future economic advantages that an entity must forgo for other entities as a result of previous transactions or occurrences.
<h3>What are assets?</h3>
An asset is any resource that a company or other economic organization owns or has control over. It is everything that has the potential to provide gains in terms of the economy. Assets are ownership worth that may be exchanged for cash.
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Answer:
Stockton Company
The retained earnings ending balance is:
= $12,114.
Explanation:
a) Data and Calculations:
Stockton Company
Adjusted Trial Balance December 31
Cash 6,102
Accounts Receivable 2,938
Prepaid Expenses 703
Equipment 15,970
Accumulated Depreciation 6,337
Accounts Payable 1,719
Notes Payable 4,543
Common Stock 1,000
Retained Earnings 10,872
Dividends 916
Fees Earned 6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51
Totals 30,647 30,647
Income Statement for the year:
Fees Earned $6,176
Wages Expense 2,514
Rent Expense 761
Utilities Expense 459
Depreciation Expense 233
Miscellaneous Expense 51 4,018
Net Income $2,158
Statement of Retained Earnings for the year:
Net Income $2,158
Retained Earnings 10,872
Dividends (916)
Retained Earnings, ending $12,114
Answer:
False.
Explanation:
Alcohol is not digested like other foods. Once alcohol is swallowed, it travels down the esophagus into the stomach and the small intestine. It avoids the normal digestive process and goes right into the bloodstream.
Answer:
C) efficiency
Explanation:
Efficiency is defined as the ratio between the inputs required to produce a certain amount of output. In other words, the more efficient the company is, the lower its average production costs.
An efficient company is able to produce more output using the same amount of inputs as other companies, or produce the same output using a smaller amount of inputs.
In this case, Trent Automobiles is just the opposite, their bad purchasing decisions led to higher costs which reduces their efficiency levels.
Answer:
True
Explanation:
The above statement is true as the distracted driving is act of driving along with engaging into certain other activities which leads to the driver's lesser concentration and attention towards the the road and driving.
Since good teens are not supposed to make the poor choices while driving and engage into activities like using phone, texting or reading maps or messages etc.