Received cash from customer on account 9150

M13-9 Inferring Financial Information Using the Current Ratio [LO 13-4] Mystic Laboratories reported total assets of $10,500,000

zaharov [31]

Answer: $6,410,000

Explanation:

The current ratio calculates the ability of a company to meet its short term liabilities.

A current ratio greater than 1 indicates that a company is more able to meet its short term obligations. Mystic Laboratories with a current ratio of 1.3 has a greater ability to meet its short term obligations.

Current ratio = current assets / current liabilities

Total assets = current assets + non current assets

$10,500,000 = current assets + $2,167,000

Current assets = $8,333,000

1.3 = $8,333,000 / current liabilities

Current liabilites = $6,410,000

I hope my answer helps you

7 0

3 years ago

What is the best way to pursue a leadership position?

cestrela7 [59]

D would actually be the correct answer because this would actually help improve your qualities of becoming that important leader. And by this, it would show your <span>leadership position</span>

4 0

3 years ago

In chicago's southside (and other places), auto mechanics (who work outside the formal sector, without a business license, adver

PilotLPTM [1.2K]

<span>the auto mechanics who are protected by the gangs are taking advantage of the barriers to entry that prevent competition. These barriers are controlled by the gangs and serve as a form of payment to the auto mechanics in the area</span>

5 0

2 years ago

A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Ea

torisob [31]

Answer: $4,800

Explanation:

First find the Annual holding cost:

= Average inventory * Cost of holding a unit

= 500/2 * 1 * 12 months

= $3,000

Then find the Annual ordering cost:

= Expected units to be sold/ Units ordered * Ordering cost

= 9,000/500 * 100

= $1,800

Annual Inventory cost = Annual holding cost + Annual ordering cost

= 3,000 + 1,800

= $4,800

4 0

2 years ago

The legal definition of "small business" varies by country and by industry. In the United States, the Small Business Administrat

tamaranim1 [39]

Answer:

Leasing as a capital financing is an alternative for small business for three important reasons: better technology, better capital management and tax incentives.

Explanation:

1. Better technology for the business.

Instead of buying the equipment, a lease is a better option because allows the organization to use cutting edge technology for the operation of a business.

2. Better capital management.

Buying machinery is a capital-intensive activity. Leasing let use the same machinery by less amounts of money and invest capital in other useful activities for the organization.

3. Tax benefits

Leasing is tax deductible. Reducing the fiscal pressure over the small business.

6 0

3 years ago