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KiRa [710]
3 years ago
7

Gt company has $200 in cash, $500 in accounts receivable, and $700 in inventory. the company also has $200 in accounts payable a

nd $200 in unearned sales revenue. what is the company's quick ratio?
a. 2.25
b. 3.00
c. 1.75
d. 3.50
Business
1 answer:
scZoUnD [109]3 years ago
3 0
<span>b. 3.00 is the answer, I believe!</span><span />
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Listed below are accounts to use for transactions (a) through (1), each identified by a number. Following this list are the tran
Furkat [3]

Answer:

The accounts to use for transactions is shown below. it also indicates which transaction is placed either in the debit or credit side.

Explanation:

Solution

       Accounts Debited                  Accounts Credited

a.     Utilities Expense                       Utilities Payable

b.     Utilities Payable                              Cash

c.      Prepared insurance                       Cash

d.      Insurance Expense                 Prepared insurance  

e.       Cash                                       Unearned Cash

f        Unearned Fees                       Fees Earned

g.      Office supplies                        Cash, Accounts Payable

h        Cash                                        Notes Payable

i         Interest Expense                     Interest Payable

j         Depreciation Expense-Office  

         (Office Equipment)                Accumulated Depreciation

                                                              (Office Equipment)

7 0
3 years ago
At the end of its most recent accounting period, Hinch Corporation had a balance of Accounts Receivable of $725,000 and a credit
Effectus [21]

Answer:

a. Debit to Bad Debts Expense of $26,600

Explanation:

The computation of the bad debt expense is shown below:

= Allowance for uncollectible accounts - credit balance of allowance for uncollectible accounts

= $31,400 - $4,800

= $26,600

Hence, the first option is correct

6 0
3 years ago
A conflict of interest between the stockholders and managers of a firm is referred to as the:________
GalinKa [24]

A conflict of interest between the stockholders and managers of a firm is referred to as the agency problem (option c).

<h3>What is the agency problem?</h3>

The agency problem  is a conflict of interest between the managers of the company and the principal (shareholders). The agency problem

occurs when the interest of the managers and the shareholders are not aligned.

For example, if the income of managers are tied to net income, it might  motivate managers to undertake risky projects that might not maximise shareholders wealth. This would lead to agency problem.

To learn more about agency problem, please check: brainly.com/question/16834354

#SPJ1

3 0
2 years ago
Political forces that affect transportation businesses
bearhunter [10]

It is important to note that politics and the economy have effects on the transportation industry, as the industry is ever changing with new policies, regulations, or capacity issues.

Politicians and the policies they create dictate the US economy, effecting all industries. It is seen that the transportation industry saw effects because of the trade and tariff wars. The overall regulations depend largely on the economic and political outlook of the party in power.

For instance, a government that is inclined to pursue neo-liberal policies,  could pass more legislations favoring industries and big businesses, while a government inspired by socialism could push policies favoring small businesses.

Hence, the answer was given and explained above.

To learn more about politics and political party here:

brainly.com/question/12548909

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4 0
1 year ago
Suppose that national income in a country is $300 billion, taxes paid by households is $130 billion, household consumption is $1
zhenek [66]

Answer:

$180 billion

Explanation:

The consumption is an act of spending the money from an income. The marginal propensity to consume is the proportion increase in the amount that a consumer is spending. The savings then decline if the consumption increases. In the given scenario the consumption will not raise even if there is an increase in national income and taxes are kept fixed at previous level. This is because marginal propensity to consume is same.

5 0
3 years ago
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