Answer:
a. 2.00
b. 1.50
Explanation:
The Current and Quick ratios are both liquidity ratios that are used to determine the ability of a company to pay off its current liabilities with current assets.
a. Current Ratio
= Current assets / Current liabilities
= (100,000 + 50,000 + 60,000 + 70,000) / 140,000
= 2.00
b. Quick ratio
= (Current assets - Inventory) / Current liabilities
= (100,000 + 50,000 + 60,000) / 140,000
= 1.50
If you can market well, you rely less on what you are selling, but more on getting the buyers' interest in the product
A line of credit is similar to a credit card in that it is a flexible borrowing solution. You can draw on this revolving loan simply by writing a check. you are also able to borrow any part of your credit line again once you have paid it off. <span />
Answer:
Labour rate variance
= (Standard rate - Actual rate) x Actual hours worked
= ($12 - $13) x 320,000 hours
= $320,000(U)
The correct answer is C
Explanation:
Labour rate variance is the difference between standard labour rate and actual labour rate multiplied by actual labour hours worked.
Answer:
$260,000
Explanation:
Opening balance = Ending balance - Increase in ending balance
=$66,000 - $10,000
=$56,000
Supplies Expenses = Opening balance + Purchases - Closing balance
=$56,000 + $270,000 - $66,000
=$336,000 - $66,000
=$260,000
Therefore, the amount that will be the adjusting entry to supplies expenses is $260,000
