Question: The quick ratio is 0.81. Current assets are $103,000 and current liabilities are $79,000. What is the amount in the inventory account?

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A: Step 1: Define Break-Even Point in UnitsThe break-even point is the number of units a company must…

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A: **Step 1: Determine the Amount Realized**The amount realized includes:  - The **cash** received:…

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A: Step 1: Define Stock Dividend and Stock SplitStock dividend can be interpreted as bonus shares,…

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A: Step 1: Definitions of Definition of Average Collection PeriodThe average collection period measures…

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A: Explanation of Average Inventory: Average inventory represents the typical inventory level…

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A: 1. Marginal Income per unitMarginal income is the difference between sales revenue and variable…

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A: Detailed Explanation of the Financial Statements: Profit and Loss StatementThe profit and loss…

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A: Step 1: Define Fair market valueIt is the price at which the product or service is available for…

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A: To calculate the difference in net income between FIFO and LIFO, we first need to compute the cost…

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A: Step 1: Definition of Absorption CostingAbsorption costing is a method where all manufacturing…

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A: Given:Budgeted variable maintenance costs = $300,000Actual variable maintenance costs =…

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A: Calculate the Economic Order Quantity (EOQ):EOQ formula: $$EOQ = \sqrt{\frac{2DS}{H}}$$DD: Annual…

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A: Concept of Capital Maintenance Adjustment: A capital maintenance adjustment refers to the accounting…

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A: Explanation: The formula to calculate operating ratio is as follows:Operating ratio = [(Losses +…

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A: Step 1: Define High-low MethodHigh-low method is the easiest method of computing the variable and…

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A: Step 1:  Loss on disposal if accumulated depreciation is less than the original cost.   Step 2: Loss…

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A: Step 1: Define Direct Labor VariancesDirect Labor Variances can be due to differences in the prices…

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A: 1.Predetermined Overhead RateThe predetermined overhead rate is calculated at the beginning of the…

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A: Step 1: Transactions Affecting Total AssetsServices Provided on Account:The company provided $45,500…

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A: Step 1: Information givenNet Income = $2,558.4 millionStockholders' equity for 2014 = $5,716…

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A: Step 1: Define Net SalesNet sales represent the revenue earned from selling goods to the customers…

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A: Step 1: Define Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the total cost…

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A: Concept of Current RatioThe current ratio is a liquidity metric that measures a company's ability to…

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A: To determine Calc Corporation's total liability balance on December 31, 2014, we will use the basic…

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A: The question requires the determination of the percentage increase in sales. The percentage increase…

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A: Step 1:First calculate the contribution margin: Contribution margin = Sales - Variable costs…

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A: Step 1: Define High-low MethodHigh-low method is one of the methods used in computing for the…

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A: Explanation of Units to Be Produced:Units to be produced refer to the total quantity of goods a…

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A: Step 1: Define Annual Credit SalesAnnual Credit Sales represent the total revenue generated by a…

Q: What was the direct labor for the period?

A: To calculate the direct labor cost, we will use the Cost of Goods Manufactured (COGM) formula: Cost…

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A: Given:Fixed Overhead: $120,000 (unchanging regardless of production level)Variable Overhead:…

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A: Step 1: Definition of Cost of EquipmentThe cost of equipment includes all expenditures necessary to…

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A: Explanation of Target Sales Revenue:Target sales revenue is the amount of revenue a company needs to…

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A: Step 1: Definition of Labor Efficiency VarianceThe Labor Efficiency Variance measures the difference…

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A: Step 1: Define Days' Sales in ReceivablesDays' Sales in Receivables is a financial ratio that…

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A: To calculate Free Cash Flow (FCF), we use the formula:FCF=NOPAT+Depreciation−Capital Expenditures…

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A: Step 1: Define Return on Assets (ROA)ROA measures a company's profitability relative to its total…

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A: Explanation of Double-Declining-Balance Method:The double-declining-balance method is an accelerated…

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A: Explanation of Revenue Accounts:Revenue accounts represent the income a company earns from selling…

Q: What is the belence under current liabilities in the 2024 balance sheet??

A: Step 1: Define Current LiabilityCurrent liabilities are the obligation a company has to repay in…

Q: What is the amount of current liabilities??

A: Step 1: Define Current LiabilitiesCurrent liabilities are the borrowings that the business has to…

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A: The question requires the determination of the maturity value of the note. Maturity value is the…

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A: Step 1: Definitions of Definition of Market-to-Book RatioThe market-to-book ratio compares a…

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A: Explanation of Total Labor Variance:Total labor variance measures the difference between the actual…

Q: Determine theri respective contribution margin?

A: Step 1: Start with the DOL formula:• DOL = Contribution Margin / Net Income Step 2: Rearrange to…