The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $503,000, what is the amount of current liabilities?
Q: business operating in Charlotte, North Carolina FUTA tax rate
A: FUTA Tax Rate: Full Explanation for Businesses Operating in Charlotte, North CarolinaThe Federal…
Q: None
A: Step 1: Introduction to the Issued SharesThe subset of approved shares that have been sold to and…
Q: fill all questuins data
A: Lease Liability on December 31, 2015Kuhn Corporation has entered into a capital lease. The first…
Q: Business 123 Introduction to Investments May I please have an expert's explanation and solution for…
A: Introduction to Investment EvaluationInvestors are constantly seeking methods to assess potential…
Q: Dropping Unprofitable Department Thomas Corporation has four departments, all of which appear to be…
A: a. Calculating Gross Profit PercentageGross profit percentage tells us how much of each dollar of…
Q: need answeeer
A: Question 1: 1. Advantage- A shareholder (owner) has no right to control the management or policy…
Q: Record the general journal entries that would be made to record the transactions. DATE TRANSACTIONS…
A: General Journal Entries: These are the records of financial transactions in the accounting system.…
Q: None
A: Product costs are costs that form part of the cost of inventory (inventoriable cost) which is…
Q: Hi expart give correct solution
A: Step 1: Introduction to the Job Order Costing SystemJob order costing system is followed by those…
Q: not use ai please
A: Step 1: Direct materials used Direct materials used = Materials, beginning + Purchases - Materials,…
Q: not use ai please
A: To determine FRC's pension expense for the year, we need to sum up the components that contribute to…
Q: A1 Supply Company purchased equipment for $45,000, paying cash of $5,000 and signing a note payable…
A: To record the purchase of equipment partially paid in cash and signed notes payable for the…
Q: Acorn Contruction ( calender - year - end C Corporation ) has had rapid expansion during the last…
A: To maximize Acorn Construction's cost recovery deduction for the current year using MACRS (Modified…
Q: BBR issued $600 of 7% bonds, due in 10 years. The bonds were issued for $559.20 (an effective…
A: 1. Bond Issuance ExplanationKey points to consider:The company (BBR) issued bonds with a face value…
Q: None
A: Detailed explanation: Question a)In the table, the "Debit" column increases assets, the "Credit"…
Q: not use ai please
A: Hello student! Job Order Costing is a product/job costing system that allocates the costs on a…
Q: Shrewsbury Technologies, which manufactures high-technology instruments for spacecraft, is…
A: 1) First, we need to understand the pattern in the given data. It appears that the time required to…
Q: None
A: To determine Ryan's tax liability for 2023, we need to refer to the IRS tax rate schedules for…
Q: Debit and Credit Effect on Transactions Jefferson Framers engaged in the following transactions…
A: Journal Entries for Jefferson Framers' Transactions:Purchased land for $64,200 cash:Debit: Land…
Q: View Policies Current Attempt in Progress During its first year of operations, Coronado Corporation…
A: For each transaction, we need to calculate the total value of shares issued. This is done by…
Q: All the accounts have normal balances. The information below has been gathered at December 31, 2027.…
A: Below are the adjusting entries for each of the items described. Each entry includes the debit and…
Q: None
A: Computation of return on total assets by using the following formula:Resultant values:
Q: Give true solution
A:
Q: None
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Don't use ai i will report you answer solve it as soon as possible with proper explanation
A: Detailed explanation:Cash paid for the assets acquired, $ 300,000Assets acquiredBook ValueFair…
Q: Sunland Corporation earned net income of $363,460 in 2025 and had 100,000 shares of common stock…
A: Step 1: Introduction to earnings per shareEarnings per share (EPS) is a financial metric that…
Q: Don't use AI
A: In the accounting scenario presented, Acme Company has acquired all assets and liabilities of Brem…
Q: William and Jeff corporations year-end 2009 balance sheet lists current assets of $252,000, fixed…
A: Step 1: Step 2: Step 3: Step 4:
Q: None
A: To calculate the 3-year bond rate, we can use the expectations hypothesis of the term structure of…
Q: Don't use AI
A: Oliver's Net Income:Oliver reported net income for the year of $350,600.Dividends Paid:Oliver…
Q: Shakti Company budgets overhead cost of $72,000 for the year. The company reports the following for…
A: Step 1: Plantwide overhead rate Plantwide overhead rate = Budgeted overhead costs/Estimated direct…
Q: Budget PreparationCollins Company is preparing its master budget for April. Use the given estimates…
A: To calculate total sales revenue, we multiply the number of units sold by the selling price per…
Q: None
A: Step 1: Define Highest CostThe highest price for manufacturing an item or service is called the…
Q: None
A: Step 1:Bond DetailsFace Amount: $201 millionCoupon Rate: 10% (annual)Market Yield: 12%…
Q: [20 Marks] GreenEnergy Solutions, a renewable energy company, is evaluating a proposed joint venture…
A: Detailed Answer & Explanation:Evaluation of the Joint Venture between GreenEnergy Solutions and…
Q: Help please. I dont know what I am doing wrong
A: Step 1: FIFO The inventory to be sold first will start from the oldest purchase.FIFO Cost of goods…
Q: How would each of these transactions affect the accounting equation?1) Purchasing £800 worth of…
A: The basic accounting equation is Assets=Liabilities+Owner's Equity. This equation must always be in…
Q: solve all given prob
A: 1.a. Cash OutflowProfitabilityExpected cash…
Q: llh
A: Step 1:Notes receivable is the current assets which accepted in business when the goods are sold on…
Q: Joshua borrowed $2,500 for one year and paid $150 in interest. The bank charged him a service charge…
A: If you have any help please let me know in comment box thankyou.
Q: Question:45 Before issuing a report on the compilation of financial statements of a nonpublic…
A: QUESTION 45When issuing a report on the compilation of financial statements for a nonpublic entity,…
Q: Equivalent Units of Conversion Costs The Rolling Department of Oak Ridge Steel Company had 3,969…
A: Step 1: Please see above. Step 2: Step 3: Step 4:
Q: Victory Company uses weighted average process costing. The company has two production processes.…
A: Step 1: Calculate Total Units to Account ForStep 2: Calculate Units Accounted ForStep 3: Calculate…
Q: Nakamura, Incorporated, has a total debt ratio of .63, total debt of $323,000, and net income of…
A: Total Debt given =$323,000Total Debt Ratio=Total Debt/Total Assets0.63=$323,000/Total Assets Total…
Q: The 2022 balance sheet of Fast Auto Manufacturers, showed $1.4 million in long-term debt, $470,000…
A: OCF = Cash Flow from Assets + ΔNWC + Net Capital SpendingWhere:Cash Flow from Assets is the sum of…
Q: QUESTION 6 Utilizing the information from the previous question please match the following:…
A: Here's how I approached the question, step by step:1. Identifying the Ratio CategoriesThe question…
Q: > A Blackboard Learn A My Grades - ACCT-1170-017-F X | + 1 U CA k 个 N = X myCT…
A: Step 1: Overhead allocated Overhead allocated = (Estimated overhead/Estimated direct labor hours) x…
Q: None
A: Part 1: X Co. Liquidation Gain or Loss for ELet's address the first part of the question: the gain…
Q: Solve this problem
A: To calculate the net income required to achieve a return on equity (ROE) of 13.5%, we can use the…
Q: Damaged clothing from Help Save & Exit Submit…
A: Step 1: The Balance Sheet Equation is also known as accounting equation. The Balance Sheet Equation…
What is the amount of current liabilities?
Step by step
Solved in 2 steps
- provide correct answer. sub. general account.The current ratio of a company is 8:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $633,000, what is the amount of current liabilities?(accounting Problem)What is the amount of current liabilities on these general accounting question?
- What is the amount of current liabilities on these general accounting question?Answer each of the questions in the following unrelated situations.(a) The current ratio of a company is 6:1 and its acid-test ratio is 1:1. If the inventories and prepaid items amount to $548,000, what is the amount of current liabilities?If a company computes its current ratio to be 3.56, what does this mean interms of the company’s current assets and current liabilities?
- Compute the current ratio and acid-test ratio for each of the following separate cases. (Round ratios to two decimals.) Which company situation is in the best position to meet short-term obligations? Explain.c) A company has current assets of $92,000 (of which $37,000 is inventory and prepaid items) and current liabilities of $37,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be? (Round answers to 2 decimal places, e.g. 2.50.) Current Ratio enter the ratio rounded to 2 decimal places :1 Acid Test Ratio enter the ratio rounded to 2 decimal places :1 New Current Ratio enter the ratio rounded to 2 decimal places :1 New Acid Test Ratio enter the ratio rounded to 2 decimal placesAnswer the following requirements
- Answer? ? Financial accountinga company has current assets of $87,000 (of which $43,000 is inventory and prepaid items) and current liabilities of $43,000. What is the current ratio? What is the acid-test ratio? If the company borrows $14,000 cash from a bank on a 120-day loan, what will its current ratio be? What will the acid-test ratio be? Current Ratio enter the ratio rounded to 2 decimal places :1 Acid Test Ratio enter the ratio rounded to 2 decimal places :1 New Current Ratio enter the ratio rounded to 2 decimal places :1 New Acid Test Ratio enter the ratio rounded to 2 decimal places :1Fill in the blanks: If the liabilities of the business amount to P120,000 and its residual interest amounts to P195,000, then is the amount of the economic resources of the business. ( Previous Continue >