Current Ratio : Current ratio is the ratio of current assets with current liabilities it tells about the capability of a company to meet its daily expenses. Best current ratio is 2:1. Quick Ratio: Quick ratio is the ratio of quick assets with current liabilities, it tells about the liquidity of the company/ business. Best possible quick ratio is 1:1. Requirement-1: To Calculate: Current ratio and quick ratio.
Current Ratio : Current ratio is the ratio of current assets with current liabilities it tells about the capability of a company to meet its daily expenses. Best current ratio is 2:1. Quick Ratio: Quick ratio is the ratio of quick assets with current liabilities, it tells about the liquidity of the company/ business. Best possible quick ratio is 1:1. Requirement-1: To Calculate: Current ratio and quick ratio.
Solution Summary: The author explains Current Ratio: Current ratio is the ratio of current assets with current liabilities, it tells about the ability of a company to meet its daily expenses.
Current Ratio: Current ratio is the ratio of current assets with current liabilities it tells about the capability of a company to meet its daily expenses. Best current ratio is 2:1.
Quick Ratio: Quick ratio is the ratio of quick assets with current liabilities, it tells about the liquidity of the company/ business. Best possible quick ratio is 1:1.
Requirement-1:
To Calculate:
Current ratio and quick ratio.
To determine
Concept Introduction:
Current Ratio: Current ratio is the ratio of current assets with current liabilities it tells about the how much company strong to meet its day to day expenses. Best current ratio is 2:1.
Quick Ratio: Quick ratio is the ratio of quick assets with current liabilities it tells about the liquidity of the company/ business. Best possible quick ratio is 1:1.
Sp25 ACCT X CengageNOWv2 | Online teaching X
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FIFO perpetual inventory
The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are
Number
Date Transaction
of Units
Per Unit
Total
Apr. 3 Inventory
25
$1,200
$30,000
8 Purchase
75
1,240
93,000
11 Sale
40
2,000
80,000
30 Sale
30
2,000
60,000
May 8 Purchase
60
1,260
75,600
10 Sale
50
2,000
100,000
19 Sale
20
2,000
40,000
<
28 Purchase
80
1,260
100,800
June 5 Sale
40
2,250
90,000
16 Sale
25
2,250
56,250
21 Purchase
35
1,264
44,240
28 Sale
44
2,250
99,000
Required:
1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illust
first-in, first-out method. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER un
Check My Work 3 more Check My Work uses remaining
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PLEASE HELP! NOTICE. THERE ARE FIVE CELLS ON THE LEFT SIDE TO FILL. THE DROPDOWN SHOWS THE OPTIONS FOR THESE CELLS.
Calm Ltd has the following data relating tò two investment projects, only one of which mayb e s e l e c t e d :The cost of capital is 10 per cent, and depreciation is calculated using straight line method.a . Calculate for each of the project:i. Average annual accounting rate of return on average capital investedi i . Net Present Valuei l l . I n t e r n a l R a t e o f Returnb. Discuss the relative merits of the methods of evaluation mentioned above in (a).Q.4a . In the context of process costing, discuss the following concepts briefly, i . Equivalent unitsNormal lossill. Abnormal lossi v. Joint productsV . By productsb . Discuss the different types of standard costing and objectives of standard costing.