Company's balance sheet showed Cash (100,000), Accounts Receivables (80,000), Short-term investments (90,000), Inventory (15,000) with Unearned income of 75,000. What is (in percent) the quick Ratio using the given data?

Q: Sophie Gowna, 47 years old, works for an Ontario company with a Bi-weekly pay cycle. She earns $18.5…

A: Payroll Process It is important for the business entity to manage the payroll process of the…

Q: Bellingham Company produces a product that requires 3 standard direct labor hours per unit at a…

A: Variance analysis is the analysis between standard and actual results to mainly find out the reason…

Q: Agricultural assets are examples of PP&E (Property, Plant, and Equipment) Select one: True False

A: Agricultural assets are assets used in agriculture or farming. The concept asked in question is…

Q: How is total compensation calculated? O a. salary + bonus - fringe benefits Ob. salary OC. salary+…

A: Compensation: Compensation of workers is defined as the entire amount of payment, whether in cash or…

Q: If the unearned interest is credited in the adjusting entry, which of the following will be…

A: An Unearned interest refers to an interest income collected by a lending institution before they…

Q: Which of the following statements is CORRECT? Select one: a. Stock splits create more administrative…

A: Stock Split- In a stock split, existing shares split but the underlying cost remains the same. As…

Q: John Fleming, chief administrator for Valley View Hospital, is concerned about the costs for tests…

A: The question is based on the concept of Cost Accounting.

Q: The cost of direct materials transferred into the Rolling Department of Kraus Company is $393,600.…

A: The actual objects that are constructed into a product are referred to as direct materials. A…

Q: Xylophone Pty Ltd is a private company with a number of shareholders who are all founders of the…

A: given   Xylophone Pty Ltd is a private company with a number of shareholders who are all founders of…

Q: The following transactions entered into by XYZ Ltd for the year ended 31 December 2017:  1. R18 000…

A: Journal- Journalizing is the process by which businesses record their transactions in an orderly…

Q: Sunland is considering the purchase of equipment costing $147000. The equipment has a 12- year…

A: The Accounting Rate of Return (ARR) seems to be the projected percentage rate of return on an…

Q: rovide another example of a cost center and explain why you choose that example.

A: Cost center is a department or function within an organization that does not directly add to profit…

Q: The following is the Trial Balance of ABC Services for the MONTH OF DECEMBER, 2022. Debit Credit…

A: Adjusting entries are made to provide a more accurate view of business performance at the end of the…

Q: Feldpausch Corporation has provided the following data from its activity-based costing system:…

A: Net income: Net income can be ascertained from the statement of profit or loss when the charges are…

Q: You have been asked to help prepare the financial statements of Cee Jee trading co. for the year…

A: Profit or loss account is the summary showing cost and revenues where, the former is reduced from…

Q: Question 24 Based on the following post-diasing trial balance of Rigodon Corporation on June 30, the…

A: The question is related to calculation of Net Profit for the period.

Q: _7. To avoid fraud, it is recommended to check the Philippine Stock Exchange (PSE) to see if a…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: A device costs $20,000. After 7 years, it is expected to be worth $6,000. Using the SL method, find…

A: Given cost of asset = $20,000 Salvage value = $6,000 Life of asset = 7 years

Q: P Co. issued 6,000 shares of its common stock, valued at $300,000, to the former shareholders of S…

A: Basic accounting concept  of issue of shares

Q: Lina Company purchased equipment on January 1, 2022 for P5,000,000. The equipment had a useful life…

A: Solution...     Depreciation rate using double Declining method  = 200% ÷ life  = 200% ÷ 5  = 40%…

Q: Kevin is planning for his retirement this year. One option that has been presented to him is the…

A: An annuity seems to be a financial instrument that pays out fixed amounts of money at regular…

Q: Compute the PI statistic for Project Z if the appropriate cost of capital is 8 percent. (Do not…

A: The profitability index (PI) is used as a measure for ascertaining the attractiveness of an…

Q: During the current year, Dimasalang Company had the following transactions pertaining to the new…

A: The balance sheet shows the financial position of the company including the assets, liabilities, and…

Q: Benson Airline Company is considering expanding its territory. The company has the opportunity to…

A: Payback period is the time taken by an investment to recover the investment amount paid on an…

Q: What is the percent change from $499 to $299? 67% 16% 40% None of the above

A: The percentage change is calculated as change in value divided by original value

Q: If the value implied by the purchase price of an acquired company exceeds the fair values of…

A: Business combination between companies may result in profit or loss which are generally referred…

Q: Compute the discounted payback statistic for Project C if the appropriate cost of capital is 8…

A: The question is based on the concept of Financial Management. Discounted payback period is the term…

Q: When the manager has the responsibility and authority to make decisions that affect costs and…

A: In a profit center a manager is responsible for both revenue and costs.

Q: usty Krab Inc. started business on January 1, 2022. Record the required journal entry (F-I) or…

A: Basic Accounting Concept Journal Entries

Q: two types of operational responsibility

A: Operational responsibility is the responsibility of the managers to make sure that the operation…

Q: Prince Rupert company manufactures product A. B, C and D. Data for the year ended Dec 31, 2021, is…

A:

Q: Hodge Co. owns 90 percent of the voting common shares of Bison Co. During 2022, Hodge had sales of…

A: Introduction Intercompany upstream sale of inventory occurs, the effect of this transaction is…

Q: Acquisition is the purchase of all or a portion of a corporate asset or target company.

A: The company that acquires the asset or shares of the company is called the parent company. Whereas,…

Q: provide the income statement and the balance sheet

A: The income statement is one of the financial statements which shows the financial performance of the…

Q: Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been…

A: 1 a) Calculate the material price variance using the formula below: Material price variance =…

Q: Schylar Pharmaceuticals, Inc., plans to sell 130,000 units of antibiotic at an average price of $22…

A: A company's contribution margin ratio (CM ratio) seems to be equal to revenue minus all variable…

Q: Which of the following is a red flag of inventory theft: an increase in uncollectible sales an…

A: Inventory theft is defined as the extra amount of inventory stated in accounting records but no…

Q: Which of the following budgets are prepared before the sales budget? Budgeted

A: First of all we prepare sales budget. After preparation of sales budget all other matters are…

Q: Describe the structure of a bank accepted bill/ bank endorsed bill/bill of exchange. In your…

A: Answer:-  Bill of exchange definition:- A bill of exchange can be defined as a written order that…

Q: For amazon: 1. How could the organization create more value for its stakeholders? 2. Which of the…

A: Here discuss about the strategies and planning which are adopted by the Amazon to create more values…

Q: 5) Budgeted costs are:   A) the costs incurred this year C) predicted or forecasted costs   B)…

A: The cost which is incurred this year is called current cost. The cost which is incurred last year is…

Q: Illustrative Problem 1: Mr. Jackson Mob.opened his business, "LabanderaMOb" Laundry service in the…

A: Date Account Titles and Explanation  Debit   Credit  Jan'8 Cash        40,000     Equipment…

Q: 707'7s

A: Depletion  is like depreciation of an asset.  Here the depletion…

Q: What will be the firm’s operating cycle?

A: The operating cycle of the firm is 365.89 days.

Q: Which of the following should you be verified with the issuing institution? educational degrees…

A: The question is related to verification by Issuing institutions.

Q: Meester Corporation has an activity-based costing system with three activity cost pools--Machining,…

A: The assignment of indirect expenses to manufactured commodities is known as overhead allocation. It…

Q: On October 1, 2019, Alharam sold and delivered 3 doors to a builder for $40,000. The builder plans…

A: Notes are the secured instruments which are used to pay for a transaction. It includes payment of…

Q: ABC had P400,000 budgeted fixed overhead costs and based its standard on normal activity of 40,000…

A: Overhead rate = P400,000 / 40,000 units Overhead rate = P10 per unit

Q: The following are budgeted data: January February March 15,000 20,000 18,000 18,000 19,000 16,000…

A: This question requires us to calculate Budgeted Purchases of Raw Materials for February month, the…

Q: During the first year of Wilkinson Co.'s operations, all purchases were recorded as assets. Supplies…

A: Formula: Supplies expense = Beginning supplies + Supplies purchased - Ending supplies