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Water works Inc has a current ratio of 1.33, current liabilities of 540,000 and inventory of 400,000. What is water works quick ratio
1. 1.11
2. 0.86
3. 1.90
4. 0.5
Prepare the journal entries to record the November 17, 2011 (ignore cost of goods) and collection on November 26, 2011, assuming that the gross method of accounting for cash discounts is used.
Does warranty accrual decision create any ethical dilemma for Bly and since warranty expenses vary, what % do you think Bly could select for the current year? Justify your response.
Prepare journal entries to record the following transactions entered into by Harper Company:
Distinguish between discretionary and committed fixed costs.
Assume that actual cash inflows turn out to be $91,000 per year. Determine the amount of Mr. Holt's bonus if the original computation of net present value were based on $90,000 versus $70,000.
Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
Generally, tax strategies operate in two time frames - now and later. " Now" refers to the twelve months of the current tax year. "Later" refers to the long-range tax strategies that benefit taxpayer future.
Assume that the brand manager forecasts upcoming sales of SUSI to be 150,000 units, and that there are 35,000 units of SUSI in inventory
A business pays weekly salaries of $15,000 on Friday for a 5-day week ending on day. The adjusting entry require at the end of fiscal period ending on Thursday is;
Explain why the quantity purchased is used in computing the direct materials price variance, but the actual quantity consumed is used in computing the direct materials quantity variance.
Indicate how each of the following six different transactions that Dynamic Mattress might make would affect (i) cash and (ii) net working capital:
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