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Evans, Inc., had current liabilities at November 30 of $137,400. The firm's current ratio at that date was 1.8. Required: (a) Calculate the firm's current assets and working capital at November 30. (Omit the "$" sign in your response.) Current assets: $ Working capital: $ (b) Assume that management paid $30,600 of accounts payable on November 29. Calculate the current ratio and working capital at November 30 as if the November 29 payment had not been made. (Round your current ratio answer to two decimal places. Omit the "$" sign in your response.) Working capital: $ Current ratio: (c) Indicate the changes, if any, to working capital and the current ratio that would be caused by the November 29 payment. Working capital: not affected/increased/decreased Current ratio: increased/decreased/not affected
Under the terms of his salary agreement, president Juan Rivera has an option of receiving either an immediate bonus of $40,000, or a deferred bonus of $75,000 payable in 10 years.
destin deals estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various
prairie fire snowmobile corp. manufactures and sells snowmobiles in wisconsin minnesota and the dakotas. a publicly
dogs for diabetes dfd is a not-for-profit organization focused on training dogs and handlers to assist young children
tom and gail form owl corporation with the following considerationconsideration transferredbasis to transferorfair
Mix Recording Studios purchased $7,800 in electronic components from TechCom. Mix Recording Studios signed a 60-day, 10% promissory note for $7,800. If the note is dishonored, what is the amount due on the note?
How much amortization expense will be on the consolidated financial statements for the year ended on December 31, 2009 related to the acquisition of Green?
Identify the above costs as variable, fixed, or mixed and calculate the expected costs when production is 5,000 units.
u are a fresh accounting graduate. you have landed a job with a big 3 accounting firm. the first day at your job your
The cash selling price of the equipment is $5,174,552, which is equal to the present value of the lease payments at 8%. Marshall purchased the equipment for $4,300,000.For 2011, Marshall should report interest revenue of ?
Sales Returns and Allowances $3,000; Freight-out $1,000; and Purchase Returns and Allowances $2,000.The ending merchandise inventory is $25,000. Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).
On July 1, 2002, Big acquires 100% of Little. Both companies have a fiscal year end of 12/31/02. At 12/31/02, how much of the fair market value adjustment associated with inventory should be amortized?
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