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A company has cash, $85,000; temporary investments, $30,000; net receivables, $60,000; and inventory, $350,000. Current liabilities are $300,000. The current ratio is a. 0.58 to 1. b. 0.74 to 1. c. 1.75 to 1. d. 1.86 to 1
Exchange rates relative to the transaction
how are changes in the fair value of an option accounted for in a cash flow hedge? in a fair value hedge?
Prepare an adjusted trial balance , prepare closing entries and post.
What adjusting entry should Fortune make to account for the work performed from October 1 through December 31, 2009?
Discuss the U.S. tax consequences of each of the above items of income. Also, indicate how your answers would change if Harry held a green card.
What were the limitations of the audit proceedures regarding management assertion of existence in the zzz best case?
Use the book value method to record the conversion of $9 million of bonds into common stock with a $10 par value if conversion occurred when the market price of the common was $24 per share, and total convertible debt outstanding amounted to $36 m..
Cheap Toys sells merchandise to the general public for cash or credit. It accepts several major credit cards. The company pays an average fee of 4% of sales to the credit card companies and 6% to the State of Florida in sales taxes.
prepare an income statement showing revenues, expenses, pretax income, income tax expense, and net income for the year ended december 31,2012.
Prepare Nguyen Corporation's income statement for 2011, including earnings per share, assuming a weighted average of 100,000 shares of common stock outstanding for 2011.
The current carrying value of Pierce's $600,000 face value bonds is $597,750. If the bonds are retired at 102, what would be the amount Pierce would pay its bondholders?
What was the correct cash balance at May 31, assuming the bookkeeper reported a balance of $12,475 after posting all 50 entries?
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