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Show all computations for each problem. 1. The current ratio of a company is 4 and its quick ratio is 1. If the inventory amount to $450,000, what is the amount of current liabilities? 2. A company has current assets of $80,000 (of which $30,000 is inventory) and current liabilities of $20,000. a. What is the current ratio? b. What is the quick ratio? c. If the company borrows $10,000 cash for a bank on a 120-day loan, what will its current ratio be? What will the quick ratio be? 3. Franklin Bedding, Inc. has assets of $400,000 and turns over its assets 1.5 times per year. Return on assets is 12 percent. What is its profit margin (return on sales)?
Would it be possible for calcor company to achieve the first two of Kuhn’s goals without achieving his third goal of a 30% return on average assets before interest and taxes? Explain
Find Gregson ending inventory using absorption costing and evaluate Gregson ending inventory using variable costing?
On December 31, Hack reported a net loss of $6 million for the year. What amount of loss should Sox report on its income statement for 2011 relative to its investment in Hack?
What is the value-added ratio? Round to nearest whole percent.
Cleveland Co. did not have to also give him the car, and did it just out of admiration for Barnie doing such a great job. Is this income to Barnie as compensation, or a nontaxable gift?
Prepare the entry at 12/31/06 necessary to implement the lower-of-cost-or-market procedure assuming Smith uses a contra account for its balance sheet. How are inventory losses disclosed on the income statement?
After Ed's death, his former employer paid Ed's widow $12,000 in "her time of need." Ed's widow also collect $25,000 on a group term insurance policy paid for by Ed's employer. Illustrate what are Ed's and his widow's gross income?
Prepare adjusting entry for this company to recognize bad debts under each of the following independent asumptions. Bad debts are estimated to be 2% of credit sales.
Prepare a trial balance on April 30, 2008 and Tot. trial balance $8,254 - Merchandise Accounting
how many units of Product X must be purchased from the supplier during the month and Multiple choice questions on CVP Analysis.
Evaluate the amount of depreciation expense recognized in Year 2, Year 3, and Year 4 under (a) the revaluation model of IAS 16 and (b) U.S. GAAP. Evaluate the book value of the building under the two different sets of accounting rules at 2 nd Janu..
Erroneously recorded and accounts payable and Prepare bank reconciliation as of 31 Oct from
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