Answer:
The most commonly used base item for a common size balance sheet is:
Total assets.
Explanation:
The use of the total assets as an analytical base is because they are always equal to the two sides of the balance sheet in accordance with the accounting equation. This equation states that the Assets = Liabilities and Shareholders' Equity. A company can gain proper and good understanding of its performance by performing some financial analyses. Examples include comparative analysis (external-focused), trend analysis (internal-focused), and common size analysis (financial statement-focused).
Studying products for similarities or differences is known as ______ shopping.
-Marginal
-Comparison
-Emotional
-Research
It's a form of research to look at products from different websites, but comparison means when you are comparing two things.
My answer would be B. Comparison
Studying products for similarities or differences is known as Comparison shopping. Option B. This is further explained below.
What is Comparison shopping.?Generally, Comparison shopping is simply a typical technique in which buyers check the prices of various things from several stores before making a purchasing choice.
In conclusion, Comparison shopping is the process of examining things for similarities and differences.
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QUESTION 2 of 10: Three smoothie shops exist in your town with annual sales of $300,000; $344,000; and $412,000. What is the average of their sales?
Answer:
352,000
Explanation:
add up all the numbers, then you divide by 3
The average of the three smoothie shop sales is $352,000.
What are sales?A sale is a transaction between two or more parties with respect to a particular product or a service. the payment can be done in cash, digital form, or a barter system. sales can be found out with the help of cost price and profit or loss incurred on selling the product or rendering service.
The annual sale of the first smoothie shop is $300,000
The annual sale of the second smoothie shop is $344,000
The annual sale of a third smoothie shop is $412,000
The average sale of smoothie shop = total of sales/ number of shops
= (300,00 + 344,000 + 412,000) / 3
=$352,000
Therefore, the average sales of the three shops are $352,000.
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Pick one of the three policies to address pollution that are listed below (these are covered in chapter 15, section 15.3) and describe why you believe it to be the best way to curb climate change. Your choices are:
1. Command and control
2. Pollution taxes
3. Cap and trade You must pick one and you must defend it as the best option.
Answer:
The correct option is the first one: Command and control.
Explanation:
To begin with, all three matters are necessary in order to try to achieve a reduction in the pollution of the planet. However, I do believe that the most important one tend to be the command and control focus due to the fact that the other three will also depend on that matter as well primarily.
So, it is necessary to understand that the "Command and Control" theme refers to the intervention of the government in matters of pollution when it comes to try to protect the environment by regulating the forces of the industry who on purposely damage their work surronding without care. Moreover, this point of view also focus on the control that the laws and regulations have on those companies so that will impact them directly to the way they act.
On January 1, 2020, Grand Haven, Inc., reports net assets of $862,150 although equipment (with a four-year remaining life) having a book value of $484,000 is worth $551,750 and an unrecorded patent is valued at $45,000. Van Buren Corporation pays $779,920 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021
Answer:
$35,000
Explanation:
Calculation for what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021.
Unrecorded patent is valued at $45,000
Less Amortization for 2 years (9 years remaining life) ($10,000)
(45,000/9 years*2)
Patent reported $35,000
($45,000-$10,000)
Therefore the amount of patent that should be reported on Van Buren's consolidated balance sheet at December 31, 2021 is $35,000
Prepare three income statements for the year assuming that revenue is to be recognized when:_________.
1. Crocodiles have been caught (i.e. production complete).
2. Crocodiles have been sold and delivered
3. Cash collections are complete
Answer:
3
Explanation:
The right answer is "cash collections are complete"
Revenue can only be recognized when the amount of earning of whole year completes basically it's the total amount of money which is earned by the customer and income is the profit which can be calculated by subtracting the revenue and what remains after the expenses.
A toy manufacturer has just learned that the small, button nose on the stuffed teddy bear it produces might detach and become a choking hazard young children. If this company is using a defensive strategy, it might:___________.
a) recall the stuffed bears, offer a refund to all customers, and redesign the bear to have a felt nose.
b) issue a statement apologizing for the choking hazard and recall the stuffed bears.
c) daim that if parents put the bear in the washing machine, the button stitching will come loose, causing it to detach. As a result, parents should not put the bear in the washing machine.
d) create a set of industry-wide guidelines to help prevent choking hazards on toys for children. It pay to be socially responsible
Answer:
The correct answer option is B
Explanation:
The company would issue a statement apologizing for the choking hazard and recall the stuffed bears.
A defense strategy is one in which the toy manufacturing company accepts responsibility for a problem, even though they would do the least required to meet societal expectations.
The toy manufacturer might issue a statement apologizing for the choking hazard and recall the stuffed bears. In this case the company has accepted responsibility and done the least required to meet societal expectations.
The Reverend Petros receives an annual salary of 51,000 as full-time minister this includes 5000 designated as a rental allowance River and Pedro is not exempt from employment tax how much must he include figuring that income for self-employed tax
If the Reverend Petros receives an annual salary of 51,000 as full-time minister that includes 5000 designated as a rental allowance. The amount that must be include figuring that income for self-employed tax is : $51,000.
What is annual salary?Annual salary can be defined as the amount a person earn as salary per year.
On the other hand self employed tax can be defined as the tax a person that is solely working for his/her self without working for any other person remit to the government.
Therefore the amount that must be include figuring that income for self-employed tax is the amount of $51,000.
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You are the Finance Executive, and you are required to reply by email to Holly for her queries on the advantages and disadvantages of ABC to set the costs of the "Storage & Store on the Go". You also need to propose to Holly, whether ABC, marginal cost plus approach or the full cost plus approach is more suitable.
Answer:
different between isoquant and isocost
For a Windows laptop, what is the best way to save power when the computer will not be used for an extended period?
A. Sleep the system
B. Turn off by power button
C. Use battery power
D. Hibernate the system
Answer:
b turn off by power button
a. Equipment with a book value of $79500 and an original cost of $169000 was sold at a loss of $33000.
b. Paid $106000 cash for a new truck.
c. Sold land costing $310000 for $420000 cash yielding a gainof $11000.
d. Long term investments in stock were sold for $95600 cash yielding a gain of $17000.
Required:
Use the above information to determine this company's cash flows from investing activities.
Answer:
Cash flow from Investing activities refers to cash transactions related to Fixed Assets as well as transactions related to the ownership of other company securities.
Cash-flow from Investing Activities
Sale of equipment (79,500 - 33,000).......................... $46,500
Purchase of New Truck ................................................... ($106,000)
Sale of Land.........................................................................$420,000
Sale of Long-term investments.......................................$95,600
Net cash provided by investing activities ...................$456,100
The consumer price index is meant to measure prices of goods and services due to _______.
A. None of these.
B. The relationship between aggregate demand and aggregate supply.
C. The effect inflation has on prices in comparison to a base year.
D. The forces that compel companies to raise prices.
Please answer it correctly and asap
Answer:
the answer is option B. nice to be of to u by the way am gracey
purchase goods worth rs 20000 from Shyam on credit and paid 50% in cash
Answer:
Purchases a/c dr 20000
To cash a/c 15000
To Ram's a/c 5000
Magnificent Blooms is a florist specializing in floral arrangements for weddings, bo graduations, and other events. Magnificent Blooms has a fixed cost associated with space and equipment of $100 per day. Each worker is paid $50 per day. The daily production § function for Magnificent Blooms is shown in the accompanying table. © Macmil Submit All Quantity of labor (workers) 0 1 2 3 4 5 a. Calculate the marginal product of each worker. Quantity of floral arrangements 0 5 9 12 14 15 Marginal product Quantity of labor (workers) 1 2
The marginal product of each worker for Magnificent Blooms is as follows: Worker 0: N/A: Worker 1: 5: Worker 2: 4: Worker 3: 3: Worker 4: 2: Worker 5: 1
To calculate the marginal product of each worker for Magnificent Blooms, we need to determine the change in the quantity of floral arrangements resulting from each additional worker.
Here's how to calculate the marginal product for each worker:
Worker 0: Since there are no workers (0 workers), the quantity of floral arrangements is 0. Therefore, the marginal product for worker 0 cannot be calculated.
Worker 1: The quantity of floral arrangements with 1 worker is 5. To calculate the marginal product for worker 1, we subtract the quantity of floral arrangements with 0 workers from the quantity with 1 worker: 5 - 0 = 5.
Worker 2: The quantity of floral arrangements with 2 workers is 9. To calculate the marginal product for worker 2, we subtract the quantity of floral arrangements with 1 worker from the quantity with 2 workers: 9 - 5 = 4.
Worker 3: The quantity of floral arrangements with 3 workers is 12. To calculate the marginal product for worker 3, we subtract the quantity of floral arrangements with 2 workers from the quantity with 3 workers: 12 - 9 = 3.
Worker 4: The quantity of floral arrangements with 4 workers is 14. To calculate the marginal product for worker 4, we subtract the quantity of floral arrangements with 3 workers from the quantity with 4 workers: 14 - 12 = 2.
Worker 5: The quantity of floral arrangements with 5 workers is 15. To calculate the marginal product for worker 5, we subtract the quantity of floral arrangements with 4 workers from the quantity with 5 workers: 15 - 14 = 1.
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Badgersize Company has the following information for its Forming Department for the month of August.
Work in Process Inventory, August 1: 20,000 units
Direct materials: 100% complete $ 80,000
Conversion: 20% complete 24,000
Balance in work in process, August 1 $ 104,000
Units started during August 49,000
Units completed and transferred in August 60,000
Work in process (70% complete), August 31 ?
Costs charged to Work in Process in AugustDirect materials $140,000Conversion costs:Direct labor $105,000Overhead applied 148,000Total conversion $253,000Assume materials are added at the start of processing.Required:1. Calculate the equivalent units for the Forming Department for the month of August.2. Find the cost per equivalent of input resource.
Answer:
1. Calculate the equivalent units for the Forming Department for the month of August.
direct materials 60,000 unitsconversion 70,000 units2. Find the cost per equivalent of input resource.
direct materials per unit $2.33conversion cost per unit $3.61Explanation:
beginning WIP 20,000 units:
direct materials 100% = 20,000 equivalent units $80,000
conversion 20% = 4,000 equivalent units $24,000
total $104,000
Units completed and transferred 60,000
Ending WIP = 20,000:
direct materials 100%
conversion costs 70% = 14,000 equivalent units
costs charged:
Direct materials $140,000
Direct labor $105,000
Overhead applied 148,000
equivalent units:
direct materials 60,000 since all materials are added at the beginning
conversion = units started + ending WIP - beginning WIP = 60,000 + 14,000 - 4,000 = 70,000 units
direct materials per unit = total direct materials / equivalent units = $140,000 / 60,000 = $2.33
conversion costs per unit = total conversion costs / equivalent units = $253,000 / 70,000 = $3.61
Even taxpayers that would not
normally
need to file a tax return, should file
one?
Even taxpayers that would not normally need to file a tax return, should file one in order to claim a refund of taxes paid.
If suppose a taxpayers income does not exceed a certain amount, then he or she may not be required to file a tax return. However, if a taxpayer paid the taxes during the year, then he or she would thus need in order to file a return in order to claim and receive a required refund.
Here, taxpayers may not need to file a return based upon his or her income, but somehow it might be beneficial in certain situations in order to file it anyway. Thus, although one might not be required to file a tax return, but it might be wise to file one anyway.
Hence, it is important to file a tax return.
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What are the three components of the BI Ecosystem?
A. Data
B. Intelligence creation
C. Information Management
D. Innovation
Help ASAP
Applying the conept of "Thinking at Margin" which of the following statements are relevant for a TV manufacturer to make a decision:
the average revenue of a television is $114.55
the average cost of 10 televisions is $100 each, while the 11th one requires the hiring of an extra truck for deliveries at $50
the total cost of a television is $1104.55
the average cost of a television is $104.55
Applying the concept of "Thinking at Margin", the relevant statement for a TV manufacturer to make a decision is: the average cost of 10 televisions is $100 each. Option C. This is further explained below.
What is Thinking at Margin?Generally, It implies giving some thought to the next move you will take. "extra" is the meaning of the term "marginal." On a hot day, the first glass of lemonade you drink satisfies your thirst, but the subsequent glasses may not have the same effect.
When you ponder at the margin, you are contemplating what the next or subsequent action will entail for you personally.
In conclusion, Using the "Thinking at Margin" methodology, the important statements for a television maker to consider while making a choice are as follows: the typical cost of producing 10 TVs is $100 apiece. Alternative C
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Which advice would best help you protect your personal information?
A. Respond to any email that looks like it originates from a legitimate
company.
B. Only give out personal information to a person who appears to
have knowledge of your bank account transactions.
C. Click on email links sent from your credit card company, but only if
the email looks legitimate.
D. Never provide personal details to someone who claims to be from
your bank; call your bank directly.
Answer:
D
Explanation:
because you will never know who wants to hurt you or still from you u need to make sure by phoning your bank immediately before you will regret it
Answer: D. Never provide personal details to someone who claims to be from
your bank; call your bank directly.
Explanation:
⦁ Give me an example of how you have demonstrated safe work practices.
An example of safe work practices is cleaning and maintaining equipment and tools.
Safe work procedures are instructions on how to execute work in a safe manner and are essential for all hazardous jobs performed at your business. They identify dangers and explain what has to be done to remove or reduce risks.
Cleaning and maintaining equipment and tools properly can help to avoid accidents and injuries, as well as costly repairs. One method is to keep a cleaning and maintenance routine. Make a record of all equipment in use, noting important areas that require inspection.
Therefore, maintenance of equipment is how we can demonstrate safe work practices.
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Equipment and tool maintenance and cleaning are two examples of safe work practices.
All hazardous operations carried out at your company must follow safe work procedures, which are guidelines for how to carry out work in a safe manner. They point out risks and describe what has to be done to eliminate or lessen them.
Proper equipment and tool maintenance can reduce the risk of accidents, injuries, and expensive repairs. Maintaining a cleaning and maintenance schedule is one strategy. Make a list of all the equipment that is in use, noting any crucial locations that need inspection.
As a result, maintaining the equipment is how we can show safe working practices.
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q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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In both market and mix market economies, producers want to
In both market and mix market economies, producers want to public goods. As they were, maintained the private ownership.
What are economies?An economy considers all activities linked to the industry, consumption, and trade of commodities and services in a given entity, whether it be a nation or a small town. No two economic system was the same. Each is unique in terms of assets.
As, the term mixed economy where refers to the private control of most of the means of production, with the government interfering through regulations. Mixed economic system socialize select commercial enterprise.
Therefore, As a result, the public goods are there in the market and mix market economies.
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Which statement best describes an authoritarian style of communication
Answer:
High task-low relationship behavior, initiating a closed presentation
Explanation:
Authoritarian communication style, which is also popularly known as autocratic leadership is a type of communication style in which the leader holds rigid control over the team as he/she is directly responsible for taking decisions, regulating the actions, rules, methodologies. This is a 'high task and low-relationship behavior' communication style and initiates a closed control and presentation of procedures and policies. The expectations are very clear and close supervision of tasks is made by the leader to ensure maximum productivity.
true/false. the hurdles to success are higher and more complex in global markets than in domestic markets. such hurdles include forces, economic and financial forces, (political) legal and regulatory forces, and physical and environmental forces.
True. Success in international markets is more difficult and complicated than in domestic ones. Businesses must overcome a number of obstacles in order to succeed in global marketplaces.
The term "global markets" refers to the networked system of buyers and sellers who engage in worldwide trade. This system makes a wider variety of products and services available to businesses and consumers and promotes stronger competition, which can result in cheaper costs, higher quality, and more innovation. Operating in international markets, however, also has its own set of difficulties, such as diverse legal and regulatory frameworks, fluctuating currency values, and cultural boundaries. Companies must be equipped to overcome these obstacles and devise plans of action that will enable them to successfully compete in international markets if they are to be successful there. This could entail establishing business relationships with regional companies, adjusting to local consumer preferences, and making investments in the infrastructure and technology required to support global operations.
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Để giảm thiểu tỷ lệ thất bại của các sản phẩm hay dịch vụ, các công ty nên
Answer: 12132313 cool
Explanation:
Identify the correct pattern of a compound-complex sentence
Answer:
A complex sentence combines a dependent clause with an independent clause. When the dependent clause is placed before the independent clause, the two clauses are divided by a comma; otherwise, no punctuation is necessary.
Explanation:
:)
Steve would like to invest his money. He can't decide if he should invest in a CD, mutual fund, or a savings account. What should Steve do to help him decide?
A) Ask his friends where they invest their money.
B) Gather reliable information and use PACED.
C) Spend the money.
D) Keep it in his checking account.
PLSS HELP HURRY
The best option for Steve to help him decide which investment option to choose would gather reliable information and use PACED. Therefore, option (B) is correct.
By using PACED, Steve can gather information about each investment option and evaluate them based on factors such as risk, return, fees, and liquidity.
This will help him make an informed decision that aligns with his financial goals and risk tolerance. Relying on opinions of friends, spending the money or keeping it in the checking account without evaluating investment options will not lead to an informed decision.
Thus, option (B) is correct.
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if a co worker asks for help with something but you're busy finishing a task, what should you say? A I have to finish this but I'm happy to help when I'm finished B I can't help you today C I'm busy can you ask someone else
Answer:
A
Explanation:
it shows that you still value the co worker and are still willing to help so its up to them if they wait then that means its something you can do whatever that might be but if said co worker moves on to another for help that means that they couldn't wait or it was something that needed two people, a trivial task.
Question 1 Calculate the selling price that Valmont Company will establish for the XP–200 using absorption cost-plus pricing, considering the absorption unit product cost of $8,400 and a markup percentage of 85%.
Question 2 Determine the economic value to the customer (EVC) over the XP–200's 20,000-hour life. Consider the advantages it offers compared to the competitor's piece of equipment, such as longer usage time, lower preventive maintenance costs, and lower electricity consumption.
Question 3 If Valmont Company decides to use value-based pricing, what range of possible prices should they consider when setting a price for the XP–200? Take into account the economic value provided to the customer and the pricing of the competitor's equipment.
Question 4 Provide advice to Valmont's managers on choosing between absorption cost-plus pricing and value-based pricing. Consider the concerns expressed by the marketing managers and the potential impact on market competitiveness, customer perception, and profitability.
For each question, ask your students to show their calculations, provide explanations, and justify their answers based on the given information and pricing concepts. Encourage them to think critically and consider the implications of different pricing strategies on the company's goals and market position.
1. Valmont Company should establish a selling price of $15,540 for the XP–200 using absorption cost-plus pricing.
2. The advantages mentioned are longer usage time, lower preventive maintenance costs, and lower electricity consumption.
3. If Valmont Company decides to use value-based pricing, they should consider the economic value provided to the customer and the pricing of the competitor's equipment.
4. Choosing between absorption cost-plus pricing and value-based pricing depends on various factors such as market competitiveness, customer perception, and profitability.
1. To calculate the selling price using absorption cost-plus pricing, we need to add a markup percentage to the absorption unit product cost. In this case, the absorption unit product cost is given as $8,400, and the markup percentage is 85%.
Markup = Markup percentage * Absorption unit product cost
Markup = 85% * $8,400
Markup = $7,140
Selling price = Absorption unit product cost + Markup
Selling price = $8,400 + $7,140
Selling price = $15,540
Therefore, Valmont Company should establish a selling price of $15,540 for the XP–200 using absorption cost-plus pricing.
2. To determine the economic value to the customer (EVC) over the XP–200's 20,000-hour life, we need to consider the advantages it offers compared to the competitor's equipment. The advantages mentioned are longer usage time, lower preventive maintenance costs, and lower electricity consumption.
EVC can be calculated by quantifying the monetary value of these advantages over the product's lifespan. Let's assume the following values:
Longer usage time: 5,000 additional hours compared to the competitor's equipment.
Lower preventive maintenance costs: $500 saved annually compared to the competitor's equipment.
Lower electricity consumption: $200 saved annually compared to the competitor's equipment.
EVC = (Additional usage time * Value per hour) + (Annual cost savings * Present value factor)
Using a discount rate of 10% and assuming the annual cost savings remain constant over the 20,000-hour life:
EVC = (5,000 hours * Value per hour) + ($500 * Present value factor) + ($200 * Present value factor) + ... (repeated for all 20 years)
3. If Valmont Company decides to use value-based pricing, they should consider the economic value provided to the customer and the pricing of the competitor's equipment. This involves determining a range of possible prices based on the additional value delivered by the XP–200 compared to the competitor's equipment.
To calculate the range of possible prices, you would need to assess the economic value of the XP–200 as determined in Question 2 and consider the pricing of the competitor's equipment. Without specific values and competitor pricing information, it's not possible to provide a precise range of prices.
However, Valmont Company should set the price within a range that captures a significant portion of the economic value delivered to the customer while remaining competitive in the market.
4. Choosing between absorption cost-plus pricing and value-based pricing depends on various factors such as market competitiveness, customer perception, and profitability. Here are some considerations for Valmont's managers:
Absorption cost-plus pricing:
Pros: This approach ensures that all costs, including fixed and variable costs, are covered. It provides a straightforward calculation for determining the selling price and ensures profitability.
Cons: It does not directly consider the economic value delivered to the customer or the pricing of the competitor's equipment. This approach may not reflect the true value of the XP–200 to customers, potentially leading to pricing that is not aligned with customer expectations or market conditions.
Value-based pricing:
Pros: This approach considers the economic value provided to the customer, allowing the price to be based on the perceived value rather than just the cost. It aligns the price with the customer's willingness to pay and can capture the full value delivered by the XP–200.
Cons: It may be more challenging to quantify and communicate the economic value to customers. Determining the optimal price range requires a thorough understanding of customer preferences, competitor pricing, and market dynamics.
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In which statement(s) is "demand" used correctly?
(I) “An increase in the price of hot dogs will reduce the demand for hot dogs.”
(II) “An increase in the price of hot dogs will reduce the demand for hot dog buns.”
Answer:
its Two
Explanation:
In the given statement "demand" is used correctly in “An increase in the price of hot dogs will reduce the demand for hot dog buns.” The correct option is (ii).
What do you mean by the demand?Demand is the consumer's intention to buy a specific product or service. The demand for a specific good on the market is known as market demand.
The total demand for goods and services in the economy is known as aggregate demand. The price of an item or service is determined by how well supply and demand match.
The law of demand is concerned with how often customers want to buy particular goods and services at particular costs.
Demand can refer to the overall demand for all the goods in an economy or the market demand for a particular good.
The real prices of items and the amount that trades hands in a market are determined by supply and demand.
Therefore, in the given statement "demand" is used correctly in “An increase in the price of hot dogs will reduce the demand for hot dog buns.”
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Highly Suspect Corp. has current liabilities of $450,000, a quick ratio of .89, inventory turnover of 6.5, and a current ratio of 1.7. What is the cost of goods sold for the company
Answer:
See below
Explanation:
First , we will compute current ratio
Current ratio = Current asset / Current liabilities
1.25 = Current ratio / $415,000
Current asset = $415,000 × 1.25
Current assets = $518,759
Next is to calculate quick ratio
Quick ratio = Current asset - Inventory / Current liabilities
0.79 = $518,750 - Inventory / $415,000
0.79 × $415,000 = $518,750 - Inventory
$327,850 = $518,750 - Inventory
Inventory = $518,750 - $327,850
Inventory = $190,900
Inventory turnover = Cost of goods sold / Inventory
9.5 = Cost of goods sold / $190,900
Cost of goods sold = 9.5 × $190,900
Cost of goods sold = $1,813,550