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Grangel Company reported the following current assets and liabilities for December 31, 2012 and 2011:
Dec. 31, 2012
Dec. 31, 2011
Cash
$ 620
$ 560
Temporary investments
1,330
1,250
Accounts receivable
850
830
Inventory
1,000
Accounts payable
2,800
2,200
a. Compute the quick ratio for December 31, 2012 and 2011.
b. Interpret the company's quick ratio. Is the quick ratio improving or declining?
Which of the following enjoys the benefit of limited liability?
When moving from the changes in fund balances in the Statement of Revenues, Expenditures and Changes in Fund Balances to the changes in net assets in the Statement of Activities, what will be the adjustment?
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assume that 80 of the cost of revenue and 30 of the selling general and administrative expenses are variable to the
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An adjustment to retained earnings as a result of a conversion of preferred stock to common stock most likely would occur when:
Journalize the following transactions using the allowances method of accounting for uncollectible receivables.
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