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The current asset section of Guardian Consultant's balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2011 balance sheet reported the following: cash, $1,300,000; prepaid expenses, $360,000; noncurrent assets, $2,400,000; and shareholders' equity, $2,500,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.4
Determine the following 2011 amounts and ratios:1.Current liabilities.2.Long-term liabilities.3.Accounts receivable.4.The acid-test ratio.
dinkle manufacturing company manufactures a variety of tools and industrial equipment. the company operates through
on april 1 bachler corporation had 37000 of raw materials on hand. during the month the company purchased an additional
palo alto corporation is considering purchasing a new delivery truck. the truck has many advantages over the companys
Prepare journal entries to record these selected transactions for Eduardo Company
north pole cruise lines issued preferred stock many years ago.it carries a fixed dividend of 6 per share. with the
the following cost and inventory data for the just completed year are taken from the accounting records of eccles
the general ledger account for accounts receivable shows a debit balance of 40000. the allowance for uncollectible
if an asset costs 38000 has a residual value of 3000 and has a useful life of five years the depreciation in the second
Discuss the importance of periodic reporting and the time period principle.
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows.
1. as sales exceed thebreak-even point a high contribution-margin percentagea. increases profits faster thandoes a low
the warsaw company must maintain a minimum cash balance of 15000. at the beginning of june the companys cash balance
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