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Dafna11 [192]
2 years ago
13

The Golden Braid Bookstore currently has $340,000 in cash, $280,000 in inventory, and $40,000 in accounts receivable. The compan

y also has $65,000 in accounts payable, and $15,000 in other current liabilities. What is its quick ratio?
Mathematics
1 answer:
Ivenika [448]2 years ago
8 0

Answer:

The quick ratio is 4.75:1.

Step-by-step explanation:

From the given information it is clear that:

Cash = $340,000

Inventory = $280,000

Accounts receivable =  $40,000

Accounts payable = $65000

Other current liabilities = $15000

Formula for quick ratio:

\text{Quick ratio}=\frac{\text{Cash + Current receivables + short-term investment}}{\text{Current Liabilities}}

Substitute Cash = 340000, Current receivables=40000, Current Liabilities= (65000+15000).

\text{Quick ratio}=\frac{340000+40000}{65000+15000}

\text{Quick ratio}=4.75

Therefore the quick ratio is 4.75:1.

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A mattress store sold 1,330 mattresses in one year. If 30% of the mattresses sold were king size mattresses, how many king size
kodGreya [7K]

The total number of mattresses that are sold in a year = 1,330

Percentage of King size mattresses sold = 30% = 30/100 = 0.3

Next, we have to calculate the actual number sold by using the formula given below:

Number of king size mattresses sold = Total mattresses sold in a year * percentage of king size mattresses sold

Number of King Size mattresses sold = 1,330*0.3 = 399

Number of king size mattresses sold = 399


3 0
2 years ago
Read 2 more answers
Hariette would like to review the income and expenses that were actually paid last month so she can determine how much to set as
Brrunno [24]

Answer:

Hybrid basis

Step-by-step explanation:

There are different methods of accounting used by businesses depending on their peculiar needs. Below are the type of accounting methods:

- Cash basis is when revenues and expenses are recognised when cash is recieved or paid out.

-Accrual basis is when revenue and expenses are recognised when they are earned. For example if services are rendered to a client that will pay in a week's time, since service has already been given it is considered that the future payment has been earned.

- Modified basis combines elements of cash and accrual basis. For example considering short term assets like accounts receivable and accounts payable as cash items. Long term assets are recorded on accrual basis.

- Hybrid basis is used when cash and accrual methods are used for various expenses and tax. Mostly it is used for internal accounting purposes.

In this scenario Hariette would like to review the income and expenses that were actually paid last month. This requires a cash basis that shows actual amount recieved and paid last month. Account receivable and payable are not considered.

In setting aside money for tax she will employ accrual basis accounting. It is an expense that is estimated for future use.

So the hybrid basis is the method that will be most suitable.

5 0
2 years ago
hree TAs are grading a final exam. There are a total of 60 exams to grade. (a) How many ways are there to distribute the exams a
nalin [4]

Answer:

a. 205320

b. 34220

c. 60! / (35)! (25)! + 60!/ (40)!(20)! + 60!/ (45)! (15)!

Step-by-step explanation:

a) The number of ways to dustribute exams among the TA's is:

n / (n - r)!

n= number of things to choose from

r= Choosing r number

60P3= 60! / (60 - 3)!

(60)(59)(58)(57)! / (57)!

=205320

B) The number of ways to dustribute the exams among the TA's is:

n! /(n - r)! r!

60C3= 60! /(60 - 3)! 3!

= 60!/ 57! 3!

= 60 × 59 × 58 / 3 × 2 × 1

= 34220

C) The required number of ways is:

60C25 + 60C20 + 60C15

= 60! / (35)! (25)! + 60!/ (40)!(20)! + 60!/ (45)! (15)!

6 0
2 years ago
What fraction of 30 is 12
zloy xaker [14]

Call the mystery fraction ' F ' (for 'fraction').

12 is the mystery fraction of 30 .

                                             12  =  F x 30

Divide each side by  30 :      F  =  12/30  =  2/5 .

5 0
2 years ago
Daniel is organizing his rock collection of 18 rocks into equal groups. How many possible ways can Daniel line up his rock colle
Colt1911 [192]

Answer:

The correct options are (2, 3 and 6).

Step-by-step explanation:

It is provided that Daniel has a rock collection of 18 rocks.

He wants to organize these 8 rocks into equal groups.

The factors of 18 are:

Factor (18): {1, 2, 3, 6, 9, 18}

A group is a selection of more than 1 items. So, there cannot be 18 groups.

And there cannot be 1 group, since then Daniel would not be organizing the rocks.

So, the possible ways Daniel line up his rock collection are {2, 3, 6 and 9}.

Thus, the correct options are (2, 3 and 6).

6 0
2 years ago
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