A company records items on the cash basis throughout the year and converts to an accrual basis for year-end reporting. Its cash-basis net income for the year is $70,000. The company has gathered the following comparative balance sheet information: Beginningof yearEndof year Accounts payable ...
A company records items on the cash basis throughout the year and converts to an accrual basis for year-end reporting. Its cash-basis net income for the year is 70,000. The company has gathered the following comparative balance sheet information: Beginning of year End of year Accounts ...
Accounts payable 65,000 Accounts receivable 120,000 Cost of goods sold 400,000 Depreciation expense 10,000 Additional Information: The opening balance of common stock was 100,000 The opening balance of retained earnings was $82,500 The company had 10,000 common shares outstanding all year No ...
What is the current ratio as of December 31?A. 0.93 B. 1.79 C. 0.67 D. 0.43 正确答案:B 分享到: 答案解析: B is corrent. The requirement is to calculate the current ratio. The current ratio is calculated as current assets/current liabilities. Current assets include cash, accounts ...
A company had the following accounts and balances year-end: Cash 45,200. B、104,800. D、186,600.
Diary of A Private Investor: Headache? That'll Be the Annual Reports ; They May Be Dry, but Company Accounts Are Essential Reading EVERY OCTOBER, towards the end of the month, I get an insidious headache. Nothing to do with my body clock or restless hormones. It starts as a nagging dru...
At year-end , Sun company reported cost of goods sold of 400 million. Ending accounts payable is 100 million, Assuming there are 365 days in a year, How many days on average it takes Sun company to pay its suppliers.() A. 80.75 days B. 91.25 days C. 102.25 days ...
Post year end, on 03 April 2024, ART completed on the sale of its investment in the H2O shopping centre in Madrid. CBRE H2O disposed of its Spanish subsidiaries for €48.4 million (£41.4 million): the price was based on the 31 December 2023 accounts of the Spanish subsidiaries and will...
The process of adjusting the accounts at the end of an accounting period to show the actual financial position of a company is known as: 答案 C 解析 null 本题来源 题目:The process of adjusting the accounts at the end of an accounting period to show the actual financial position of a comp...
(a) Classify each of the above accounts as an asset (A) , liability(L), stockholders ’ equity (SE), revenue (R), or expense (E) item. (b) Classify each of the above accounts as a financing activity (F), investing activity (I), or operating activity (O). If you believe a ...