Liquidity Ratio Calculations: Current Ratio = Current Assets / Current Liabilities $147,800 / $90,283 = $1.637:1 Acid-Test Ratio = (Cash + Short-Term Investments + Net Receivables) / Current Liabilities $89,664 + $0 + $51,869 / $90,283 = $1.567:1 Receivables Turnover = Net Credit Sales / Average Receivables ($1,109,295 - $89,664) / [($51,869 + $81,557) / 2] = 15.283 *Average Collection Period = 365 / 15.283 = 23.883 Days When evaluating Huffman Trucking’s ability to pay off short-term debt and maturing obligations, it’s imperative to analyze the company’s liquidity. Utilizing the current ratio to analyze liquidity, which compares all current assets to current liabilities,
Learning Team Ratio Analysis Paper Kudler Fine Foods Liquidity Ratio Upon reviewing the financial statements of Kudler Fine Foods, I came up with the following financial ratio for the company: The Kudler Fine Foods’ current total asset is $1,971,000 and the total current liabilities is $116,290. The company’s current ratio is 16.95. (1,971,000/116,290) = 16.949=16.5 Therefore, for every $1 that our company owes in short term, there is $16.95 in assets available that we can convert to cash in short term. Our company’s Debt Ratio is Total Debt is divided by our Total Assets. Our Total Current Liabilities are as follows: Accounts Payable 96,500 Sales Tax Payable 3,950 Payroll Tax Payable 15,840 and our Total Long Term Liabilities are the following: Long Term Notes Payable 630,000 Therefore, the Total Liabilities we have is $ $746,290 and our Total Assets is $2,675,250.
1 out of 1.00 point The following journal entry would be made in a processing costing system when units that have been completed with respect to the work done in Processing Department Z are transferred from Processing Department Z to Processing Department Y: True False In a process costing system, overhead costs are traced to units of product as they are incurred. True False A process cost system would be used to account for the cost of manufacturing an oil tanker. True False A process costing system would be best suited for production of a large quantity of a homogeneous product. True False In process costing, costs are accumulated in processing departments, rather than by job. True False The job cost sheet is used in both job-order and process costing.
It is the responsibility of Retail Banking to ensure that payment for expense is processed in the first instance and that secondly an adjustment allocation is charged back to both Commercial Banking and Financial Planning cost centres for the expense. The cost allocation basis that is utilised is calculated on the amount of floor space that is allocated to each department which also has a direct correlation to the number of full time equivalent staff. The cost allocation is agreed prior to each financial year by the stakeholders namely the Heads of Retail Banking, Commercial Banking and Financial Planning and is reviewed annually. Once agreement has been reached the outcome is communicated to relevant parties prior to the reporting period. The allocation of space and staff numbers for the reporting period 1st July 2013 to 30th June 2014 are detailed below.
Health and safety Pay and pensions Data protection 2b) List three key points of legislation that affect employees in a business environment. National minimum wage 1998 The working time regulations The data protection act 1998 3. Identify a range of places where a person can find information on employment rights and responsibilities. You should identify at least two internal and two external sources of information. Internal; Personal specialists Informed colleagues External; Citizen’s adivice Legal professions 4.
Direct materials $14 Indirect materials (variable) 4 Direct labor 8 Indirect labor (variable) 6 Other variable factory overhead 10 Fixed factory overhead 28 Variable selling expenses 20 Fixed selling expenses 14 During the period, the company produced and sold 1,000 units. a. What is the inventory cost per unit using absorption costing? b. What is the inventory cost per unit using variable costing?
These are tangible assets and examples of these assets are premises, fixtures and fitting, equipment and vehicles. For business alpha the fixed assets are 344,000. The next section for the balance sheet is current assets these are the items of value that is owned by a business which its values are likely to be help on a regular basis. Examples of current assets are stock, debtors and cash. For business alpha the total current asset calculation is to add all the assets In order to receive the full current assets.
Harry W. Pedroso Intermedia Financial Accounting I Section 03 Aren’t We Done Yet? LabCo is a contracting firm that specializes in the construction of machinery and equipment for different types of industries. All LabCo projects contracts are unique and they require some design and development. LabCo charges its customers two ways fixed-price or cost basis. LabCo uses the percentage of competition method to recognize revenue.
How much was the business's net income (or net loss) for 2010? Write the equation to compute the company's net income and indicate which element is a debit and which is a credit? Does the net income represent a net debit or a net credit? Total revenue – Total expenses = Net Income $460,000 - $380,000 = $80,000 Revenue = credit Total expenses = debit Net Income = credit The following transactions occurred for Advanced Engineering R1: Record the transactions in the journal: |DATE |ACCOUNT NAME |DEBIT |CREDIT | |09/02/15 |Utility Expenses |$300.00 | | | |Utilities payable | |$300.00 | |09/05/15 |Equipment |$2,000.00 | | | |Accounts Payable | |$2,000.00 | |09/10/15 |Accounts Recievable
Four main points that must be in the contract are:- • Place of work: ABC Electrical Contractors Limited • Employee’s name: C Smith • Job title: Electrical Engineer • Hours of work: 37.5 Other information that will be on the contract of employment:- • The main terms and conditions of your employment • Your pay and other benefits, such as sick pay and holiday pay • The date on which your employment started • Your place of work 2a) List three key points of legislation that affect employers in a business environment. • Data protection • Health and safety • Equality 2b) List three key points