Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
ToySpot in this scenario is a soft toy retailer; this means it deals with customers directly and at the same location.
The two functions of financial accounting are to measure business activities and prepare tax returns. FALSE
<h3>
What is a Tax return?</h3>
- A tax return is a document submitted to a taxing body that lists earnings, outlays, and other pertinent financial data.
- Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
- Tax returns must typically be filed yearly.
- In the United States, tax returns including data necessary to compute taxes are filed with the Internal Revenue Service (IRS) or with the state or local tax collecting agency (Massachusetts Department of Revenue, for instance).
- The IRS or another applicable authority's forms are often used to complete tax returns.
To learn more about Tax return, refer to the following link:
brainly.com/question/27300507
#SPJ4
Answer:
0.74
Explanation:
Jones corporation reported a current assets of $196,000
The current liabilities is $138,500
The current assets consists of $61,000 cash , account receivable= $42,100, inventory= $92,900
Therefore the quick ratio can be calculated as follows
= cash + account receivables
= $61,000 + $42,100
= $103,100
$103,100/$138,500
= 0.74
Hence the acid test(quick ) ratio is 0.74