I'm pretty that would be: A.) True.
Answer:
b. $325,000
Explanation:
The current assets are the assets that are likely to be converted to cash within 12 months. These include cash, inventory, receivables, prepaid expenses etc.
Given;
Inventory = $84,000,
Long-term Debt = $125.000;
Common Stock $60,000;
Accounts Payable $44,000;
Cash $132,000,
Buildings and Equipment $390,000:
Short-term Debt $48.000:
Accounts Receivable $109,000,
Retained Earnings $204,000 Notes Payable $54.000:
Accumulated Depreciation $180.000
Total current asset = $84,000 + $132,000 + $109,000
= $325,000
Answer: $300,000
Explanation:
Total expected costs = cost incurred to date + estimated cost to complete
= 1,200,000 + 3,600,000
= 4,800,000
= 0.25
= 25%
Profit = contract revenue - Total expected costs
= $6,000,000 - 4,800,000
= $1,200,000
Cumulative gross profit = Profit × Percentage of completion
= $1,200,000 × 0.25
= $300,000
Therefore, Red Builders should have recognized profit at the end of year 1 in the amount of $300,000.
Answer:
c
Explanation:
Multinational market regions are groups of countries that seek mutual economic benefit from reducing interregional trade and tariff barriers.
Types of multinational market regions
- Regional Cooperation Groups.
- Free Trade Area
- Customs Union.
- Common Market
- Political Union
If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, this error be treated on the bank reconciliation--- Subtract $45 from the book balance.
What is bank reconciliation?
Bank Reconciliation is an important process in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger. Preparing a bank reconciliation statement helps businesses to eliminate possible errors in transactions or bookkeeping
What is the journal entry for bank reconciliation?
The journal entries for the bank fees would debit Bank Service Charges and credit Cash. The journal entry for a customer's check that was returned due to insufficient funds will debit Accounts Receivable and will credit Cash.
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