How to test for the accuracy of the accounts receivable, inventory, accounts payble, and cash accounts?
How to test for the accuracy of the accounts receivable, inventory, accounts payble, and cash accounts?
Cash Accounts receivable Inventory $1,290 3,195 6,200 Prepaid expenses Accounts payable Other current liabilities $ 700 5,600 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio 0 to 1
Cash Accounts receivable Inventory $1,420 2,696 5,600 Prepaid expenses Accounts payable Other current liabilities $ 500 4,300 600 Use the above information on current assets and current liabilities to compute the acid-test ratio. Choose Numerator: Acid-Test Ratio Choose Denominator: = Acid-Test Ratio Acid-test ratio to 1 mm
Cash Accounts receivable Inventory $1,330 3,428 5,300 Prepaid expenses Accounts payable Other current liabilities $ 500 5, 200 900 Use the above information on current assets and current liabilities to compute the acid-test ratio. Acid-Test Ratio Choose Denominator: Choose Numerator: Acid-Test Ratio Acid-test ratio / to 1
Current assets include 1.Group of answer choices 2.inventory and accounts receivable. 3.accounts payable and cash. 4.cash and intangible assets. 5.inventory and accounts payable. 6.buildings and equipment.
Escerps fom Neurih Coporations conarabi belo. Cash and cash equivalents Accounts receivable Inventory Ending Beginning Balance Balance $51,000 $41,000 $38,000 $42,000e $79,000 $82,000 Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method? Multiple Choice The change in Accounts Receivable is subtracted from net income; The change in Inventory is added to net income The change in Accounts Receivable is added to net income; The change in...
Accounts receivable turnover measures * How long it takes to sell inventory on credit How often a company converts its average accounts receivable balance into cash during the period Measures the relationship of cash sales to credit sales How long it takes to sell inventory on credit and how often a company converts its average accounts receivable balance into cash during the period How often a company converts its average accounts receivable balance into cash during the period and measures...
Jessica's Boutique has cash of $47, accounts receivable of $68, accounts payable of $220, and inventory of $150. What is the value of the quick ratio? 1.20 .68 .31 1.73 .52
Jessica's Boutique has cash of $43, accounts receivable of $58, accounts payable of $210, and inventory of $160. What is the value of the quick ratio? .28 1.24 1.72 .76 .48
Your company wishes to verify the accuracy of the accounting records concerning its cash accounts. How would you use QuickBooks to accomplish this?
பானாரான Debit 58,900 25,400 Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Notes Receivable (51, due in 2 years) Land Accounts Payable Common Stock Retained Earnings Totals 36,500 14,400 157,000 15,000 222,000 52,800 $292,200 $292,200 During January 2021, the following transactions occur: January 1 Purchase equipment for $19,700. The company estimates a residual value of $1,700 and a five-year service life. January 4 Pay cash on accounts payable, $9,700. January 8 Purchase additional inventory on account, $84,900. January 15...