At the beginning of January of the current year, Little Mikey's Catering ledger reflected a normal balance of $53,000 for accounts receivable. During January, the company collected $15,000 from customers on account and provided additional services to customers on account totaling $12,600. Additionally, during January one customer paid Mikey $5100 for services to be provided in the future. At the end of January, the balance in the accounts receivable account should be:
A. $2400.
B. $55,700.
C. $50,300.
D. $50,600.
E. $55,400.
Answer: D
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A. organizational B. strategic C. formalization D. environmental
Accounts payable $ 30,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 25,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 100,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 20,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the above data, what is the quick ratio, rounded to one decimal point?
A) 2.2 B) 3.5 C) 3.0 D) 1.6
McGuire Company acquired 90 percent of Hogan Company on January 1, 2019, for $234,000 cash. This amount is reflective of Hogan's total acquisition-date fair value. Hogan's stockholders' equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis of Hogan's net assets revealed the following: Book Value Fair ValueBuildings (10-year life)$10,000 $8,000 Equipment (4-year life) 14,000 18,000 Land 5,000 12,000 ??Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 5 years.?In consolidation at December 31, 2019, what net adjustment is necessary for Hogan's Patent account?
A. $7,000. B. $8,800. C. $7,700. D. $5,600. E. No adjustment is necessary.
Which of the following has a chi-square distribution?
a. (n - 1)?2/s2. b. (n - 1)?/s. c. (n - 1)s/?. d. (n - 1)s2/?2.