If total assets are $8,000, what is the common-size figure of Cash, assuming that Cash has a balance of $3,000? (Round your final answer to the nearest percentage.)
A) 267%
B) 100%
C) 38%
D) 63%
C) 38%
Explanation: cash/total assets; ex: $3,000 / $8,000 = 38%
You might also like to view...
Describe submissive salespeople.
What will be an ideal response?
On August 1 . a firm assigned $30,000 of its $56,000 of accounts receivable. The finance company advanced 90% of the assigned accounts less a $2,000 fee. Interest is 12% and payable monthly on the beginning-of-period loan balance. A loan payment is remitted at the end of each month. Each payment includes principal and interest. The amount of each loan payment equals the cash collected on
receivables during the month plus interest on the loan balance. If $8,000 was collected on accounts receivable during August, the entry for the first loan payment would include a a. debit to Interest Expense of $280. b. credit to Cash of $8,000. c. credit to Account Receivable Assigned of $8,000. d. debit to Notes Payable of $8,280.
All of the following statements are true except:
a. U.S. GAAP and IFRS define fair value as "the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.". b. The fair value of an asset is an opportunity cost in the sense that fair value reflects an amount that the firm could receive if it sold the asset today. c. Current replacement cost is often used in U.S. GAAP to measure inventories whose usefulness has declined below acquisition cost. d. Net realizable value is similar, but not identical, to fair value. e. Net realizable value is not allowed by IFRS.
Highly specialized jobs are those having all of the following except:
A. Few tasks to accomplish B. Job-specific rules C. Discretion over means and ends D. Job-specific procedures