This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Maids-R-Us had current assets of 1,160 and total assets of 2,640. It had 650 in accounts payable and ... (Read 33 times)

plus1

  • Hero Member
  • *****
  • Posts: 676
on: Jul 5, 2018
Maids-R-Us had current assets of 1,160 and total assets of 2,640. It had 650 in accounts payable and a note payable for 1,500 due in two years. The current ratio (rounded) was ________.
 
  A) 1.23
  B) 1.78
  C) 0.54
  D) 0.81

Question 2

Describe the format of the income statement.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ecox1012

  • Sr. Member
  • ****
  • Posts: 344
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

The income statement is composed of revenues earned from the sales of goods and services. Expenses incurred in generating sales are subtracted from revenues. The result is either a profit or loss.


plus1

  • Member
  • Posts: 676
Reply 2 on: Jul 5, 2018
Wow, this really help

chjcharjto14

  • Member
  • Posts: 342
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

When the exhaust is lean, the PCM applies a positive current into the pump cell. When the exhaust is lean, the PCM applies a positive current into the pump cell.
If the pump is not running, check the wiring and current flow before going through the process of ... If the pump is not running, check the wiring and current flow before going through the process of ...
Hookup for testing fuel-pump current draw on any vehicle equipped with a fuel-pump relay. Hookup for testing fuel-pump current draw on any vehicle equipped with a fuel-pump relay.
Canada Total Energy Consumption by Fuel Type Canada Total Energy Consumption by Fuel Type
Transport accounts for 14% of greenhouse gas emissions Transport accounts for 14% of greenhouse gas emissions
Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ... Last year, Terrific Copying had total revenue of $475 000, while operating at 60% of capacity. ...
Video: Carbohydrate digestion - mouth and stomach & pancreas and small intestine

For a complete list of videos, visit our video library