FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Degas PLC has the following ratios for the current year Current ratio 1:1 Acid-test ratio 0 8:1 Return on equity 10% (based on year-end equity

image text in transcribed
image text in transcribed
Degas PLC has the following ratios for the current year Current ratio 1:1 Acid-test ratio 0 8:1 Return on equity 10% (based on year-end equity figure) Non-current liabilities: Total equity 2:1 Total assets less current liabilities: Current assets 3:1 The profit for the year was $5 million. What is the figure for inventories held at the end of the year? A. t90m OB. $40m O C. $10m O D. $5m

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microsoft Excel For Accounting The First Course

Microsoft Excel For Accounting The First Course

Authors: L Murphy Smith, Katherine Smith

1st Edition

0130085529, 978-0130085528

More Books

Students also viewed these Accounting questions

Question

★★★★★
Compare the conditional probability from Exercise 7.20 with the unconditional probability of dropping out of school.

Answered: 1 week ago

Question

★★★★★
Discuss how the main features of an object-oriented DSS appliance would differ from the main features of a traditional DSS appliance.

Answered: 1 week ago

Question

★★★★★
2. Appreciate the cognitive and social factors that influence the development of effective interviewing methods for various vulnerable populations

Answered: 1 week ago

Question

★★★★★
Sales Increase Bannister Legal Services generated $2.0 million in sales during 2009, and its year-end total assets were $1.5 million. Also, at year-end 2009, current liabilities were $500,000,...

Answered: 1 week ago

Question

★★★★★
The technical architecture phase, section 1 1 of TOGAF 9 . 2 ADM outlines the following steps: ( Choose ALL that apply ) Select reference models, viewpoints, and tools. Develop a baseline technology...

Answered: 1 week ago

Question

★★★★★
Blossom Corporation has the following cost records for the year ended December 31, 2022: Indirect factory labour $5,060 Direct materials used 252,100 Work in process (1/1/2022) 31,900 Work in process...

Answered: 1 week ago

Question

★★★★★
1.1.9 Quiz: An Alternative to Riemann Sums 5 sin(x) Consider the function f(x) = +5.1.1 (+2), which is +5.1.1-(2+2) (x2+4x+5) graphed below on the interval [-2, 8]. 0 2 # Click here for long...

Answered: 1 week ago

Question

★★★★★
Volcano Pty Ltd (Volcano) operates three surfing stores in Queensland. On 8 August 2016, Gao was appointed to the position of managing director of Volcano for a period of two years. A return was...

Answered: 1 week ago

Question

★★★★★
One of your team members calls you and asks for your help unloading baggage from a flight which will arrive shortly. You are currently working at a different terminal finishing the loading process...

Answered: 1 week ago

Question

★★★★★
Given the evolving nature of cyber threats, how do you ensure that your knowledge stays current? In a rapidly changing digital landscape, staying informed about the latest cybersecurity trends is...

Answered: 1 week ago

Question

★★★★★
The student performed a specific heat capacity measurement of the same unknown fluid sample using the DSC and followed the Three-Run Method. They performed the heat flow calibration prior to their...

Answered: 1 week ago

Question

★★★★★
7. What is the extent (percentage) of errors detected in the information collected?

Answered: 1 week ago

Question

★★★★★
8. What are the costs of collecting the information?

Answered: 1 week ago

Question

★★★★★
6. How great is the time-lag between when an event occurs until we get information about it?

Answered: 1 week ago

Previous Question Next Question