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Mars, Inc. has a December 31st year end. Included in Marinc.'s trial balance at 12/31/X2 were the following $392.ee Balance in their checking account at
Mars, Inc. has a December 31st year end. Included in Marinc.'s trial balance at 12/31/X2 were the following $392.ee Balance in their checking account at Western Bank Commercial paper that matures on 1/30/3 (purchased on 11/1/20x2) Long-term note payable from Western Bank 12,000 279,900 The Western Bank checking account includes $57,000 of restricted cash that the bank requires as a compensating balance for the $270,000 note payable. What amount of cash and cash equivalents will Mars, Inc. include in its 12/31x2 balance sheet? Multiple Choice $335.000 $347.000 $404.000 $392.000 The Burrito Corporation uses the conventional retall method to estimate ending Inventory. Cost data for the quarter ended March 31, 20x2 is shown below Beginning inventory Net purchases Net markups Net markdowns Net sales Cost Retail $ 36,000 $ 56,000 150,000 224,000 20,000 25,000 225,000 Calculate Burrito's estimated ending Inventory at March 31, 20x2, to the nearest thousand, using the conventional retall method. (Do not round Intermediate calculations.) Multiple Choice $6,000 $31000 $41,000 $45.000 O Orange Corporation's income statement for the year ended December 31, 20x2 Included the following Information: 2021 $429,000 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 66,000 325,000 391,000 103,000 288,000 $141,000 Calculate Orange's 20x2 Inventory turnover ratio. (Round your answer to two decimal places.) Multiple Choice 4.17 2.80 3.41 508
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