Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 13 2 points Save Answer Gold Company buys a 25% interest in Perfect Pillow Inc. for $125,000 on January 1, 2012. During 2012 Perfect

image text in transcribed
image text in transcribed
image text in transcribed
Question 13 2 points Save Answer Gold Company buys a 25% interest in Perfect Pillow Inc. for $125,000 on January 1, 2012. During 2012 Perfect Pillow Inc, carns $65,000 and pays a dividend of 20,000. What is the balance in the account "Investment in Perfect Pillow Inc." at the end of 2012? A5185,000 OR 5125,000 c5146,250 OD 5136,250 Question 14 A company borrows $75,000 from a bank on September 1, 2015. The note is due August 31, 2016. The interest rate is 7.5%. How much is interest expense for 2016? A $5,625 OR $3,750 O c. 54,219 OD 51,875 Moving to another question will save the uestion 15 2 points Save Answer At the end of the year, Vera Inc. has cash of $35,000, current accounts receivable of $55,000, merchandise inventory of $60,000, and prepaid expenses totaling $6,000. Liabilities of $60,000 must be paid next year and other liabilities of $50,000 over the course of 15 years. What is the acid-test (or quick) ratio? O 0.81 Oa 1.42 2.60 OD 1.50

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

Study On The Auditing Theory Of Socialism With Chinese Characteristics

Authors: Jiayi Liu

1st Edition

1119107814, 978-1119107811

More Books

Students also viewed these Accounting questions