Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following terms or phrases in with the explanations. Terms or phrases may be used more than once. Clear All Current assets/Current liabilities Quick ratio Remote contingent liability Quick assets No disclosure needed in notes to financial statements Current assets-Current liabilities Cash+Temporary investments + Accounts receivable Current ratio (Cash +Temporary investments +Accounts receivable)/Current liabilities Working capital Grant Co. had the following liabilities at December 31,, the end of its fiscal year Accounts Payable $56,000 Salaries Payable 12,200 Unearned Fees 8,900 Income Taxes Payable 3,200 Notes Payable The note payable is an 8-year note with $30,000 due in the next year. Prepare the liabilities section of the balance sheet for the company. 240,000 Grant Co. Balance Sheet December 31 Current iabilities Total current kabilities: Long- term liabilities Total Bablites Martin Jackson receives an hourly wage rate of $15, with time and a half for all hours worked in excess of 40 hours during a week. Payroll data for the current week are as follows: hours worked, 47; federal income tax withheld, $311; social security tax rate, 6.0 % ; and Medicare tax rate, 1.59%. What is the net amount to be paid to Jackson? T a. $1,042.19 b. $757.50 c. $389.69 d. $1.000.69