e the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $34,006 Accounts receivable 73,344 Accrued liabilities 6,760 Cash 17,227 Intangible assets 43,450 Inventory 88,373 Long-term investments 92,820 Long-term liabilities 79,618 Notes payable (short-term) 28,798 Property, plant, and equipment 675,759 Prepaid expenses 1,646 Temporary investments 34,230 Based on the data for Harding Company, what is the amount of quick assets?

Answers

Answer 1

Answer:

The amount of quick assets is $126,447.

Explanation:

Quick assets can be described as the most highly liquid assets of a company.

The amount of quick assets can be calculated for Harding Company as follows:

Amount of quick assets = Accounts receivable + Cash + Prepaid expenses + Temporary investments = $73,344 + $17,227 + $1,646 + $34,230 = $214,820 = $126,447


Related Questions

Most consumers and investors today want the firms they do business with to look beyond just the profit motive. In fact, they want firms that behave legally and ethically while also giving back to their communities via philanthropic activities. The framework that attempts to reconcile these wants is known as

Answers

Answer:

corporate social responsibility.

Explanation:

In Business management, social responsibility can be defined as an organization's obligation to act in a manner that benefits and adds significant value to the society, usually it has its business operations.

Hence, in addition to making profits and maximizing shareholders, organizations are required to lessen negative environmental impact or degradation and provide social amenities such as pipe-borne water, electricity, roads etc. It is also referred to as corporate social responsibility (CSR).

Generally, most consumers and investors today want the firms they do business with to look beyond just the profit motive. In fact, they want firms that behave legally and ethically while also giving back to their communities via philanthropic activities. Thus, the framework that attempts to reconcile these wants is known as corporate social responsibility.

The income statement of Pharoah Company is shown below.

PHAROAH COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020

Sales revenue $7,410,000
Cost of goods sold Beginning inventory $1,880,000
Purchases 4,360,000
Goods available for sale 6,240,000
Ending inventory 1,500,000
Cost of goods sold 4,740,000
Gross profit 2,670,000
Operating expenses
Selling expenses 460,000
Administrative expenses 630,000 1,090,000
Net income $1,580,000

Additional information:

1. Accounts receivable decreased $313,770 during the year.
2. Prepaid expenses increased $167,640 during the year.
3. Accounts payable to suppliers of merchandise decreased $279,000 during the year.
4. Accrued expenses payable decreased $124,020 during the year.
5. Administrative expenses include depreciation expense of $58,970.

Required:
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Vince Gill Company, using the indirect method.

Answers

Answer and Explanation:

The preparation of the operating activities section of the statement of cash flows for the year ended December 31, 2020 is presented below;

Cash flow from operating activities

Net income $1,580,000

Add: depreciation expense $58,970

Add: decrease in account receivable $313,770

Less: Increase in prepaid expense -$167,640

Less: Decrease in account payable -$279,000

Less: decrease in accrued expense payable -$124,020

Add: Decrease in inventory $380,000 ($1,880,000 - $1,500,000)

Cash flow provided by operating activities $1,762,080

The national lottery in the country of San Dayana is advertising on billboards in the poverty stricken, inner-cities of the country. "Buy your way out of here to America" Buy the 5 for 1 lottery tickets every Friday." Would you consider this an ethical marketing strategy? Why/Why not?

Answers

The correct answer to this open question is the following.

Would you consider this an ethical marketing strategy?

No. Of course not. It is not ethical. However, it is not illegal.

It cannot be considered ethical because this piece of advertisement is playing with the lack and necessity of the poor people of San Dayana.

The lottery advertisement is trying to be lucrative and benefit from the ignorance and poverty of the people of this poor country.

Once said that people are the ones who had the last word on the decision to buy or not to buy the lottery tickets. They know that the probabilities are minimum to win the big prize.

So instead of work, save and invest, or do other legal things to prosper, they prefer to spend their hard-earn money to get the "miracle" and become rich.

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