Ritter Company has a current ratio of 3.00 on December 31. On that date the company’s current assets are as follows: Cash $32,000
Short-term investments 49,300
Accounts receivable (net) 170,000
Inventory 200,000
Prepaid expenses 11,600
Current assets $462,900

Ritter Company’s current liabilities at the beginning of the year were $150,000 and during the year its operating activities provided a cash flow of $60,000.

The maximum tax rate on estates and gifts

Reqwest llc agrees to sell one hundred servers to social media networks, inc. the servers, which social media networks expressly requires to have certain amounts of memory, are to be shipped “f.o.b. social media networks distribution center in tampa, fl.” when the servers arrive, social media networks rejects them and informs reqwest, claiming that the servers do not conform to social media networks’ memory requirement. a few hours later, the servers are destroyed in a fire at social media networks’ distribution center. will reqwest succeed in a suit against social media networks for the cost of the goods?

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.