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kykrilka [37]
2 years ago
13

On October 1, Year 1, Jason Company paid $3,600 to lease office space for one year beginning immediately. What is the cash outfl

ow for rent that would be reported on the Year 1 statement of cash flows
Business
1 answer:
Mars2501 [29]2 years ago
5 0

The cash outflow for rent that would be reported on the Year 1 statement of cash flows is $2,700

<h3>What is cashflow?</h3>

This is the amount of cash , which a company receives or gives out by the way of payments to its creditors.

Though the amount paid was paid on October 1, Year 1 it will only be expensed from October to December for year 1.

The duration of the payment is 12 months, hence  

Monthly amortization

= $3,600 / 12

= $300

Rent expense for year 1

= $300 × 3

= $900

The ending balance in the prepaid rent account will be  

= $3,600 - $900

= $2,700

This will be the cash outflow for rent that would be reported on the Year 1 statement of cash flows.

Hence, the cash outflow for rent that would be reported on the Year 1 statement of cash flows is $2,700

Learn more about cashflow here : brainly.com/question/14723642

#SPJ1

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Kellogg's sells many different breakfast cereals, including Corn Flakes, Rice Krispies, Frosted Flakes, Raisin Bran, and Special
11Alexandr11 [23.1K]

Answer:

The answer is false

Explanation:

Breadth, refers to the number of product lines  offered by a firm

6 0
3 years ago
true or false: the profit margin is the financial gain from a sale after the costs of providing the sold product have been deduc
kotykmax [81]

The profit margin is the financial gain from a sale after the costs of providing the sold product have been deducted. Thus, the statement is true.

<h3>What is the profit margin?</h3>

Profit margin is the portion of sales that a company keeps after all costs are subtracted. It essentially displays the percentage of each dollar of sales that is kept as profit. A 15% profit margin, for instance, means that a company keeps $0.15 from every dollar of sales produced.

Comparing the firm's operations to those of a best-in-class company, maybe in a different industry, is another way to increase your profit margin. This comparison could point out several operational tweaks that could be done to raise profit margins.

Learn more about profit margin, here:

brainly.com/question/16999019

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6 0
1 year ago
A firm engaging in efficient​ production, using current​ technology, ________ produce its current level of production with​ ____
insens350 [35]

Answer:

C.

Explanation:

Efficiency is manifested in the proper use of time, and resources for an intended purpose. Meaning, it is doing things right.

Production efficiency is based on a business's ability to produce the highest number of units of a good while using the least amount of resources possible.

Also, is the comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.).

In this example, the firm has already meet the efficient point. It is not possible to produce the same level of production with less resources.

7 0
3 years ago
Rupert and cordelia own an american company that does business in foreign nations. getting a license in a new country can be cha
Lyrx [107]

Answer:

The payment made by Cordelia

Explanation:

In the scenario it stated clearly that Rupert filled out what would have been a normal application form for operational license in the country

However Cordelia using connections was able to schedule a meeting with the government official that <u>has the authority to determine which foreign companies get licenses, and pays him $200 to approve their license.</u>

Cordelia payment is nothing short of bribery and corruption because it is not a legally required payment and the motive was clearly to unduly influence the minister to approve their license.

Such payment will likely violate the foreign corrupt practices act

6 0
3 years ago
Read 2 more answers
What are the managerial implications of a borderless organization?
Andrews [41]
<span>In my opinion, the managerial implications of a borderless organization could be a language barrier: complete from a different spoken language to even just day to day colloquial words or phrases. Another could be different labor laws in different countries. Another big one is the fact that different time zones could come into play and if improperly accounted for or organized with, this could really turn business upside down.</span>
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3 years ago
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