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4. Operating Cash Flow [L02] In comparing accounting net income and operating cash flow, name two items you typically find in ne

Mademuasel [1]

Answer:

1. Depreciation or Amortization of Assets

2.Profit or Loss on sale of Assets

Explanation:

Operating Cash Flow is very different to Net Income. The earlier represent cash movement and the latter represent profit movement.Cash and profit literally are different.

So in the profit calculation you would find some non-cash items that include estimate of depreciation expense or amortization cost of intangible assets or a profit or loss on sale of a PPE item.

Whereas in Operating Cash Flow determination only cash items are considered and all non-cash items are removed from profit of the year to reach an amount of Operating Cash Flow.

8 0

3 years ago

For Sunland Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $24,000. During the year, d

natita [175]

Answer and Explanation:

The preparation of the partner capital statement and the owner equity section is presented below:

Partner capital statement

Particulars N. Payne Ann Dody Total

Beginning

balance $18,900 $24,000 $42,900

Less: Drawings -$8,700 -$5,200 -$13,900

Balance left $10,200 $18,800 $29,000

Add: Net income

share 50% 50% $14,350 $14,350 $28,700

ending balance $24,550 $33,150 $57,700

Now the balance sheet is

Sunland Co,

Partial balance sheet

Dec 31,2020

Owner capital

Partner capital balance $29,000

Add: Net income $28,700

Total owner equity $57,700

7 0

2 years ago

Durable goods are: a. consumers' goods b. raw materials combined to produce consumer goods c. those that must be replaced after

Leokris [45]

Answer:

d. those that may be stored and repaired

Explanation:

Durable goods are those goods that are stored and repaired. It is to be considered for the long-lasting so it can be stored. Also it can be repaired when they wear out

For example: mobile phone, table, chair, toys, etc

Therefore as per the given situation, the option d is correct

And, the remaining options are to be considered

3 0

3 years ago

Fabian’s factory produces and sells computers and gaming consoles. Over time, he determined that he could produce gaming console

Alona [7]

Answer:

D. Opportunity cost.

Explanation:

Based on the question, the only information we have to know what led Fabian's decission is the fact that it is more profitable for him to produce gaming consoles than computer systems.
Then, for him, it is costly to produce computer systems in terms of the earnings he would set aside if he does not produce gaming consoles (because he is producing computer systems instead).
Then, the opportunity cost of producing computer systems it is high: he could be earning more by producing gaming consoles.
Then, based on the opportunity cost, he decides to produce only gaming consoles.

6 0

3 years ago

Hardin Company received $120,000 in cash and a used computer with a fair value of $360,000 from Page Corporation for Hardin Comp

san4es73 [151]

Answer:

$30,000 and $360,000

Explanation:

The computation of the gain on the exchange is shown below:

= Cash received + fair value of the computer - undepreciated cost of existing computer

= $120,000 + $360,000 - $450,000

= $30,000

The amount of the computer which is recorded will equal to the fair value of the computer i.e $360,000

For computing the gain we simply added the fair value and deduct the undepreciated cost of an existing computer in the cash received amount so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

3 0

3 years ago