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MrRissso [65]
3 years ago
5

Anthony Inc. reported net income of $270,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $2

1,000 respectively. Ending balances in these accounts were $10,500 and $29,000, respectively. Using just this information what is Anthony Inc.'s net cash flows from operating activities?
Business
1 answer:
Natalka [10]3 years ago
3 0

Answer:

$268,500

Explanation:

When you use the indirect method to calculate net cash flows, you start with net income and then adjust it by:

  • adding the amount by which accounts receivable decreased = ($17,000 - $10,500) = $6,500
  • deducting the amount by which accounts payable increases = ($21,000 - $29,000) = -$8,000

net cash flow from operating activities = $270,000 + $6,500 - $8,000 = $268,500

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Sarah's house caught on fire. Through the prompt assistance of her neighbor Odessa, the fire was quickly extinguished. In gratit
Zepler [3.9K]

Answer:

To enforce this promise we need to analyse whether there has been any agreement or contract between Sarah and Odessa and whether the same can be enforced.

Explanation:

In Sarah's case, her offer to gratuitously pay the neighbor for assisting in the house fire is not an enforceable contract. When the neighbor rushed to help in the fire, the offer to pay $1,000 had not yet been extended. When Sarah did extend the offer to pay $1,000, there was no consideration exchanged between both parties. The consideration, putting out the fire, had already occurred without the offer or acceptance of a contract.

Consider an alternate scenario. Sarah's house was on fire, and she could not wait for the fire department. She ran to her neighbor's house, begged for help, and offered $1,000 in exchange for neighbor's assistance. After hearing Sarah's plea, the neighbor agrees to assist in extinguishing the fire. This constitutes a contract; an offer, consideration, and acceptance.

3 0
3 years ago
Match each Act to its purpose.
Marta_Voda [28]

Credit CARD Act

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Protects consumers from unfair credit card billing practices.

Patriot Act

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Prevents, detects, and prosecutes international money laundering

Identity Theft and Assumption Deterrence Act

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Criminalizes identity theft

Dodd-Frank Act

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Educates consumers so that they can protect themselves from unfair practices.

4 0
3 years ago
Which of the following fundamental responsibilities is not correct? a. The controller notifies the business reporting department
seraphim [82]

Answer:

d. Detailed reporting of daily production is sent to the president

Explanation:

Fundamental responsibilities involves process in which the controller notifies the business reporting department of various adjusting entries, which are sent to the financial reporting officer as adjusted trial balance figures.

The treasurer notifies the business reporting department of investing and financing transaction activities.

8 0
3 years ago
Which organization has the highest market dependence? Group of answer choices a chain of rapid-service oil change shops. a manuf
pashok25 [27]

Answer:

The correct answer is letter "D": company that specializes in making replacement tiles for the space shuttle.

Explanation:

Market-dependent industries are those whose production relies on the manufacturing of another institution. This is a threat for the entity since if the other producers fail, the entity is likely to follow the same path. The situation is even worse when the manufacturing company produces rare or uncommon goods.

Therefore, <em>a firm producing replacement tiles for space shuttles is highly market-dependent since a few organizations worldwide require spare parts for space tiles, which is not a common product traded in the market.</em>

7 0
3 years ago
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Answer:

Setting short term goals now helps you reach long term goals later

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