1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
chubhunter [2.5K]
1 year ago
11

Georgia Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative

balance​ sheet:Georgia Corp.Comparative Balance SheetDecember​ 31, 2025 and 202420252024​Increase/ (Decrease)Cash​$45,000​$27,000​$18,000Accounts Receivable​48,000​45,000​3,000Merchandise Inventory​180,000​132,000​48,000Total Assets​$273,000​$204,000​$69,000How will the change in Accounts Receivable be shown on the statement of cash​ flows?A.negative cash flow under the investing activities sectionB.positive cash flow under the financing activities sectionC.subtraction from net income under the operating activities sectionD.addition to net income under the operating activities section
Business
1 answer:
Lelu [443]1 year ago
3 0

The change in Accounts Receivable will be shown on the statement of cash​ flows as:

C. Subtraction from net income under the operating activities section.

Net income is calculated by deducting from total revenue the cost of sales, operational expenses, depreciation, interest, amortization, and taxes.

Change in Accounts Receivable:-  

Accounts Receivable  

           In 2019                                 $ 48,000  

           In 2018                                 $ 45,000  

Increase in Current Assets              $ 3,000  

This implies Cash outflow from Operating Activities.

Thus it should be subtracted from Net Income under the Operating Activities section.

Net income is a company's profit for a given period, whereas cash flow from operating activities measures the cash that comes in and goes out during a company's day-to-day operations. Net income is used to calculate cash flow from operating activities. However, both are important in determining a company's financial health.

For more information on Net income, visit :

brainly.com/question/14213197

#SPJ4

You might be interested in
Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period
FinnZ [79.3K]

Answer:

$11,000 unfavorable

Explanation:

Calculation to determine the company's fixed-overhead volume variance would be:

Actual fixed overhead incurred ($791,000)

Less Budgeted fixed overhead ($780,000)

Fixed-overhead volume variance $11,000 unfavorable

Therefore the company's fixed-overhead volume variance would be: $11,000 unfavorable

4 0
3 years ago
How do life expectancy at birth and political freedom change the relative ranking of living standards that real GDP per person​
irina [24]

Answer:

Answer is A.

Explanation:

they don't change

8 0
3 years ago
The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale
Vilka [71]

The Journal Entries to record the transactions for Wainwright Corporation in the month of March 2021 are as follows:

Journal Entries:

a. Debit Cash $600,000

Credit Common Stock $600,000

To record issuance of 60,000 shares of non-par common stock for cash.

b. Debit Equipment $100,000

Credit Cash $25,000

Credit Notes Payable $75,000

To record the purchase of equipment.

c. Debit Inventory $182,000

Credit Accounts Payable $182,000

To record the purchase of inventory on account.

d. Debit Accounts Receivable $270,000

Credit Sales Revenue $270,000

To record the credit sales for the month.

d. Debit Cost of Goods Sold $162,000

Credit Inventory $162,000

To record the cost of goods sold.

e. Debit Rent Expense $8,000

Credit Cash $8,000

To record the payment of rent on the warehouse building.

f. Debit Prepaid Insurance $8,050

Credit Cash $8,050

To record the prepayment of insurance for one year, from April 1, 2021.

g. Debit Accounts Payable $162,000

Credit Cash $162,000

To record payment on account.

h. Debit Cash $121,500

Credit Accounts Receivable $121,500

To record receipt of cash on account.

i. Debit Depreciation Expense $2,500

Credit Accumulated Depreciation $2,500

To record depreciation expense for the month.

Data Analysis:

a. Cash $600,000 Common Stock $600,000

b. Equipment $100,000 Cash $25,000 Notes Payable $75,000

c. Inventory $182,000 Accounts Payable $182,000

d. Accounts Receivable $270,000 Sales Revenue $270,000

d. Cost of Goods Sold $162,000 Inventory $162,000

e. Rent Expense $8,000 Cash $8,000

f. Prepaid Insurance $8,050 Cash $8,050

g. Accounts Payable $162,000 Cash $162,000

h. Cash $121,500 Accounts Receivable $121,500

i. Depreciation Expense $2,500 Accumulated Depreciation $2,500

Read more about recording journal entries at brainly.com/question/17201601

4 0
2 years ago
Department A had no Work-in-Process at the beginning of the period, 1,000 units were completed during the period, 200 units were
statuscvo [17]

Answer:

Materials total cost equal to 2,000 the correct option is C

C. $2,000

Explanation:

<u>Conversion Cost</u>

<u>conversion cost</u> = labor + overhead

CC = 5,000 + 4,400 = <u>9,400</u>

complete during the period   1,000 units

ending inventory                       200 units 50%

<u>Equivalent units:</u>

completed + ending worked portion

1,000 + 200 x 50% = 1,000 + 100 = <u>1,100</u>

CC equivalent unit cost  9,400/1,100 x 100 = 854.55

<u>Materials</u>

<u>Cost     $ 12,000</u>

<u>Equivalent units</u>

completed  1,000

ending          200 at 100%

completed + ending times added portion

1,000 + 200 x 100 % = 1,200

Equivalent unit cost: 12,000 / 1,200 = 10

Ending inventory 200 x 10 =         2,000

5 0
3 years ago
At December 31, 2019, Skysong Corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 108,966
Fittoniya [83]

Answer:

Earnings per share from continuing operations is $3.41 per share.

Earnings per share from discontinued operations is -$0.53 per share.

Explanation:

The earnings per share data can be computed by preparing a partial income statment as follows:

Skysong Corporation

Income Statement (Partial)

As at December 31, 2019

<u>Particulars                                                                            Amount ($)   </u>

<u>Continuing operations</u>

Income from continuing operations before taxes           22,887,900

Taxes on continuing operations (22,887,900 * 35%)    <u>   (8,010,765)  </u>

Income from continuing operations after taxes                14,877,135

Preferred dividends declared                                        <u>   (1,089,660)  </u>

Income from continuing operations after pref. div.        <u>   13,787,475 </u>

<u>Discontinued operations</u>

Discontinued operations (loss before taxes)                    (3,284,900)  

Tax benefit on discontinued oper. (3,284,900 * 35%)      <u>    1,149,715  </u>

Discontinued operations (loss after taxes)                    <u>     (2,135,185) </u>

<u>Earnings per share:</u>

Continuing operations  (13,787,475 / 4,044,060)                      3.41

Discontinued operations (2,135,185 / 4,044,060)                    (0.53)

5 0
2 years ago
Other questions:
  • You are currently spending much​ time, effort and money on your education. economists call education an investment in
    7·1 answer
  • Question 13 a scientific theory is one that: is supported by many years of experimentation all supporting the hypothesis. is bas
    10·1 answer
  • According to economists, inflation is a. eliminated by the government. b. unavoidable, and therefore something beyond the contro
    13·1 answer
  • In January, a customer buys 100 shares of ABC stock at 450. Eleven months later in December, the stock is trading at $60. The cu
    6·1 answer
  • All of the following are forms of cognitive bias except:_____.
    14·1 answer
  • Drawing tree diagrams. After taking a course on statistics, 88% of students can successfully construct tree diagrams. Of those w
    9·1 answer
  • Gomez Company collected $19,200 on September 1, Year 1 from a customer for services to be provided over a one-year period beginn
    11·1 answer
  • Credit Losses Based on Credit Sales Lewis Company uses the allowance method for recording its expected credit losses. It estimat
    12·1 answer
  • A seller (or provider) of goods or services to a business organization is known as a:
    9·1 answer
  • The federal unemployment tax is levied on a.employers and is deducted from employees' earnings. b.employees and employers. c.emp
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!