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
Sindrei [870]
3 years ago
13

Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respec

tively. Income reported on the income statement for the year was $280,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is a. $280,000. b. $290,000. c. $350,000. d. $270,000.
Business
1 answer:
vichka [17]3 years ago
5 0

Answer:

b. $290,000

Explanation:

The computation of the cash flows from operating activities to be reported on the statement of cash flows is shown below:

= Net income reported on the income statement + decrease in account receivable

where,

Net income reported = $280,000

And, the decrease in account receivable is $10,000 ($70,000 - $80,000)

So, the cash flow from operating activities

= $280,000 + $10,000

= $290,000

The decrease in account receivable implies that more cash is come so it would be added and the same is shown above

You might be interested in
Hal has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuition. E
Nonamiya [84]

Answer: The answer is D, $13,615.

7 0
2 years ago
If shell decided to open a new service station I a rural area of uk, which was not well serviced with filling stations, it would
timofeeve [1]

Answer:

The stakeholders are ; Customers, shareholders/investors, local community, suppliers, employees, Government, competitors, creditors etc.

Explanation:

Stakeholders are a group of people or individuals within a locality, whose interest is Paramount to the survival of an organization.

There are two types of stakeholders, which are;

Internal stakeholders : These group of people or individuals are part of the organization . eg employees, board of directors, managers. Etc.

External stakeholders: These group of people or individuals are not part of the organization but have interest in its performance. Eg local community, media, consumers, suppliers etc.

There are also primary stakeholders and secondary stakeholders.

Primary stakeholders. I.e those who have financial interest in an organization. Eg creditors, shareholders/investors etc.

Secondary stakeholders. i.e those who do not have financial interest but whose decision is influential. Eg trade union, government body etc.

As in the scenario above, impact of shell on several stakeholders are enumerated below;

-Employees: There must be job security for employees, clean and safe working environment and there must be regular source of income with which salaries will be paid.

-Shareholders/Investors:They expect maximum returns on their investment in form of dividends. They also expected to be given preferential treatment in terms of lower prices and little or no value lost on their investment.

-Customer: They expect that products to be sold are reliable and safe for consumption and at fair prices.

-Suppliers: Price of product supplied should be agreed by parties involved. Suppliers also expect regular and frequent orders from them.

-local community: These people expect steady employment for their children, provision of social amenities like tarred roads, community hall, cinema hall etc and avoidance of noise and environmental pollution.

-Competitors: There should be healthy rivalry among producers of similar products and all element of demarketing should be avoided.

-Government ; Government expect from shell constant and regular payments of taxes, compliance with local laws and provision of corporate social responsibilities to the host community.

-Creditors: The creditors would expect adequate returns on their loan investment, absence of failure to payback money owned them and repayment of money owed to them at the agreed date.

4 0
3 years ago
Bryn, Cornell, and Duke are general partners in Equity Lending, a consumer credit, mortgage, and investment firm. Their agreemen
Viefleur [7K]

Answer:

C. The termination of the firm's legal existence.

Explanation:

General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.

According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.

Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.

3 0
3 years ago
We cannot provide any information about your refund. be sure to: verify your filing date; check with your tax preparer if you fi
stira [4]
Verify your filing date...
5 0
3 years ago
ABC Company received $9,631 for its 5-year, 10% bonds with a total face value of $10,000. The market rate of interest was 11%. T
Anastaziya [24]

Answer:

The correct answer is Option A.

Explanation:

The effective interest rate (EIR) method is used when a bond is purchased at a discount or premium.

In the case of the question, the bond was purchased at $9,631 with a face value of $10,000. Interest expense is calculated as the bond price multiplied by the market rate, i.e. $9,631  x 11% = $1,059.41.

Therefore, ABC Company would record $1,059 on the first annual interest payment date using the effective-interest method.

5 0
3 years ago
Read 2 more answers
Other questions:
  • Two alternatives, code-named X and Y, are under consideration at Guyer Corporation. Costs associated with the alternatives are l
    6·1 answer
  • Pember Corporation started business in 2007 by issuing 200,000 shares of $20 par common stock for $36 each. In 2012, 30,000 of t
    13·1 answer
  • Everything Looks Like a Nail, Inc. is a manufacturing company that produces hammers. The company faces a number of different fix
    12·1 answer
  • Smitty Museum purchased the copyright to a piece of artwork for $925,000. Smitty plans to reproduce 2.1 million posters of the a
    8·1 answer
  • This line consists of single-machine stations and is almost balanced (i.e. station rates are nearly equal). A manufacturing engi
    5·1 answer
  • An increase in the cost of producing video tape shifts the supply curve of video tape ________ and shifts the demand curve for v
    14·1 answer
  • 4.
    6·1 answer
  • Ranger Corporation has decided to invest in renewable energy sources to meet part of its energy needs for production. It is cons
    15·1 answer
  • Provo, Inc., had revenues of $10 million, cash operating expenses of $5 million, and depreciation and amortization of $1 million
    11·1 answer
  • Bank Three currently has $600 million in transaction deposits on its balance sheet. The Federal Reserve has currently set the re
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!