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tatiyna
3 years ago
12

Consider the following items: (a) Decrease in accounts receivable (f) Gain on the sale of equipment (b) Issuance of common stock

(g) Depreciation expense (c) Increase in interest receivable (h) Payment of dividends (d) Purchase of land (i) Decrease in utilities payable (e) Decrease in accounts payable (j) Increase in inventory How many of these items would be added to net income when using the indirect method to prepare the operating activities section of the statement of cash flows
Business
1 answer:
Jlenok [28]3 years ago
8 0

Answer:

(a) Decrease in accounts receivable

(g) Depreciation expense

Explanation:

Operating activities: It involves those transactions that after net income impact the working capital. This will subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and a rise in current liabilities.

It will manage some adjustments in working capital. For addition, the depreciation expenses are added to the net profit and the loss on the selling of assets is added, while the benefit on the sale of assets is deducted

Based on the above explanation, the items which are to be added in the operating activities are

(a) Decrease in account receivable

(g) depreciation expense

Out of all Other items would be deducted and all other items belong to investing and financing activity

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Sheffield borrowed $701000 on October 1, 2017 and is required to pay $721000 on March 1, 2018. What amount is the note payable r
Georgia [21]

Answer:

On October 01, 2017

The amount actually borrowed that is $ 701,000 will be recorded as liability/note payable on october 01, 2017. The following accounting entry will be passed

Debit Cash Asset           $ 701,000

Credit Note payable       $ 701,000

Interest recognized from October 1 to December 31, 2017

The premium amount paid on redemption will be recorded as interest over the period of time. The interest amount is

Interest = 721,000 -701,000 = $ 20,000

So this above calculated expense will be recognized as an expense over loan period.

5 0
3 years ago
Describe what an insurance company does and sells without using the word insurance
Crank
If something goes wrong, the company will make sure you're not completely screwed.
8 0
3 years ago
The management of Kabanuck Corporation is considering dropping product V41B. Data from the company's accounting system appear be
Makovka662 [10]

Answer:

$191,500

Explanation:

If the item is not dropped:

Loss = Sales - Variable expenses - Fixed manufacturing expenses - Fixed selling and administrative expenses

       = $923,000 - $405,500 - $337,000 - $244,000

       = (63,500) loss

Fixed mfg. expenses remaining:

= Fixed manufacturing expenses - Avoidable Fixed manufacturing expenses

= $337,000 - $207,500

= $129,500

Fixed selling and administrative expenses remaining:

= Fixed selling and administrative expenses - Avoidable Fixed selling and administrative expenses

= $244,000 - $118,500

= $125,500

Loss in expenses remaining if item is dropped :

= Fixed mfg. expenses remaining + Fixed selling and administrative expenses remaining

= $129,500 + $125,500

= ($255,000)

Overall net operating income would decrease by:

= Loss in expenses remaining if item is dropped - Loss in expenses if item is not dropped

= $255,000 - $63,500

= $191,500

5 0
3 years ago
Integrated marketing communications is a strategic approach designed to achieve the objectives of a marketing campaign using the
MakcuM [25]
<h2>The given statement is true.</h2>

Explanation:

  • In marketing this is a holistic approach for communicating product promotion to the customer
  • Available in both offline and online
  • Used for creating seamless customer experience
  • Applicable for One-to-one-marketing, direct marketing and mass marketing
  • It consists of advertising, public relation sales promotion, etc
  • This is done to attract customer and bring more business
  • This has an ability to reach many customers through variety of channel
  • It can attract all types of customers
4 0
3 years ago
At the start of football season, the ticket office gets very busy the day before the first game. Customers arrive at the rate of
ipn [44]

Answer:

(a) 3.2

(b) 10 minutes

(c) 0.8

Explanation:

Mean number of customer in service:

= Arrival rate ÷ service rate

= 24 in 60 min ÷ 30 in 60 min

= 24 ÷ 30

= 0.8

a) Average number of people in line:

= (Mean number of customer in service × arrival rate) ÷ (Service rate - arrival rate)

= 0.8 × (24 ÷ 6 )

= 3.2

b) Average time spend at the ticket office is = 10 minutes

c) Proportion of time server is busy:

= Arrival rate ÷  service rate

= (24 in 60 min ÷  30 in 60 min)

= 24 ÷ 30

= 0.8

7 0
3 years ago
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