All categories

3 years ago

Until the mid-1700s, the 13 colonies often had diverse histories and economies, which provided ___________.

1 answer:

4 0

Until the mid-1700s, the 13 colonies often had diverse histories and economies, which provided <span>little incentive for them to join together to meet shared goals.
Since these colonies were so different, they didn't have any common cause or a reason to band together so as to achieve such common goals.
</span>

You might be interested in

Blossom Corporation’s balance sheet at the end of 2019 included the following items.

RoseWind [281]

The preparation of a statement of cash flows and balance sheet for 2020 for Blossom Corporation is as follows:

1. BlossomCorporation Corporation

<h3>Statement of Cash Flows</h3>

For the year ended December 31, 2020

<h3>Operating Activities:</h3>

Net Income $55,870

Add Non-Cash Expense:

Loss from sale of equipment 230

Depreciation Expenses 16,540

Amortization Expense 2,500

Adjusted cash $75,140

Changes in working capital:

Increase in current assets (29,000)

Increase in current liabilities 14,770

Cash from operations $60,910

<h3>Investment Activities:</h3>

Sale of equipment $11,770

Building cost (28,770)

Investment in stock (16,000)

Cash from investments ($33,000)

<h3>Financing Activities:</h3>

Bonds payable $51,770

Dividends payment (30,000)

Treasury stock (11,000)

Cash from financing $10,770

Net cash flow $38,680

2. Blossom Corporation

<h3>Balance Sheet at the end of 2020</h3>

Current assets $304,450

Land $31,770

Buildigs $150,540

Equipment $70,000

Accum. depr.-buildings ($37,540)

Accum. depr.-equipment ($12,000)

Long-term stock investment 16,000

Patents 41,770

Amortization of Patents (2,500)

Total assets $562,490

Current liabilities $166,540

Bonds payable $153,540

Common stock $170,770

Retained earnings $71,640

Total liabilities + Equity $562,490

<h3>What are Statements of Cash Flows and Balance Sheets?</h3>

Statements of cash flows and balance sheets are two of the main financial statements prepared periodically by an entity.

The statement of cash flows shows the cash flows from operating, investing, and financial activities.

The balance sheet shows the financial position (assets, liabilities, and equity) of an entity at a point.

<h3>Data and Calculations:</h3>

Blossom Corporation

<h3>Balance Sheet at the end of 2019</h3>

Current assets

(Cash $82,000) $236,770 Current liabilities $151,770

Land 31,770 Bonds payable 101,770

Buildings 121,770 Common stock 181,770

Equipment 91,770 Retained earnings 45,770

Accum. depr.-buildings (31,770 ) Total $481,080

Accum. depr.-equipment (11,000 )

Patents 41,770

Total $481,080

Ending Cash balance = $120,680 ($82,000 + 38,680)

Current assets = $304,450 (236,770 + $29,000 + $38,680)

Land = $31,770

Buildigs = $150,540 ($121,770 + $28,770)

Equipment = $70,000 ($91,770 - $21,770)

Accum. depr.-buildings = $37,540 (31,770 + 5,770)

Accum. depr.-equipment = $12,000 (11,000 - 9,770 + 10,770)

Long-term stock investment 16,000

Patents 41,770

Amortization of Patents (2,500)

Current liabilities $166,540 (151,770 + 14,770)

Bonds payable $153,540 (101,770 + 51,770)

Common stock $170,770 (181,770 - 11,000)

Retained earnings $71,640 (45,770 + $55,870 - 30,000)

Learn about preparing statements of cash flows at brainly.com/question/25645312

#SPJ1

4 0

2 years ago

The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except

garik1379 [7]

Answer:

A Schedule Summarizing Operating, Investing, and Financing Cash Flows, using the T-account approach:

Operating Investing Financing

Debit Credit Debit Credit Debit Credit

1. Equipment $71,000

2. Note Payable $13,500

3. Common Stock $20,000

4. Cash Dividends $22,800

5. Accounts Payable $2,700

6. Income Tax Expense $4,000

7. Interest Expense $3,000

8. Net Income $53,720

9. Depreciation $21,280

10. Tax & Interest $7,000

11. Accts receivable $13,500

12. Inventory $6,750

13. Salaries Payable $1,350

Total inflows/

outflows $83,350 ($26,950) ($71,000) $20,000 ($39,300)

Net cash from $56,400 ($71,000) ($19,300)

Operating activities $56,400

Investment activities ($71,000)

Financing activities ($19,300)

Net cash flows ($33,900)

Explanation:

a) Data and Calculations:

1. Current Year Prior Year

Balance Sheet

Assets

Cash $ 78,900 $ 99,300

Accounts Receivable 108,000 94,500

Merchandise Inventory 81,000 87,750

Property and Equipment 152,000 81,000

Less:

Accumulated Depreciation (43,280) (22,000)

Total Assets $ 376,620 $ 340,550

Liabilities:

Accounts Payable $ 13,500 $ 16,200

Salaries and Wages Payable 2,700 1,350

Notes Payable, Long-Term 67,500 81,000

Stockholders’ Equity:

Common Stock 128,000 108,000

Retained Earnings 164,920 134,000

Total Liabilities &

Stockholders’ Equity $ 376,620 $ 340,550

2. Current Year Income Statement

Sales $ 340,000

Cost of Goods Sold 180,000

Depreciation Expense 21,280

Other Expenses 85,000

Net income $ 53,720

3. The Wickersham Brothers Inc.'s Statement of Cash Flows is one of the three main financial statements that the management of Wickersham Brothers Inc. must prepare and present to the stockholders of the company and the general public. It details the Wickersham's cash flows under the operating activities, investing activities, and financing activities sections.

4 0

4 years ago

An industry is considered to be global to the extent that its industry position in one country is dependent upon the industry po

Minchanka [31]

Answer:

False.

Explanation:

False, Because a global company is the one that operates in different countries. It does not have to depend on the position of industry in other countries. If a company is operating in different countries then it is a global company. Moreover, in the case of a global company, the company sells its product in that country without changing its quality. For example, a global company selling soda in different countries. In this case, the company will not compensate for its product according to the culture of that country rather it will impose its business model.

5 0

3 years ago

What was a major result of Henry Ford's innovative manufacturing technique?

NeTakaya

B) The sale price of cars went down.

8 0

3 years ago

Which of the following is (are) example(s) of a mixed cost? I. A building that is used for both manufacturing and sales activiti

Angelina_Jolie [31]

Answer:

II only;

An employee's compensation, which consists of a flat salary plus a commission is an example of mixed cost.