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mestny [16]
4 years ago
14

Accounts receivable from sales transactions were $47,732 at the beginning of the year and $64,117 at the end of the year. Net in

come reported on the income statement for the year was $147,991. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method is Select the correct answer. $147,991 $164,376 $131,606 $16,385
Business
1 answer:
uysha [10]4 years ago
4 0

Answer:

The correct answer is $131,606

Explanation:

The indirect method involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.

First,  we must get the difference (change) in Accounts receivable from sales transactions

At the beginning of the year $47,732

At the end of the year $64,117

Increase of Accounts receivable $16385

It depends on the account if it is added or subtracted to net income. An Increase of Accounts receivable will be subtracted from net income.

Net income $147,991

Increase of Accounts receivable $-16385

Net cash $131,606

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frez [133]

Answer:

The correct answer is letter "B": LLC.

Explanation:

A Limited Liability Company (LLC) is a type of business organization where the owners do not share unlimited liability. This scenario implies that the owners are responsible for the liabilities of the entity according to their contribution. LLCs as considered individual firms with an individual tax identification number, bank account, and name.

3 0
3 years ago
Halpert Hardware Pros, an American retail store, buys most of its inventory from Asian countries. Halpert Hardware Pros would be
Naddika [18.5K]

Answer: rose

Explanation: In the given case, Halpert hardware imports from asian countries,that is, they are on the buying side of the transaction. Therefore, if the value of dollar rises in relation to the currencies of countries from which halpert buys than they will be able to purchase more quantity with the same amount of dollars.

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3 years ago
The gross profit percentage is the ratio to watch if you are worried about increased competition. If the company lowers its pric
jenyasd209 [6]

Answer:

decrease

Explanation:

As we know the gross profit is the net of sales and cost of goods sold.

Gross profit = Sales - Coast of Goods Sold

Lowering the price will decrease the sales value because sales is calculated by multiplying selling price per unit to number of units sold.

If we keep the cost of goods sold constant, then decrease in price will directly effect the gross profit and will reduce it too.

5 0
3 years ago
Jamie has been renting a ranch in Montana for years, but is ready for a change of scenery. She doesn't want to terminate her con
Ann [662]

Answer:

Acceptance

Explanation:

Since in the situation it is given that Jamie renting a ranch for a years to Montana but she is ready for change of scenery. also she dont want to end the contract entirely so instead of ending the contract she asked the same to his brother. His brother agrees to the contract so here the given situation represent an example of an acceptance as he is ready and responsible to the terms of the contract

5 0
3 years ago
Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather t
Anettt [7]

Please see the complete question below.

Agnessa let the management of Acme Global know that she will retire next year. Agnessa job requires specialized skills. Rather than advertise the job, management has the human resource management department look through its files for people in the organization who have the needed skills. This recruitment method is known as ______.

A. open recruitment

B. employee referrals

C. closed recruitment

D. targeted recruitment

Answer:

The answer is closed recruitment (option C)

Explanation:

Closed Recruitment can be defined as the type of recruitment that takes place 'in house'. In other words, there is no need for an external advertisement of vacancy because candidates needed to fill in vacant job roles or positions of a firm are selected from the existing pool of employees in the firm. Firms carry out closed recruitment by looking into the files of people who have the skills needed to occupy the vacant role and selecting/appointing who is best fitted for the role.

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