Typical farm vehicles go slower and are expensive so you must drive slowly to make sure you don't run into it as Well as be polite
Answer:
The correct option is D,$402,000.
Explanation:
In determining the cash flow provided by operating activities,we need to adjust the net income for effects of non cash items reported.It is important to note that the reverse of the earlier treatment of the items is what is required now.For instance depreciation and amortization were deducted in income statement,for cash flow purposes we need to add both to net income.
Net income $315,000
add depreciation $90,000
amortization $15,000
loss on sale of equipment $9,000
less gain on sale of building($27000)
Cash flow from operations $402,000
The cash flow from operating activities as adjusted is $402,000.
Answer:
D) $8,040
Explanation:
<u>Credit Sales Method:</u>
Bad Debt Losses = 3% of Credit Sales
Bad Debt Losses = 0.03 x $588,000
Bad Debt Losses = $17,640
<u>Adjusted balance in the Allowance for Doubtful Accounts:</u>
Bad Debt Losses - (uncollectible accounts receivable - Allowance for Doubtful Accounts)
$17,640 - ($24,000 - $14,400)
$17,640 - $9,600
$8,040
Answer:
$559,000
Explanation:
Data provided as per the question below:-
Sales = $915,000
Variable cost of goods sold = $253,000
Fixed cost of goods sold = $103,000
The computation of gross margin is shown below:-
Gross Margin = Sales - Variable cost of goods sold - Fixed cost of goods sold
= $915,000 - $253,000 - $103,000
= $915,000 - $356,000
= $559,000
