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Andru [333]
3 years ago
8

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respec

tively. Income reported on the income statement for the year was $180,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is _________.
Business
1 answer:
Goryan [66]3 years ago
4 0

Answer:

$165,000

Explanation:

The computation of the cash flows from operating activities is shown below:

Cash flow from operating activities

Net income reported for the year = $180,000

Less: Increase in account receivable -$15,000 ($40,000 - $55,000)

Cash flow provided by operating activities $165,000

Since there is a $15,000 increase in account receivable and the same is deducted from net income so that the correct amount could arrive

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Use the following information for exercises 15 to 18 LO P2 The following information applies to the questions displayed below] O
Mrrafil [7]

Answer:

            Ernst Consulting

             Balance Sheet

For the Month Ended October 31, 202x

Assets:

Cash $12,650

Accounts receivable $12,800

Office supplies $2,850

Office equipment $17,530

Land $45,940

Total assets $91,770

Liabilities and stockholders' equity:

Accounts payable $8,110

Common Stock $83,540

Retained earnings $120

Total liabilities and stockholders' equity $91,770

Explanation:

I ordered the accounts and included a couple that were missing:

  • Cash 12,650
  • Accounts receivable 12,800
  • Consulting revenue 12,800
  • office supplies 2,850
  • Land 45,940
  • office equipment 17,530
  • Accounts payable 8,110
  • Cash dividends 1,570  
  • Common Stock 83,540
  • Rent expense 3,110
  • Salaries expense 6,490
  • Telephone expense 850
  • Miscellaneous expenses 660

First we need to determine net profit for the month:

Consulting revenue 12,800

Salaries expense -6,490

Rent expense -3,110

Telephone expense -850

Miscellaneous expenses -660

net profit = $1,690

retained earnings = net profit - dividends distributed = $1,690 - $1,570 = $120

7 0
3 years ago
When firms purchase new capital we call this _____
tatuchka [14]

Answer:

Business fixed investment

Explanation:

The <u><em>purchase by firms of new capital goods</em></u> such as machinery, factories, and office buildings. (Remember that for the purposes of calculating GDP, long-lived capital goods are treated as final goods rather than as intermediate goods.) Firms buy capital goods to increase their capacity to produce.

6 0
3 years ago
Read 2 more answers
Stock and bond markets:
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Stock markets is a stock exchange and a bond market is where dept securities are issues and traded
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3 years ago
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
Reika [66]

Answer:

485,000 units

Explanation:

The computation of the number of units manufactured is shown below:

= Number of units sold + ending finished goods units - beginning finished goods units

= 515,000 units + 87,000 units - 57,000 units

= 485,000 units

Basically we added the ending finished goods units and deduct the beginning finished goods units to the number of units sold                      

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3 years ago
Select all that apply.
uysha [10]
Set goals, develop team structure, create a unified commitment.
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