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shusha [124]
2 years ago
15

Rebecca sells her personal scooter for $550. she purchased the scooter for $700 three years ago. she also sells a painting for $

1,200 which she acquired five years ago for $900.
Business
1 answer:
likoan [24]2 years ago
8 0
Rebecca sells her personal scooter = $550
And she purchased three years ago for $700
loss in the selling of scooter = $700 - $550
 = $150
she sell painting for $1200
and he purchased that painting five years ago = $900
profit = $1200 - $900
$300
So $300 - $150  = $150
She still get benefit on selling both things
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In preparing a company's statement of cash flows for the most recent year, the following information is available:
Butoxors [25]

Answer:

- $ 138,000

Explanation:

The investment activities includes the transaction done on purchasing the equipment and selling the land.

Thus, for the given question

The list of investment activities:

Purchase of Equipment = - $ 149,000  

Proceeds from Sales = $ 130,000  

Purchase of Land = - $ 119,000

here, the negative sign depicts the amount is paid

thus, the net cash flow from the investment activities

= - $ 149,000 + $ 130,000 + (- $ 119,000)

or

the net cash flow from the investment activities = - $ 138,000

3 0
2 years ago
Read 2 more answers
Gateway Ltd sets up a company and in the first nine days of trading the following transactions occurred
valina [46]

1. The completion of the relevant ledger accounts for Gateway Ltd is as follows:

<h3>Cash Account</h3>

Date            Account Titles             Debit       Credit

January 1: Common Stock          $10,000

January 2: Inventory                                     $4,000

January 3: Delivery Van                               $2,000

January 5: Sales Revenue           $1,500

January 7: Accounts Payable                        $800

January 8: Rent Expense                              $200

Balance                                                       $4,500

<h3>Accounts Receivable</h3>

Date            Account Titles             Debit       Credit

January 6   Sales Revenue           $5,000

<h3>Inventory</h3>

Date            Account Titles             Debit       Credit

January 2    Cash                          $4,000

January 4    Accounts Payable       1,000

January 6   Cost of goods sold                   $5,000

<h3>Delivery Van</h3>

Date            Account Titles             Debit       Credit

January 3    Cash                         $2,000

<h3>Accounts Payable</h3>

Date            Account Titles             Debit       Credit

January 4    Inventory                                  $1,000

January 7    Cash                          $800

Balance                                         $200

<h3>Common Stock</h3>

Date            Account Titles             Debit       Credit

January 1     Cash                                         $10,000

<h3>Sales Revenue</h3>

Date            Account Titles             Debit       Credit

January 5   Cash                                            $1,000

January 6   Accounts Receivable                  5,000

Balance                                         $6,000

<h3>Cost of goods sold</h3>

Date            Account Titles             Debit       Credit

January 6    Inventory                  $5,000

<h3>Rent Expense</h3>

Date            Account Titles             Debit       Credit

January 8   Cash                            $200

2. The extraction of a trial balance for Gateway Ltd is as follows:

<h3>Trial Balance</h3>

As of January 9

Account Titles             Debit       Credit

Cash                            $4,500

Accounts Receivable   5,000

Delivery Van                2,000

Accounts Payable                         $200

Common Stock                           10,000

Sales Revenue                             6,500

Cost of goods sold     5,000

Rent Expense                200

Totals                      $16,700   $16,700

<h3>Data Analysis:</h3>

January 1: Cash $10,000 Common Stock $10,000

January 2: Inventory $4,000 Cash $4,000

January 3: Delivery Van $2,000 Cash $2,000

January 4: Inventory $1,000 Accounts Payable $1,000

January 5: Cash $1,500 Sales Revenue $1,500

January 6: Accounts Receivable $5,000 Sales Revenue $5,000

January 7: Accounts Payable $800 Cash $800

January 8: Rent Expense $200 Cash $200

Learn more about extracting a trial balance at brainly.com/question/14604253

6 0
2 years ago
Builder's Outlet just hired a new chief financial officer. To get a feel for the company, she wants to compare the firm's sales
Shkiper50 [21]

Answer:

The answer is: Income statement

Explanation:

As she wants to get information on sales and costs, the Income statement is the statement that she should looking for. With the Balance sheet statement, it only shows information on the financial position reporting the firm's assets, liabilities and owner's equity at a specific point in time rather than the sales and costs firgures during the reporting period.

Furthermore, she should opt for Income statement rather than the common-size income statement because the common-size income statement hardly illustrates any trend during the recent years/ reporting periods, instead, it is only shown each revenue and cost items as percentage of total sales in a specific period.

In the income statement, there should be enough information for the new CFO to find trends on revenues and costs (if any) because the revenue and cost items is detailed enough and at least it should be given the comparision between sales & costs of the reporting period versus the firgures of the previous reporting period.  

8 0
3 years ago
to have ____ advantage means to be able to produce more using the same resources. To have _____ advantage means to have a lower
Anestetic [448]

Answer:

Absolute, Comparative, Opportunity cost, Gains of trade, Not possible

Explanation:

The terms that will be filled in these blanks are economic terms that are used often in the business. The completed sentences have been written below -

  • To have absolute advantage means to be able to produce more using the same resources.
  • To have comparative advantage means to have a lower opportunity cost.
  • Comparative advantage is the basis for gains of trade.
  • It is not possible for one producer to have a comparative advantage for every good.
3 0
3 years ago
Which of the following are characteristic s of customs and usage?
GaryK [48]

Answer:

primary source of law, oral, and repetitive

Explanation:

In legal terms, custom and usage is a doctrine widely used in commercial law, since they are a long established practice which many courts consider unwritten laws. Laws are formal and always written, but custom and usage is not formal nor written.

Usage refers to the general repetition of a certain act, while custom refers to the rules that result from such repetitions and usage.

5 0
3 years ago
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