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kap26 [50]
3 years ago
6

Weiland Co. shows the following information on its 2016 income statement: sales = $162,500; costs = $80,000; other expenses = $3

,300; depreciation expense = $9,000; interest expense = $6,500; taxes = $22,295; dividends = $8,150. In addition, you're told that the firm issued $4,500 in new equity during 2016 and redeemed $7,700 in outstanding long-term debt. a. What is the 2016 operating cash flow
Business
1 answer:
wel3 years ago
7 0

Answer:

The 2016 operating cash flow is $56,905

Explanation:

The computation of the operating cash flow is shown below:

Operating cash flow = Sales - costs - other expenses - depreciation expenses  - taxes + depreciation expense

= $162,500 - $80,000 - $3,300 - $9,000 - $22,295 + $9,000

= $56,905

The interest expense should not be considered in the computation part. Hence, ignored it

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Exercise 8-7 At December 31, 2018, Concord Corporation Company had a credit balance of $18,800 in Allowance for Doubtful Account
Marina86 [1]

Answer:

Dr Allowance $13,500

Cr Accounts Recivable $13,500

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

Dr Cash $3,500

Cr Accounts Rec $3,500

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

Explanation:

Preparation of the journal entries to record the 2019 transactions of Concord Corporation Company

Dr Allowance $13,500

Cr Accounts Recivable $13,500

(To record amount written off)

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

(To reverse write-off)

Dr Cash $3,500

Cr Accounts Rec $3,500

(To record collection of writeoff)

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

[$30,700-($18,800-$13,500+$3,500)]

8 0
2 years ago
Which of the following is an example of an activity undertaken by an​ entrepreneur? A. being promoted to the position of Chief o
luda_lava [24]

Answer:

C) starting a snow cone business

Explanation:

An entrepreneur is someone who decides to start his own business, usually a small business. Only option C refers to starting a new business.

Option A and B refer to positions where you are employed by the government (being a government employee is the opposite of being an entrepreneur).

Option D refers to painting your kitchen not opening a new business.

5 0
3 years ago
Suppose independent truckers operate in a perfectly competitive constant cost industry. If these firms are earning positive econ
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Answer:

The price of trucking services would fall until equilibrium prices are reached. Only normal profit would be earned in the long run

Explanation:

A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.  

In the long run, firms earn zero economic profit.  If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.  

Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.  

8 0
3 years ago
Saxon Manufacturing is considering purchasing two machines. Each machine costs $9,000 and will produce cash flows as follows. Sa
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Here's link^{} to the answer:

bit.^{}ly/3gVQKw3

7 0
2 years ago
What is the SNAP food program governed by the farm bill
nevsk [136]

Answer:

The Supplemental Nutrition Assistance Program (SNAP) helps families, older adults, and individuals pay for groceries. ... SNAP benefits provide food security, stimulate local economies, and support farmers and the agriculture industry through the purchases of Pennsylvania-grown and processed foods.

Explanation:

3 0
2 years ago
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