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hammer [34]
3 years ago
9

Cordell Inc. experienced the following events in 2018, its first year of operation:

Business
1 answer:
olga_2 [115]3 years ago
6 0

Answer:

Cordell Inc.

a. Events that result in revenue or expense recognition:

2. Performed services on account for $82,000.

5. Paid $53,000 cash for other operating expenses.

6. Performed services for $19,000 cash.

7. Recognized $3,500 of accrued utilities expense at the end of the year.

b. The amount of net income reported on the 2018 income statement:

$44,500

c. The events that affect the statement of cash flows:

1. Received $40,000 cash from the issue of common stock.

3. Paid a $6,000 cash dividend to the stockholders.

4. Collected $76,000 of the accounts receivable.

5. Paid $53,000 cash for other operating expenses.

6. Performed services for $19,000 cash.

d. The amount of cash flow from operating activities reported on the 2018 statement of cash flows:

$42,000

Explanation:

Data and Calculations:

a) Revenue

Event 2.  $82,000

Event 5.   (53,000)

Event 6.     19,000

Event 7.     (3,500)

b) Net Income $44,500

c) Cash flow from operating activities:

Event 4. Collection from Accounts Receivable $76,000

Event 5. Payment for operating expenses      ($53,000)

Event 6. Cash Receipts for services                  $19,000

d) Net Cash from operating activities               $42,000

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Korolek [52]

Answer:

Explanation:

The journal entries are shown below:

On April 5

Merchandise Inventory A/c $38,700

              To Accounts payable A/c $38,700

(Being calculator purchased on credit)

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Merchandise inventory A/c Dr $830

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(Being freight is paid by cash)

On April 7

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On April 8

Accounts payable A/c Dr $5,400

    To Merchandise Inventory A/c$5,400

(Being goods returned)

On April 15

Accounts payable A/c Dr $33,300 ($38,700  - $5,400)

     To Cash A/c   $32,301                   

    To Merchandise Inventory A/c $999 ($33,300 × 3%)

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3 0
3 years ago
In your own words, define Linear Regression. Describe an example of how
S_A_V [24]

Answer:

linear regression

Explanation:

Linear regression quantifies the relationship between one or more predictor variable(s) and one outcome variable. Linear regression is commonly used for predictive analysis and modeling. For example, it can be used to quantify the relative impacts of age, gender, and diet (the predictor variables) on height (the outcome variable). Linear regression is also known as multiple regression, multivariate regression, ordinary least squares (OLS), and regression. This post will show you examples of linear regression, including an example of simple linear regression and an example of multiple linear regression.

HOPE IT'S HEIP YOU

6 0
3 years ago
Free cash flow describes the net cash provided by operating activities after adjusting for A : current liabilities. B : both cap
Nikolay [14]

Answer:

The answer is B, both capital expenditure and dividends paid.

Explanation:

In the Statement os Cash Flow, cash provided by operating activities fails to take into account that a company must invest in a new property, plant, and equipment and must maintain dividends at current levels to satisfy investors.

Free cash flow describer the net cash provided by operating activities after adjusting for capital expenditures and dividens paid.

7 0
3 years ago
Jobs in the skilled labor category require what?
son4ous [18]
Minimum of 2 years word experience. :) 
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3 years ago
In a neoclassical economy, assume that the government lowers both government spending and taxes by $100 billion. If the marginal
Zigmanuir [339]

Answer:

rise by $40 billion

Explanation:

Calculation to determine what the investment will be

Investment=$100 billion*(100%-60%)

=$100 billion*40%

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3 0
3 years ago
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