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3 years ago

10

When preparing the operating activities section of the statement of cash flows using the indirect method, non-operating gains ar

e added to net income. true or false

1 answer:

Lunna [17]3 years ago

4 0

Answer:

<em>True </em>

Explanation:

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Assume that Jack, Hal, and Sophia enter into a valid contract for the sale of the restaurant and for the covenant not to compete

Andrei [34K]

Answer: C. Reformation

Explanation: A non-compete agreement or clause is a legal binding entered into by two or more parties which restricts the parties from being in competition with the other usually through the sale of similar product. However, in the context above, since the non-compete clause has been breached by Jack, and the judge feels the time constraint in the clause was unreasonably long, The reformation process will be best to remediate the situation, which refers to the change or alteration of the terms of an existing document using the judicial process and requires the conformation of the parties involved.

6 0

2 years ago

Suppose Turkey has exports of 2 billion Turkish Lira, while its imports are 2 billion Turkish Lira. Calculate Turkey's "Index

Damm [24]

Answer:

40%

Explanation:

The index of openness measures how much a country is exposed to international trade. It is calculated by this formula:

Index of Openness= (Exports(X)+Imports (M))/GDP

Index of Openness= (2 billion+2 billion )/10 billion

Index of Openness= 0,4*100=40%

5 0

3 years ago

Floyd and Merriam start a partnership business on June 12, 2019. Their capital account balances as of December 31, 2020 stood as

Serga [27]

Answer:

d. Cash 27,000

Floyd, Capital 5,250

Merriam, Capital 1,750

Ramelow, Capital 20,000

Explanation:

First of all we need to calculate the total capital after admission

Total Capital after admission = $50,000 + $23,000 + $27,000 = $100,000

Share of Ramelow = Total Capital x Partnership share = $100,000 x 1/5 = $20,000

Actual Payment made by Ramelow = $27,000

Amount of goodwill paid by Ramelow = $27,000 - $20,000 = $7,000

This goodwill will be distributed between Floyd and Merriam as per their partnership ratio

Share of Goodwill ro Flyod = $7,000 x 3/4 = $5,250

Share of Goodwill ro Merriam = $7,000 x 1/4 = $1,750

3 0

2 years ago

When two proprietors decide to combine their businesses and form a partnership, gaap usually requires that noncash assets be tak

Tcecarenko [31]

When proprietors decide to combine their business and form a partnership, gaap usually requires that non cash assets be taken over at : C. fair market vale
The data will be used to calculate the percentages of ownership of each combined companies

hope this helps

8 0

3 years ago

Corporate governance is important to nations because: a. firms seek to invest in nations with national governance standards that

Mama L [17]

Answer:

Firms seek to invest in nations with national governance standards that are acceptable to them.

Explanation:

Corporate governance involves the way a company is been controlled by the owners or board of directors. It involves the rules by which workers abide and the hierarchy of workers.

Corporate governance is important to nations because in most cases it is the owners of a company that decide which country to invest in, and in most cases the investors critically check if the country has a suitable governing atmosphere for their business to run smoothly in.

6 0

2 years ago