Answer:
prepaid expense 15,500 debit
prepaid insurance 15,500 credit
Explanation:
<em>The amount of unexpired insurance will be the ending balance of the account</em>
4,500 debit
+ 16,600 premium paid
+/- adjustment
5,600 ending
4,500 + 16,600 - 5,600 = 15,500
Answer: $535,251.25
Explanation:
Cash flow to investors from operating activities is calculated by:
= EBIT + Depreciation - Taxes
EBIT = Sales - Cost of goods sold - Depreciation
= 1,484,000 - 803,000 - 175,000
= $506,000
Taxes = Tax rate * (EBIT - Interest)
= 35% * (506,000 - 89,575)
= $145,748.75
Cash flow to investors = 506,000 + 175,000 - 145,748.75
= $535,251.25
Answer:
Intangible assets
Explanation:
A classified balance sheet is a financial statement that classifies the components in the balance sheet into different groups. For example, assets are classified into current or non current asset
Current assets are all the assets that are either used by a company or sold in the course of the year of the company.
Current assets include
- cash, cash equivalents
- accounts receivable
- stock inventory
- marketable securities
- pre-paid liabilities
Intangible assets are classified as noncurrent (long-term) assets
Answer:
A) an employee of the firm with a degree in communications whose job is the graphic design of the investment adviser's research publications
Explanation:
In this case, the employee who performs tasks related to graphic design, but doesn't carry out any function similar to an associate partner or director of an investment adviser, is not considered a "person associated with an investment adviser". Even if that person actually worked for the investment adviser, his/her functions are considered clerical, the same as a secretary or receptionist.
Answer:
B) Investing Activities
Explanation:
Investing activities deal with cash transactions involving movement of items of Property, Plant and Equipment. These transactions include purchase costs and sale proceeds of assets.
