Yes. He don’t have to pay and the bartender could get arrested for failing to renew the licence
Answer:
An advisory board
Explanation:
An advisory board is an entity which provides non-binding strategic advice to a company, organization, or foundation management. The informal existence of an advisory board allows the board of directors greater flexibility in structure and management compared to that.
Answer:
$274,000
Explanation:
As per the data given in the question,
Particulars Amount
Inventory balance before considering following items $215,000
Adjustments:
1) According to FOB destination, ownership passes to buyer at receipt of goods $-
2) According to FOB shipping point, ownership passes to buyer at the point of shipment $27,000
3) According to FOB destination, ownership passes to buyer at receipt of goods
$32,000
4) As goods received before period close, no adjustment is required $-
5) According to FOB shipment, ownership passes to buyer at receipt of shipment $-
Correct inventory amount to be reported in Kwok's 2021 balance sheet
= ( $215,000 + $27,000 + $32,000) = $274,000
Answer:
1) For the equipment that was sold, determine its original cost, its accumulated depreciation, and the cash received from the sale.
- original cost = $9,800
- accumulated depreciation = $1,020
- cash received = $5,980
2) Sanchez Company uses the indirect method for the Operating Activities section of the cash flow statement. What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Operating Activities?
- the loss on sale of equipment ($2,800) should be added to the cash flows from operating activities.
3) What amount related to the sale would be added or subtracted in the computation of Net Cash Flows from Investing Activities?
- the cash received ($5,980) should be added to the cash flow from investing activities
Explanation:
equipment cost = beginning equipment - ending equipment = $20,000 - $10,200 = $9,800
equipment's accumulated depreciation = beginning accumulated depreciation + depreciation expense - ending depreciation = $1,950 + $860 - $1,790 = $1,020
book value = $9,800 - $1,020 = $8,780
cash received = book value - loss = $8,780 - $2,800 = $5,980
