What was required to make plantation cash crops a source of wealth?

Suppose we are looking at a cash flow statement constructed using the INDIRECT method. We see a NEGATIVE adjustment of $5000 rel

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Answer:

It implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.

Note: The correct answer is as stated above it is not included in the option. Kindly confirm the options again from your teacher.

Explanation:

Accounts payable refers to the amount of money a firm is owing its suppliers.

Account payable is one of the component of the current liabilities in the balance sheet, and non-cash current liability item that is adjusted for in the cash flow statement to arrive at net cash from operating activities when an indirect method is being used.

Since accounts payable is the amount of money a firm is owing its suppliers, a negative a NEGATIVE adjustment to its implies that company has paid its supplier the negative amount in the accounting period.

Therefore, a NEGATIVE adjustment of $5000 related to Accounts Payable implies that the firm paid $5,000 to its supplier this accounting period (e.g. year) out of the amount the firm is owing the supplier.

7 0

3 years ago

An individual taxpayer is selling her principal residence, which she has owned for ten years and lived in for nine years. What s

avanturin [10]

Answer:

Section 121 exclusion

Explanation:

In simple words, IRC section 121 requires a person to deduct up to $250,000 ($500,000 for dual filers) of profit from the selling (or exchange) of land that was purchased and utilized as a primary home for at minimum two of that five years preceding the sale. Thus, from the above explanation we can conclude that the correct answer is section 121 exclusion.

7 0

3 years ago

As the product manager for Whirlpools line of washing machines you are in charge of pricing new products. Your product team has

Alex17521 [72]

Answer:

The management should adopt skimming pricing strategy.

Explanation:

For the fact that this is a new technology and very difficult to be copied, the management should adopt skimming pricing strategy. This will allow them to charge high prices and make money in the market before their competitors starts making the same kind of washing machine. This product has benefits for the consumers as well as it consumes less water to clean the clothes so there is high probability of this machine is accepted even if the prices are exorbitantly higher and from this, its going to be demanded by many costomers.

7 0

3 years ago

Read 2 more answers

Prepare the December 31 adjusting entries for the following transactions with JE explanations. 1. Fees accrued but not billed, $

disa [49]

Answer:

Adjusting Entries

Date Description Debit Credit

1. December 31 Fees Revenue $6,300

Account Receivable $6300

2. December 31 Supplies Expense $3,790

Supplies Inventory $3,790

3. December 31 Wages Expense $2,700

Wages Payable $2,700

4. December 31 Depreciation Expense $1,650

Accumulated Depreciation $1,650

December 31 Rent Expense $10,800

Prepaid Rent $10,800

Explanation:

Supplies Expense = $4,750 - $960 = $3,790

Rent expired term is considered as there is a prepaid rent balance of $10,800

3 0

3 years ago

The staff training center at a large regional hospital provides training sessions in CPR to all employees. Assume that the capac

lys-0071 [83]

Answer:

Efficiency of the system = Actual output/ Effective capacity*100

Efficiency of the system = 850/950*100

Efficiency of the system = 0.894737*100

Efficiency of the system = 89.47%

Utilization of the system = Actual output/Design capacity*100

Utilization of the system = 850/1200*100

Utilization of the system = 0.708333*100

Utilization of the system = 70.83%

6 0

3 years ago