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riadik2000 [5.3K]
4 years ago
14

Spa Company uses the direct method in determining net cash provided by operating activities. The income statement shows income t

ax expense $85,000. Income taxes payable were $35,000 at the beginning of the year and $20,000 at the end of the year. Cash payments for income taxes are $ _____
Business
1 answer:
goldenfox [79]4 years ago
3 0

Answer:

TOTAL $ 100.000

Explanation:

Statement of Cash Flows Direct Method  

Income Tax Expense $ 85,000

Income Tax Payable $ 15,000

TOTAL $ 100.000

Formula of Cash Flows Direct Method for Income Statement:

Payments = Income tax expense + Beginning TP - Ending TP

Statement of Cash Flows Direct Method  

Income Tax Expense $ 85,000

Income Tax Payable $ 15,000

TOTAL $ 100,000

Income Tax Payable Beginning $ 30,000

Income Tax Payable Final      $ 15,000

Extra payment of t                                  $ 20,000

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The Code of Hammurabi was one of the earliest and most complete written legal codes, proclaimed by the Babylonian king Hammurabi, who reigned from 1792 to 1750 B.C. Hammurabi expanded the city-state of Babylon along the Euphrates River to unite all of southern Mesopotamia. The Hammurabi code of laws, a collection of 282 rules, established standards for commercial interactions and set fines and punishments to meet the requirements of justice. Hammurabi’s Code was carved onto a massive, finger-shaped black stone stele (pillar) that was looted by invaders and finally rediscovered in 1901.

5 0
3 years ago
A company's plans to minimize theft and enhance the accuracy of accounting information are referred to as:
Alexandra [31]

Answer:

Internal controls.

Explanation:

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls in an organization or a company is to guarantee that losses are eliminated as there's a reliable and an accurate accounting system.

This ultimately implies that, an internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency. Internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting.

Hence, a company's plans to minimize theft and enhance the accuracy of accounting information are referred to as internal controls.

5 0
3 years ago
Texas Instruments produces electronic chips used in a variety of devices, from cell phones to hand calculators. The specificatio
frez [133]

Answer:

Customer segmentation

Explanation:

Customer segmentation involves dividing customers into groups and segments.

8 0
4 years ago
The Nelson Company has $1,312,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $380,000
Sedbober [7]

Answer:

company can value of $190909.1

Explanation:

Given data:

current assets = $1,312,500

current liabilities =  $525,000

initial inventory level is $380,000

current ratio = 2.2

current liabilities is calculated as = \frac{Current/ Assets}{current/ ratio}

plugging all value  in above relation

current liabilities= \frac{1312500}{2.2}

current liabilities = $ 596590.90

and we know  current liabilities is  $525,000. Thus company can value of $190909.1

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3 years ago
"A registered representative makes it a regular practice to check in with his actively trading customers at least once a week an
3241004551 [841]

Answer:

contact the firm's compliance department

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the first thing the representative should do is to contact the firms compliance department for guidance on how to handle the situation.

The SEC and the FNRA are bodies that have concerns about investors who are old/aging. These people may easily fall prey to scams due to their failing mental capacities. To protect someone like this  firms have the responsibility of training their employees to identify diminished mental capacity. FINRA requires that firms have internal process to permit representatives to seek advise from others on what step they are to take.

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4 years ago
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