1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
riadik2000 [5.3K]
3 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]3 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

You might be interested in
The information security function can be placed within the
Furkat [3]
Records or flash drive
3 0
3 years ago
The foreign exchange market is a market for converting the currency of one country into that of another country.
3241004551 [841]

Answer:

a. True

Explanation:

The foreign exchange market is a market for converting the currency of one country into that of another country.

For example, the conversion of dollars of the United States of America can be converted into naira (Nigeria) at the foreign exchange market.

Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.

The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis that states that asset (share) prices reflect all information and it is very much impossible to consistently beat the market.

Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.

4 0
2 years ago
What is a market economy regulated by?
miskamm [114]

Answer:

Producers and consumers :)

Explanation:

Market economies are run by buyers and sellers, there is no government involved.

6 0
3 years ago
Splish Brothers Inc. began operations on April 1 by issuing 52,300 shares of $5 par value common stock for cash at $15 per share
Ahat [919]

Answer:

Date    Account titles and Explanation               Debit        Credit

Apr 1    Cash                                                        $679,900

                  Common stock                                                    $261,500

                  (52,300*5)

                  Paid in common stock in excess of par             $418,400

                  (52,300*$13-$5)

            (To record common stock issued)

Apr 19   Organisation expenses                         $28,900

                  Common stock                                                     $9,000

                  (1800*5)

                  Paid in common stock in excess of par              $19,900

            (To record issuance of comm1,100on stock for attorney.s fees)

Apr 19    Cash (1,100*$6)                                      $6,600

                  Preferred stock (1,100*$1)                                     $1,100

                  Paid in preferred capital in excess of par            $5,500

            (To record common preferred stock for cash)

7 0
3 years ago
I had a full time job this summer where i earned $10 per hour. it costs me about $4 in gas money for every round trip to and fro
Akimi4 [234]
<span>The opportunity cost per week to attend class is forty four dollars. Ten dollars per hour while you are attending class. If you were not attending class, you could be working. Ten dollars for the drive to school and four dollars for the gas.</span>
3 0
3 years ago
Other questions:
  • Gordon Corporation produced 10,000 digital watches in the current year. Variable costs are $8 per watch. Overhead assigned is $2
    15·1 answer
  • Which group of americans saw job opportunities expanded during wwii?
    7·1 answer
  • If a store adds 50 chairs to its current inventory, the total number of chairs will be the same as three-halves the current inve
    6·1 answer
  • Courtney recently ordered a few books online. However, she received the wrong order. She was completely dissatisfied and returne
    5·2 answers
  • Calculate the present value of $4,000 received five years from today if your investments pay (Do not round intermediate calculat
    15·1 answer
  • Maryland Incorporated produces toys. Total manufacturing costs are $ 370 comma 000 when 60 comma 000 toys are produced. Of this​
    5·1 answer
  • Which of the following decision-making perspectives assumes that consumers often make purchases and reach decisions based on the
    7·1 answer
  • A(n) ______ is a network that links the intranets of business partners via the Internet in such a way that the result is a virtu
    7·1 answer
  • More businesses and organizations, such as Amazon, Uber, MTA, an airline industry, professional sport organizations such as MLB
    8·1 answer
  • In 2019, pastured eggs sold for more than twice the price of cage-free eggs and almost 5 times the price of conventional eggs, m
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!