The mayor gave the winner a blue ribbon which kind of complement is the word in bold

A comparative balance sheet for Culver Corporation is presented as follows.

laila [671]

Answer:

Increase in cash = $50,740

Explanation:

The statement of cash flows for 2020 can be prepared as follows:

Culver Corporation

Statement of Cash Flows

For December 31, 2020

Particulars $ $

Net income 127,440

Adjustment to reconcile net income:

Depreciation expenses (w.1) 26,740

(Increase) decrease in current assets:

Increase in accounts receivable (w.2) (15,740)

Decrease in inventory (w.3) 9,260

Increase (decrease) in current liabilities:

Decrease in accounts payable (w.4) (13,260)

Net cash from operating activities 134,440

Cash Flow from Investing Activities

Sales of land (w.5) 39,260

Purchase of equipment (w.6) (59,740)

Net cash from investing activities 20,480

Cash Flow from Financing Activities

Cash dividends paid (63,220)

Net cash from financing activities 63,220

Increase / (Decrease) in cash 50,740

Beginning cash balance 22,000

Ending cash balance  72,740

Workings:

w.1: Depreciation expenses = Accumulated Depreciation in 2020 - Accumulated Depreciation in 2019 = $70,220 - $43,480 = $26,740

w.2: Increase in accounts receivable = Accounts receivable in 2020 - Accounts receivable in 2021 = $83,220 - $67,480 = $15,740

w.3: Decrease in inventory = Inventory in 2020 - Inventory in 2019 = 181220 190480 = -$9,260

w.4: Decrease in accounts payable = Accounts payable in 2020 - Accounts payable in 2019 = ($35,220 - $48,480) = $13,260

w.5: Sales of land = Land in 2019 - Land in 2020 = ($111,480 - $72,220) = $39,260

w.6: Purchase of equipment = Equipment in 2020 - Equipment in 2019 = $261,220- $201,480 = $59,740

7 0

3 years ago

Warren corporation purchased a truck at a cost of $60,000. It has an estimated useful life of five years and estimated residual

s344n2d4d5 [400]

Answer:

What is the amount of depreciation that warren should record for year 3 under the straight-line depreciation method? $15500

Explanation:

Net Value Dep. year End Net value.

Year 1 55000 12000 43000

Year 2 43000 12000 31000

Year 3 31000 15500 15500

Year 4 15500 15500 0

6 0

3 years ago

Two models for department store success seem to be emerging—one with a strong retail brand approach and one as a showcase store.

yKpoI14uk [10]

Answer:

Showcase stores are stores that display their products in a way that makes it easy for customers to determine what products are available.

Explanation:

Department stores are large stores with various assorted products and they adopt different approaches for selling their products to customers which include retail branding and showcase stores.

In a showcase store, a variety of products available in the store are displayed for customers to see, so they know what the store has available. These products that are showcased are not actually the ones sold.

The retail branding approach involves a large department store owning or controlling several smaller retail outlets with unique brands through which it sells its specific products.

A well branded retail outlet connects better with target customers and provides a more attractive option when they have to choose between competing brands.

5 0

3 years ago

Valdez Building Products, Inc., reports that last year it had unlevered net income of $4.1 million, depreciation expenses of $2.

Mamont248 [21]

Answer: $5,600,000

Explanation:

The firm's free cash flow last year will be:

Net Income = $4,100,000.00

Add: Depreciation = $2,400,000.00

Less: Capital Expenditure = $2,000,000.00

Add: Decrease in Net working capital = $1,100,000

Free Cash Flow = $5,600,000

5 0

3 years ago

Barkoff Enterprises, which uses the high-low method to analyze cost behavior, has determined that machine hours best explain the

Maslowich

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Month Utilities Machine Hours

January $ 9,600 890

February 9,260 810

March 9,850 900

April 10,260 1,010

May 10,732 1,040

June 10,050 990

To calculate the fixed cost, first, we need to calculate the unitary variable cost using the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (10,732 - 9,260) / (1,040 - 810)

Variable cost per unit= $6.4

Now, we can calculate the fixed cost:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 10,732 - (6.4*1,040)= $4,076

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 9,260 - (6.4*810)= $4,076

6 0

3 years ago