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lubasha [3.4K]
3 years ago
15

g During the past year, a company had cash flow to creditors, an operating cash flow, and net capital spending of $30,591, $69,5

73, and $30,460, respectively. The net working capital at the beginning of the year was $12,352 and it was $14,650 at the end of the year. What was the company's cash flow to stockholders during the year
Business
1 answer:
brilliants [131]3 years ago
5 0

Answer:

The company’s cash flow to stockholders during the year is $6,224

Explanation:

In this question, we are asked to calculate a company’s cash flow to stakeholders during a particular year.

To calculate this, we proceed as follows;

Change in Net Working Capital = Ending Working Capital – Beginning Working Capital

Change in Net Working Capital = $14,650 - $12,352 = $2,298

Cash Flow from Assets = Operating Cash Flow – Net Capital Spending - Change in Working Capital

Cash Flow from Assets = $69,573 - $30,460 - $2,298 = $36,815

Cash Flow to stockholders = Cash Flow from Assets – Cash flow to Creditors

= $36,815 - $30,591 = $6,224

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If the Ford Focus is the cost​ object, classify each of the following costs as indirect or​ direct, respectively: property taxes
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Answer: B

Explanation: Engines for the cars is a cost directly related to the Ford cars being produced. The property taxes and the janitors rates are indirect costs because they are general costs needed to run the business but are not directly linked to the production of the ford cars

8 0
3 years ago
On June 3, Carla Company sold to Chester Company merchandise having a sale price of $3,800 with terms of 4/10, n/60, f.o.b. ship
Svetllana [295]

Answer:

A. June 3

Dr Accounts Receivable—Chester $3,800

Cr Sales Revenue $3,800

June 12

Dr Cash $3,648

Dr Sales Discounts $152

Cr Accounts Receivable—Chester $3,800

B. June 3

Dr Accounts Receivable—Chester $3,648

Cr Sales Revenue $3,648

June 12

Dr Cash $3,648

Cr Accounts Receivable—Chester $3,648

Explanation:

A. Preparation of the journal entries on the Pronghorn Company books to record Sales and receivables are entered at gross selling price.

June 3

Dr Accounts Receivable—Chester $3,800

Cr Sales Revenue $3,800

June 12

Dr Cash $3,648

($3,800-$152)

Dr Sales Discounts ($3,800 X 4%) $152

Cr Accounts Receivable—Chester $3,800

B. Preparation of the journal entries on the Pronghorn Company books to record Sales and receivables are entered at gross selling price Sales and receivables are entered at net of cash discounts.

June 3

Dr Accounts Receivable—Chester $3,648

Cr Sales Revenue ($3,800 X 96%) $3,648

June 12

Dr Cash $3,648

Cr Accounts Receivable—Chester $3,648

8 0
2 years ago
The adjusted trial balance for China Tea Company at December 31, 2021, is presented below:
olchik [2.2K]

Answer:

Kindly check attached picture

Explanation:

Given the details below

Accounts Debit Credit

Cash $16,000

Accounts receivable 162,000

Prepaid rent 10,000

Supplies 31,000

Equipment 370,000

Accumulated depreciation $129,000

Accounts payable 11,000

Salaries payable 3,500

Interest payable 1,900

Notes payable (due in two years) 37,000

Common stock 210,000

Retained earnings 176,100

Dividends 27,000

Service revenue 360,000

Salaries expense 150,000

Advertising expense 75,000

Rent expense 18,000

Depreciation expense 32,000

Interest expense 2,500

Utilities expense 35,000

Totals $928,500 $928,500

Prepare an income statement for China Tea Company for the year ended December 31, 2021

Kindly check attached picture

8 0
2 years ago
Richard participated in a study conducted by an advertising agency. During his interview, he was asked to gauge the services pro
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Answer:

The correct answer is letter "A": product-specific preplanning inputs.

Explanation:

Product-specific preplanning input is a series of efforts carried out by advertisements agencies to collect information about<em> industry competitors, work processes, and consumers patterns and preferences </em>on determined products that will allow them to create a strategy to merchandise a new good or service in the market.

Product-specific preplanning input makes use of <em>focus group interviews and demographic and psychographic segmentation </em>as feeds to create marketing strategies.

6 0
3 years ago
Swift Company was organized on March 1 of the current year. After five months of start-up losses, management had expected to ear
scoundrel [369]

A new income statement for August for Swift company is shown below.

Also, since the president has asked you to check over the income statement and make a recommendation as to whether the company should look for a buyer for its assets.

My recommendation would be to not buy.

                                            Swift Company

                                         Income Statement

                               For the Month Ended August 31

Particulars                                                   Amount (in $)    Amount (in $)

Sales ..............................................................                          450,000

Cost of goods sold:

Finished goods inventory, August 1 ...............  40,000

Add: Cost of goods manufactured ................. <u>310,000 </u>

Goods available for sale ................................ 350,000

Deduct: Finished goods inventory, August 31..<u> 60,000</u>            <u> 290,000 </u>

Gross margin ..................................................                         160,000

Selling and administrative expenses .................                      <u>142,000</u>

Net operating income......................................                           18,000

Sam failed to distinguish between product costs and period costs when preparing the August income statement, and he also failed to recognize changes in inventories between the beginning and end of the month.

Once these errors are corrected, the company's financial situation looks much better, and selling the company may not be a good idea.

Hence, my recommendation would be not to buy.

Learn more about income statement:

brainly.com/question/24498019

#SPJ4

7 0
1 year ago
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