Electronic payments can be made using the routing and account number and are processed at banks like regular checks.

In 2019, BayKing Company sold used equipment for $ 21 comma 000. The equipment had an original cost of $80,000 and accumulated

Mamont248 [21]

Answer:

$11,000

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.

net investing cash flows

= $21,000 - $10,000

= $11,000

3 0

3 years ago

Transactions Innovative Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equ

IrinaK [193]

Answer:

Transactions Innovative Consulting Co.

Journal Entries:

Date Account Titles and Explanation Debit Credit

Oct. 1: 51 Rent Expense $2,500

11 Cash $2,500

Oct. 4: 52 Advertising Expense $1,000

11 Cash $1,000

Oct. 5: 13 Supplies $1,800

11 Cash $1,800

Oct. 6: 14 Office Equipment $11,500

21 Accounts payable $11,500

Oct. 12: 11 Cash $7,500

12 Accounts Receivable $7,500

Oct. 20: 21 Accounts payable $2,700

11 Cash $2,700

Oct. 27: 54 Miscellaneous Expense $700

11 Cash $700

Oct. 30: 53 Utilities Expense $475

11 Cash $475

Oct. 31: 12 Accounts Receivable $42,400

41 Fees Earned $42,400

Oct. 31: 53 Utilities Expense $900

11 Cash $900

Oct. 31: 33 Dividends $1,500

11 Cash $1,500

Explanation:

a) Data and Calculations:

Oct. 1: 51 Rent Expense $2,500 11 Cash $2,500

Oct. 4: 52 Advertising Expense $1,000 11 Cash $1,000

Oct. 5: 13 Supplies $1,800 11 Cash $1,800

Oct. 6: 14 Office Equipment $11,500 21 Accounts payable $11,500

Oct. 12: 11 Cash $7,500 12 Accounts Receivable $7,500

Oct. 20: 21 Accounts payable $2,700 11 Cash $2,700

Oct. 27: 54 Miscellaneous Expense $700 11 Cash $700

Oct. 30: 53 Utilities Expense $475 11 Cash $475

Oct. 31: 12 Accounts Receivable $42,400 41 Fees Earned $42,400

Oct. 31: 53 Utilities Expense $900 11 Cash $900

Oct. 31: 33 Dividends $1,500 11 Cash $1,500

5 0

3 years ago

Ann is in the middle of completing her first 1040EZ tax form. She has some questions about an instruction on the form. What shou

Len [333]

Look at the instructions for that form 1040EZ online. If that doesn't help you call the dept of taxation for help

7 0

3 years ago

Which of the following is a non-depository intermediary?

Rina8888 [55]

Answer:

d

Explanation:

i did it

8 0

3 years ago

Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both ha

nadya68 [22]

Answer:

The proceeds from the simple discount note is $16380 , while that of simple interest is $19500

Explanation:

Simple discount notes could likened to a bank loan where interest on the loan is taken from the borrowed funds before disbursement to the loan's beneficiary,hence proceeds from such notes is face value of the notes less interest taken in advance.

While on the other hand,the proceeds from simple interest note is par or face value.

The discount or interest is =8%*$19500=$1560 for one year,but $3120 for two years($1560*2)

The proceeds on the simple discount note =$19500-$3120

=$16380

The proceeds on the simple interest note is face value of $19500

3 0

3 years ago