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mina [271]
3 years ago
6

Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balanc

e Sheet Data Revenues $ 100,000 Accounts receivable decrease $ 24,000 Expenses Purchased a machine for cash 10,000 Salaries expense 84,000 Salaries payable increase 18,000 Utilities expense 14,000 Other accrued liabilities decrease 8,000 Depreciation expense 14,600 Other expenses 3,400 Net loss $ (16,000 ) Required: 1. Prepare the operating activities section of the statement of cash flows using the indirect method. (Any loss or amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
NemiM [27]3 years ago
4 0

Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net loss                                                                                   -$16,000

Adjustment made:

Add : Depreciation expense $14,600

Add: Decrease in accounts receivable $24,000  

Add: Increase in salaries payable $18,000

Less: Decrease in accrued liabilities -$8,000

Total of Adjustments $48,600

Net Cash flow from Operating activities                                $32,600

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So, the correct option is A (Earned income)

Small Business

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5 0
1 year ago
When Maria temporarily left the company to obtain her master's degree with the intention of returning as a lead trainer, she was
inna [77]

Answer:

B) Sabbatical,it is a period of leave granted for higher education or travel

Explanation:

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7 0
2 years ago
You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate o
vivado [14]

Answer:

The correct answer is D: $10,329

Explanation:

Giving the following information:

You want to have the equivalent of $700,000 (in terms of today's spending power) when you retire in 30 years. Assume a 3% rate of annual inflation. The interest rate is 10% annual.

First, we need to determine how much is $700,000 in 30 years.

FV= PV*(1+i)^n

FV= 700000*(1.03^30)= $1,699,083.73

Now, we can calculate the annual payment required using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual payment

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

A= (1,699,083.73* 0.10)/[(1.10^30)-1]= $10329

4 0
3 years ago
Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the
larisa86 [58]

Answer:

The EFF of card is 27.45%.

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EFF interest rate is an interest rate which is actually paid or received on debt or investment. It is also known as Effective Interest rate.

APR = 24.50%

EFF = ( ( 1 + r/m )^m ) - 1

EFF = ( ( 1 + 0.245/12 )^12 ) - 1

EFF = ( ( 1 + 0.020417 )^12 ) - 1

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EFF =  1.27447765 - 1

EFF = 0.2745

EFF = 27.45%

6 0
3 years ago
Tom and Sally Jones are preparing to purchase a new car. Tom currently has a Toyota Camry and Sally has a Honda Accord. They now
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Answer:

Demographic, behavioral

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Tom and Sally's family life cycle stage is a Demographic segmenting dimension, and the benefit Sally seeks (reliability) is a behavioral segmenting dimension.

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3 years ago
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