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
kvv77 [185]
2 years ago
12

A company reported total assets at the end of 2017 of $95,000; including cash of $35,000, accounts receivable of $20,000, and in

ventory of $40,000. It reported total assets at the end of 2018 of $110,000; including cash of $44,000; accounts receivable of $29,000, and inventory of $37,000. Compute the net increase or decrease in cash in 2018. Decrease of $9,000 Increase of $15,000 Increase of $9,000 Decrease of $15,000
Business
1 answer:
tino4ka555 [31]2 years ago
7 0

Answer:

The correct option is increase of $9,000

Explanation:

The increase or decrease in cash in 2018 could be determined by using the formula below which is coined from the statement of cash flow:

Cash at the end of the year=cash at the beginning plus +increase in cash

cash at the end of 2018 is $44,000 whereas cash at the beginning which is the same at closing balance of 2017 is $35,000

$44,000=$35,000+increase in cash

increase in cash =$44,000-$35,000

increase in cash in 2018=$9,000

You might be interested in
Alfonso has noticed that increases in unemployment insurance claims are associated with recessions, and therefore be advocates l
7nadin3 [17]

Answer:

<em>c. The reasoning of both Alfons and Mary suffers from the omitted variable problem</em>

Explanation:

The issue of omitted variables occurs as a result of mis-specification of a linear regression model, which could be either because the impact of the omitted variable on both the dependent variable is unclear, or the evidence was not accessible.

This causes you to omit the variable from your regression, resulting in over-estimation (upward bias) or underestimation (downward) of the influence of one of the other predictor variables.

3 0
3 years ago
Over a period of years, Engineers' salaries have increased at a rate of 8.5% per year. If inflation has been 5.5% per year, what
-Dominant- [34]

Answer:

3% salary increase

Explanation:

simply 8.5%-5.5%

8 0
2 years ago
My bunnies Lola (gray and white) and Sylvester (brown)
Elden [556K]

Answer:

cute

Explanation:

theyre so cute

3 0
2 years ago
The stockholders' equity of Verrecchia Company at December 31, 2013, follows:
liq [111]

Answer:

Verrecchia Company

Financial Statement effects:

1. Jan. 5 Issued 10,000 shares of common stock for $12 cash per share:

Assets (Cash) would increase by $120,000

Equity (Common Stock) would increase by $120,000

2. Jan. 18 Repurchased 4,000 shares of common stock at $15 cash per share.

Assets (Cash) would decrease by $60,000

Equity (Common Stock) would decrease by $60,000

3. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $18 cash per share.

Assets (Cash) would increase by $18,000

Equity (Common Stock) would increase by $18,000

4. July 17 Sold 500 shares of the remaining treasury stock for $13 cash per share.

Assets (Cash) would increase by $6,500

Equity (Common Stock) would increase by $6,500

5. Oct. 1 Issued 5,000 shares of 8%, $25 par value preferred stock for $35 cash per share.

Assets (Cash) would increase by $175,000

Equity (Preferred Stock) would increase by $125,000

Equity (Additional Paid-in Capital - Preferred) would increase by $50,000

Explanation:

The Financial Statement effects of each transaction is a reflection of how each transaction affects at least two opposite elements of the financial statement.  Every transaction affects the elements of the financial statement in one way or another, which enables the accounting equation to remain in balance.

For example, a transaction may increase the assets and also increase either the liabilities or equity side of the balance sheet.

In our example, the transactions affected only the balance sheet.  This means that each transaction increases or decreases the assets, liabilities, or equity sections.

5 0
3 years ago
Kim hired Gold Contracting to build a pool and a fancy gazebo in her backyard. The plans were complex and required expert workma
Rufina [12.5K]

Answer:

B. Kim will win, because the bonus is a reward for work they have already performed, which is past consideration and cannot be used to create a contract.

Explanation:

In order for a contract to be enforceable, consideration must be exchanged between both parties. In this case, Kim made a promise that included consideration ($3,500) but Gold didn't exchange of give anything back. The swimming pool is already finished and it represents another different contract.

Another example would be a boss telling a subordinate that he/she will receive a bonus for having worked 10 years in the firm. The employee already got paid for working the 10 years, so there is no actual exchange of new consideration.

5 0
2 years ago
Other questions:
  • What are the determinants of demand and provide the definition and example of each.​
    10·1 answer
  • A few of the tools economists use to evaluate the macroeconomy are
    11·1 answer
  • Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the ye
    8·1 answer
  • Find the future values of these ordinary annuities. Compounding occurs once a year. Do not round intermediate calculations. Roun
    13·1 answer
  • I need help with number 6 please
    14·1 answer
  • Crawford Corporation incurred the following transactions.
    6·1 answer
  • Suppose that the reason the jewelry was brand new and at such a bargain price online was because the seller actually stole the j
    9·2 answers
  • What is a benefit of obtaining a personal loan?
    10·1 answer
  • Kemp Manufacturing set 70,000 direct labor hours as the annual capacity measure for computing its predetermined variable overhea
    15·1 answer
  • In the past, the study of finance has included Multiple Choice bankruptcy. raising capital. All of the options mergers and acqui
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!