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vodomira [7]
3 years ago
14

The income statement for the year ended December 31, 2020, for Sandhill Manufacturing Company contains the following condensed i

nformation. SANDHILL CO. INCOME STATEMENT Revenues $ 6,559,000 Operating expenses (excluding depreciation) $4,973,000 Depreciation expense 875,000 5,848,000 Income before income tax 711,000 Income tax expense 319,950 Net income $ 391,050 Included in operating expenses is a $22,000 loss resulting from the sale of machinery for $265,000 cash. The company purchased machinery at a cost of $753,000. Sandhill reports the following balances on its comparative balance sheets at December 31. SANDHILL CO. COMPARATIVE BALANCE SHEETS (PARTIAL) 2020 2019 Cash $624,550 $131,500 Accounts receivable 780,000 621,500 Inventory 843,500 869,000 Accounts payable 529,000 508,000 Income tax expense of $319,950 represents the amount paid in 2020. Dividends declared and paid in 2020 totaled $195,000. Prepare the statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthes
Business
1 answer:
suter [353]3 years ago
3 0

Answer: the answer is idk

Explanation: i need points

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One major negative effect of globalization has been:
aleksandrvk [35]

Answer:

A. environmental damage due to increased production.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace.

Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

Hence, one of the major advantages of globalization is that, it has ensured or made it possible such that economic and environmental conditions in different countries of the world are related and linked with the intention of generating revenue and profits while providing goods and services to meet the demands or requirements of various consumers across the world.

However, one major negative effect of globalization has been environmental damage or pollution due to increased production by various companies across the world.

Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.

4 0
3 years ago
VJasper Company has sales on account and for cash. Specifically, 70% of its sales are on account and 30% are for cash. Credit sa
RoseWind [281]

Answer:

                                              April             May              June

Cash Sales             30%    $157,500     $160,500      $168,000

Sales on account   70%    <u>$367,500</u>    <u>$374,500</u>      <u>$392,000</u>

                                          <u>$525,000</u>    <u>$535,000</u>     <u>$560,000</u>

<u />

<u> </u>

                                        JASPER COMPANY

                                     Cash Receipts Budget

                                   For April, May and June

                                                                 April          May          June

<em>Cash Receipts from:</em>

Cash Sales                                         $157,500    $160,500   $168,000

Collection of accounts Receivable  <u><em>$400,000   $367,500   $374,500</em></u>

Total Cash Receipts                          <u>$557,500</u>   <u>$528,000</u>  <u>$542,500</u>

8 0
2 years ago
10.3. Gadgets are produced and sold in a competitive market. When there is no tax, the equilibrium price is $20 per gadget. The
ANEK [815]

Answer:

isΔ PdΔ Ps=EQs, PEQd,PAs given in the question, 40=EQs, P−0.5This perfectly elastic supply shows the burden of tax is imposed completely on the consumer, indicating the elasticity of supply is infinite.

6 0
3 years ago
During the year, Sophie (a self-employed marketing consultant) went from Omaha to Lima (Peru) on business. She spent four days o
baherus [9]

Answer:

e. None of these.

Explanation:

The deductible expenses are expenses that are wholly, necessarily and exclusively for business purpose. This excludes the entertainment cost which is the only avoidable cost in the classes of cost given.

Hence, Sophie's deductible expenses are

= $3,000 + $800 + $600

= $4,400

4 0
3 years ago
What is the selling price of a dining room set at Macy’s? Assume actual cost is $770 and 69% markup on selling price. (Round you
jeka94
Might be $1301.30 even. I hope this is correct. Please let me know and have a great day!
3 0
3 years ago
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