_____ offers a variety of programs and support services.

The balance sheet of Innovative Products reports total assets of $570,000 and $770,000 at the beginning and end of the year, res

Makovka662 [10]

Answer:

$201,000

Explanation:

The computation of net cash flows from operating activities is shown below:-

Beginning Total Assets $570,000

Ending total assets $770,000

Average Total Assets in use $670,000

($570,000 + $770,000) ÷ 2

Cash return on Asset 30%

Cash Flow from operating activities

Average Assets × 25% $201,000

($670,000 × 25%)

Therefore the Cash Flow from operating activities is $201,000

6 0

3 years ago

The XYZ Company is a profit-maximizing firm with a monopoly in the production of pennants. The firm sells its pennants for $10 e

olga_2 [115]

Answer:

elastic.

Explanation:

A monopolynis defined as a situation where a single supplier produces a good and so control quantity supplied and price of the product. Monopoly maximises profit when price is elastic and marginal revet is positive. When profit is maximised increase in price from that point does not result in increased profit.

On the other hand when a firm is not maximising profit, it is making profit but can take step to earn more. In this situation increase in price will result in higher profits

5 0

4 years ago

Q8. Smith Auto Dealership had beginning net fixed assets of $216,525 and ending

AveGali [126]

Answer:

The net cash flow is $7,844 from the sale of the assets.

Explanation:

Step 1: Determine the average fixed assets

The average net fixed assets can be determined using the expression;

Av=(Fb+Fe)/2

where;

Av=average net fixed assets

Fb=net fixed assets at the beginning of the year

Fe=net fixed assets at the end of the year

In our case;

Av=unknown

Fb=$216,525

Fe=$208,650

replacing;

Av=(216,525+208,650)/2=$212,587.50

The average net fixed assets=$212,587.50

Step 2: Determine the net fixed assets after accounting for depreciation

This can be expressed as;

Net fixed assets=average net fixed assets-depreciation

where;

average net fixed assets=$212,587.50

depreciation=$41,320

replacing;

Net fixed assets=(212,587.50-41,320)=$171,267.50

Step 3: Debit the fixed asset account and credit the cash account

Account Debit Credit

Fixed assets 7,844 163,423.50

Cash flow 163,423.50 7,844

The net cash flow is $7,844 from the sale of the assets.

5 0

4 years ago

The liabilities of Wildhorse Company are $113,000 and the owner’s equity is $235,000. What is the amount of Wildhorse Company’s

kirill [66]

Answer:

$122,000

Explanation:

i dont know i just subtracted ¯\_(ツ)_/¯

8 0

3 years ago

In recording an accounting transaction in a double-entry systema.the number of debit accounts must equal the number of credit ac

Elodia [21]

Answer:

c. The amount of the debits must equal the amount of the credits.

Explanation:

a. The number of debit accounts must equal the number of credit accounts.

An account means one record entry of a transaction. There may be more credit or more debit accounts, depending on the transactions.

b. There must always be entries made on both sides of the accounting equation.

Although this happens most often, it is not always true.

The Accounting Equation: Assets = Liabilities + Owner's Equity

The two sides are separated by the equal sign. There can be a transaction that's only on one side. Example:

I buy a chair for $50 cash. Only the furniture and cash accounts are affected, and they are both on the assets side.

c. The amount of the debits must equal the amount of the credits.

This must always be equal. When you increase an asset (debit), you will increase owner's equity (credit). When you decrease an asset (credit) you could either decrease owner's equity or liability (debit).

d. There must only be two accounts affected by any transaction.

This is untrue. Sometimes, three or more accounts can be affected. For example, if I buy a chair, giving $20 down payment and borrowing $30 from the bank. The three accounts affected are furniture (increase by $50), cash (decrease by $20), and bank loan (increase by $30).

4 0

3 years ago