In the cash flow statement financing activities refer to the flow of cash between a business and its owners and creditors.
Answer:
Ricci vs. DeStefano
Explanation:
This case is a US labor law case that occurred in 2009, where twenty (20) firefighters at the New Haven Fire Department claimed to be discriminated against because they were refused promotion despite the fact that they passed the test.
More noticeably, no blacks and a very small number of Hispanics qualified for the promotion.
The result of the lawsuit was that $2 million was paid to the firefighter plaintiffs and New Haven reestablished the results and promoted 14 out of the 20 plaintiffs. For fees and costs, their attorney Karen Lee Torre was paid $3 million.
Answer: An unfair trade practice
Explanation:
Insurance guaranty associations are the organizations that help in the protection of the interest of the insurance policyholders in a case whereby there's insolvency on the part of the insurance company.
In a scenario whereby an insurance company makes a statement that its policies are guaranteed by the existence of the Insurance Guaranty Association, this is not appropriate and should be termed to be an unfair trade practice.
Answer:
2017 Net Income = $53000
2018 Net Income = $87000
Explanation:
The overstatement of ending/closing inventory causes the Cost of Goods Sold (COGS) to be understated and the Gross and Net profit to be overstated by the same amount.
If the 2017 ending inventory was iverstated by $7000, the correct profit figure for 2017 will be $7000 less than is reported.
2017 correct Net Income = 60000 - 7000 = $53000
An overstatment of ending inventory in one year also means and overstatement of opening inventory of the next year. Thus, the 2018 opening inventory is overstated by $8000 and an overstatement of opening inventory means an overstatement of COGS and an understatement of Gross and Net Income by the same amount.
Thus, the correct Net Income for 2018 = 80000 + 7000 = $87000
Answer:
$500 favorable
Explanation:
Given;
Number of units produced = 10,800 units
Actual indirect material costs = $13,000
Reflected indirect material costs for 144,000 units = $180,000
Now,
Per unit reflected indirect material costs = $180,000 ÷ 144,000
= $1.25 per unit
Therefore,
Budgeted indirect material cost for actual units produced
= $1.25 × 10,800
= $13,500
since,
the budgeted cost for indirect material cost for actual units produced is more than the actual indirect material cost, therefore
the indirect material costs in October is favorable
amount = Budgeted cost - Actual cost
= $13,500 - $13,000 = $500 favorable
