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dalvyx [7]
3 years ago
14

The current sections of Whispering Winds Corp.’s balance sheets at December 31, 2019 and 2020, are presented here. Whispering Wi

nds’s net income for 2020 was $152,000. Depreciation expense was $24,900. 2019 2018 Current assets Cash $106,600 $99,100 Accounts receivable 109,700 77,900 Inventory 157,000 171,900 Prepaid expenses 26,700 25,100 Total current assets $400,000 $374,000 Current liabilities Accrued expenses payable $14,600 $8,400 Accounts payable 85,500 95,100 Total current liabilities $100,100 $103,500 Prepare the net cash provided by operating activities section of the company’s statement of cash flows for the year ended December 31, 2020, using the indirect method.
Business
1 answer:
storchak [24]3 years ago
4 0

Answer:

The amount of cash provided by  operating activities is $155,000

Explanation:

The net cash provided by operating activities is shown below by the cash flow statement extract:

Net income                                                                 $152,000

depreciation  expense                                             $24,900

increase in accounts receivable($109700-$77900)($31,800)

Decrease in inventory($171,900-$157,000)              $14,900

increase in prepaid expenses($26,700-$25,100)   ($1,600)

increase in accrued expenses($14,600-$8400)      $6,200

decrease in accounts payable($95,100-$85,500) ($9,600)

net cash provided by operating activities                $155,000

Note:

An increase in liability means depriving the other party some cash,hence it is positive and vice versa.

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A $1000 bond with a coupon rate of 6.2% paid semiannually has eight years to maturity and a yield to maturity of 8.3%. If intere
ohaa [14]

Answer:

The price of the bond will be $879

Explanation:

Price of the bond is the present value of all cash flows of the bond. Price of the bond is calculated by following formula:

According to given data

Coupon payment = C = $1,000 x 6.2 = $62 annually = $31 semiannually

Number of periods = n = 2 x 8 years = 16 periods

Current Yield = r = 8.3% / 2  = 4.15% semiannually

Price of the Bond = $31 x [ ( 1 - ( 1 + 4.15% )^-16 ) / 4.15% ] + [ $1,000 / ( 1 + 4.15% )^16 ]

Price of the Bond = $31 x [ ( 1 - ( 1 + 0.0415)^-16 ) / 0.0415 ] + [ $1,000 / ( 1 + 0.0415 )^16 ]  

Price of the Bond = $31 x [ ( 1 - ( 1.0415)^-16 ) / 0.0415 ] + [ $1,000 / ( 1.0415 )^16 ]  

Price of the Bond = $521.74 + $357.26   = $879

7 0
3 years ago
To promote accountability, which document outlines the method for coordinating response operations?
Kamila [148]

Answer:

Incident Action Plan

Explanation:

6 0
2 years ago
At times, employees may engage in a __________, that is, a strike without the union's consent, or a slowdown, wherein employees
AveGali [126]

Answer:

The answer is wildcat strike

Explanation:

At times, employees may engage in a Wildcat strike that is, a strike without the union's consent, or a slowdown, wherein employees report to work but intentionally decrease their productivity.

6 0
2 years ago
Below are transactions for Wolverine Company during 2021.On December 1, 2021, Wolverine receives $4,000 cash from a company that
Nutka1998 [239]

Answer: Please see explanation column for answers

Explanation:

Journal for December 2021

A)To record advance in rent from customers

Date Account. Debit Credit

Dec 31 Deferred

Revenue. $2,000

Rent Revenue. $2,000

Reason--->The rent is paid for 2 months in advance ie January and December, but since the adjusting entry is for only December, we will divide .$4000 / 2=

$2,000 as Rent revenue earned.

B) To record Insurance expense

Date Account. Debit Credit

Dec 31 Insurance

Expense. $6,600

Prepaid insurance $6,600

Reason-- The company paid in advance but we consider only from July to December which is 6months as we are only preparing entry for December

Insurance Expense =13,200x 6/12=

$6600

C) To record accrued Salary

Date Account. Debit Credit

Dec 31 Salary

Expense. $3000

Salary payable $3,000

But will be paid next year.

D) To record accrued interest on loan borriwed

Date Account. Debit Credit

Dec 31 Interest

Expense. $250

Interest payable $250

Calculation

Interest =PxRxT=15,000 X 10%x 2/12=$250

Accrued interest from date of loan which is November to December the date of journal entry will be considered

E)To record supply expense for the year

Date Account. Debit Credit

Dec 31 Supply

Expense. $3,900

Supply $3,900

Calculation=

Supply expense=Supply at the onset +purchased supply - used supply.

1000 +3400 -500=$3,900

4 0
3 years ago
According to the least preferred coworker (LPC) scale of Fiedler’s model of leadership styles, if the leader describes the least
blagie [28]

Answer:

The correct answer is a. is relationship-oriented.

Explanation:

This type of leadership takes people and their development in the work team into account. Collaborative and participative work is allowed within its functions, where the appreciations and comments of all people are considered and it is built based on experiences. Everyone has decision-making power, that is, they can carry out tasks in the way they feel best and have the power to support other areas without the need for the boss or leader to participate.

5 0
3 years ago
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