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
sleet_krkn [62]
3 years ago
11

Miguel, Inc. reported net income of $2.5 million in 2022. Depreciation for the year was $160,000, accounts receivable decreased

$350,000, and accounts payable decreased $280,000. Compute net cash provided by operating activities using the indirect approach.
Business
1 answer:
Valentin [98]3 years ago
4 0

Answer:

$2,730,000

Explanation:

The opening cash balance is netted off the cash flows from all activities namely; Operating, investing and financing activities to get the closing cash balance.

The operating activities includes elements such as net income, depreciation and amortization, changes in working capital etc.

Given;

Net income = $2,500,000

Depreciation = $160,000

accounts receivable decrease = $350,000 (inflow of cash)

accounts payable decrease =  $280,000 (outflow of cash)

net cash provided by operating activities using the indirect approach

= $2,500,000 + $160,000 + $350,000 - $280,000

= $2,730,000

You might be interested in
When Gene started his window-washing business, he wanted to keep things simple. He liked the idea of being his own boss and the
Alex17521 [72]
Sole proprietorship
6 0
3 years ago
Read 2 more answers
A company recently issued 9% preferred stock. The preferred stock sold for $40 a share with a par of $20. The cost of issuing th
Westkost [7]

Answer:

The company's cost of preferred stock is 5.1%

Explanation:

In order to find the cost  of the preferred stock we will need to divide the dividend the company pays on it by the net amount that the company is receiving for selling it.

In order to find the dividend we will multiply 9% by the par value of 20

Dividend = 0.09*20=1.8

Now we need to find the net amount the company receives for selling the preferred stock.

The company sells the stock for $40 but also has a issuing cost of $5, so in order to find the net amount we will subtract the cost from the price.

40-5= 35

35 is the net amount the company receives.

Now we will divide the the dividend 1.8 by the net amount 35

1.8/35=0.051

=5.1%

The company's cost of preferred stock is 5.1%

5 0
3 years ago
Which of the following is the last step in creating a budget?
Rufina [12.5K]

Set savings and debt payoff goals


6 0
3 years ago
Read 2 more answers
This year, Linda Moore earned a $112,000 salary and $2,200 interest income from a jumbo Certificate of Deposit.She recognized a
olya-2409 [2.1K]

Answer:

a) salary $112,000

Interest income $2,200

Capital gain on stock -

gross income $114,200

capital gains and losses

capital gain 10,500

capital loss 15,300

Net capital loss = 4800

net loss offset on Gross income = 3000

Net Gross income $111,200

capital loss that is carried forward = $1800

b) salary $112,000

Interest income $2,200

Capital gain on stock -

gross income $114,200

CAPITAL LOSSES/GAINS

capital gain 16000

capital loss 15300

Net Capital gain = 700  

ADD taxable capital gains on Gross income

c) salary $112,000

Interest income $2,200

gross income $114,200

capital losses/ gains

capital loss 15300

capital loss 17000

Total Capital LOSS = $ 32300

Set off against income = (3000)

Losses carried forward =$29300

Explanation:

Capital losses can be offset on normal Gross income but only up to $3000 per year

6 0
3 years ago
Mike is the head of a research team at a technology firm. in spite of constant rejection of mike's ideas by the senior officials
Wittaler [7]
Mike is an innovative leader who keeps going
3 0
3 years ago
Other questions:
  • Philip is a new manager of a 15 person manufacturing operation. His predecessor has handed him a complete annual plan (with budg
    15·1 answer
  • A __________ bond can be paid off early at a specified price.
    15·1 answer
  • Both the Onus ferry operator in the monopoly market and each of the Yuri ferry operators in the perfectly competitive market wil
    14·1 answer
  • Waterway Industries can produce 100 units of a component part with the following costs: Direct Materials $15800 Direct Labor 690
    10·1 answer
  • The recently appointed CEO of XYZ Inc. uses a luxury summerhouse owned by the company for rest and relaxation with his family as
    5·1 answer
  • Which option best defines taxable income?
    5·1 answer
  • Under a fixed exchange rate system, the government bears the responsibility to ensure that the BOP is near zero. If the sum of t
    7·1 answer
  • Tesla, a vehicle manufacturer, incurs the following costs.
    6·1 answer
  • if, in the market for money, the quantity of money demanded exceeds the money supply, the interest rate will
    14·1 answer
  • If there is any land left over after development, the remaining land is considered:_____.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!