Answer:
D ($60,000)
Explanation:
Cash flow is shows how changes in the balanced sheets and income statement affects cash and cash equivalent. Its aim is to know the availability of cash and cash equivalents available for business purpose , determined through the operating , financing and investing activities.
Workings
Cash generated from operating activities - 20000
Cash generated from investing activities - 15,000
Movement in cash account (25000)
Cash generated from investing account =( 20000+15000+25000) = (60000)
This means that an outflow of $60,000 through financing activity has an overall effect of outflow of $25,000 in the cash account.
Answer:
express and bilateral contract
Explanation:
An express contract is a contract in which the parties involved have carefully and explicitly/openly set the terms of the contract.
This contract contains agreements of both parties either verbally or in writing. Express contracts are also called Special contracts.
from the question, Todd's offer to shovel Maria's patio for a fee and her acceptance of the fee for the job is an express contract as it is oral.
A bilateral contract on the other hand is a contract in which both parties involved agree to their part of the contract. In the case of the question, Todd's part is to shovel Maria's patio while Maria's part of the contract is to pay Todd $25 for the job.
I hope this helps.
Answer:
31.17 months
Explanation:
For computing the number of months required to pay off the stereo system we need to apply the NPER formula i.e be shown in the attachment below:
Given that,
Present value = $400
Future value = $0
Rate of interest = 12% ÷ 12 months = 1%
PMT = $15
The formula is shown below:
= NPER(Rate;PMT;-PV;FV;type)
The present value come in negative
So, after applying this, the number of months is 31.17 months
Answer:
Accounting treatment (debit credit rules) of given entries
Explanation:
- Purchased office furniture on account Account
Furniture ie Asset increase - Debit , Creditor (Furniture Supplier) ie Liability increase - Credit
- Provided services on account
Debtor ie Asset increase - Debit , Sale ie Income increase - Credit
Prepaid Expense (Rent) ie Asset Increase - Debit. Rent paid now implies later rent ie (Expense) decrease - Credit