Answer:
$146,000
Explanation:
Net income $120,000
Add: depreciation expenses $6,000
Increase Accounts Receivable 10,000
Decrease Accounts Payable 15,000
Less $5,000
(increase Accounts Receivable 10,000-
decrease Accounts Payable 15,000)
Net cash $146,000
Therefore the amount that Liberty should report as net cash provided by operating activities in its statement of cash flows for the year will be $146,000
<u>Explanation:
</u>
Accounting principles: It is the general instruction or guidelines and rules that a company has to follow for reporting the company's accounts and financial data. There a five accounting principles, in general, they are Revenue Recognition Principle,
Historical Cost Principle, Matching Principle,
Full Disclosure Principle, Objectivity Principle.
auditing techniques: There are 5 steps in auditing techniques to walk through and test each in a controlled place of the service organization. The steps include observation, inquiry, examination or inspection of the evidence,computer-assisted audit technique (CAAT) re-performance.
standard tax law: The law proposed by the government stating that the portion of income that is not subject to tax is used to reduce your tax bill. The deduction is based on age, filing status, and whether you are disabled or claimed as a dependent on someone else's tax return.
general investigative methods: General investigative methods involve physical evidence examining, gathering data or related information, collect the available evidence, protection of evidence, interviewing the witness, and suspect interviewing and interrogation.
An outside consultant may be needed if the project scope is beyond the qualification and capabilities of the staff. For fraud, former investigators and even former and reformed con men can be invited to share their knowledge in preventing or detecting fraudulent activity.
Answer:
Unitary production cost= $94
Explanation:
Giving the following information:
Variable costs per unit:
Direct materials $ 38
Direct labor $ 53
Variable manufacturing overhead $ 3
<u>The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead). Variable selling and administrative expense is a period cost. </u>
Unitary production cost= 38 + 53 + 3
Unitary production cost= $94
