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3 years ago

8

ANC Plastics has net working capital of $15,400, current assets of $39,200, equity of $46,600, and long-term debt of $22,100. Wh

at is the amount of the net fixed assets? Group of answer choices

1 answer:

Mashutka [201]3 years ago

6 0

Answer:

I don't think I can do that for me but its not my fault I'm sorry

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Anthony Inc. reported net income of $270,000. Beginning balances in Accounts Receivable and Accounts Payable were $17,000 and $2

Natalka [10]

Answer:

$268,500

Explanation:

When you use the indirect method to calculate net cash flows, you start with net income and then adjust it by:

adding the amount by which accounts receivable decreased = ($17,000 - $10,500) = $6,500
deducting the amount by which accounts payable increases = ($21,000 - $29,000) = -$8,000

net cash flow from operating activities = $270,000 + $6,500 - $8,000 = $268,500

3 0

3 years ago

On January 15, 2019, Dillon purchased the rights to a mineral interest for $3,500,000. At that time, it was estimated that the r

lutik1710 [3]

Answer:

$175,000

Explanation:

Depletion per Unit =$3500000 / 500000 = $7 per unit

25,000 units were sold during the year.

There are two ways of figuring depletion on mineral property.

1. Cost Depletion

2. Percentage Depletion

Generally, we must use the method that gives you the larger deduction.

Calculation of Cost Depletion:

Cost Depletion = Units Sold * Depletion Rate = 25,000 units * $7 per unit = 175,000

Calculation of Percentage Depletion:

Percentage Depletion = Gross Income from Property During the Year * Depletion Rate = 800,000 * 22% = 176,000

Percentage Depletion cannot be more than 50% of net taxable income from the property.

Percentage Limit = (Sales - Expenses ) * 50% = (800,000 - 500,000) * 50% = 300000*50% = 150,000

Thus Percentage Depletion is limited to $150,000

Thus, the deduction is $175,000 (Higher to Cost or Percentage Depletion)

7 0

3 years ago

Neal joins Filestene Inc. as an executive designer. The HR manager informs him that he will have to join the labor union within

Gnesinka [82]

Answer: (E) Union shop

Explanation:

The union shop arrangement is refers to the process in which we require the number of workers for join and also participate in the specific union and it is also called as the post entry or the closed shop.

The workers or the union representatives also providing the various types of benefits in the specific time period. Depending on the different protection level the trade unions are varying nation to nations.

According to the given question, the Neal's human resource manager is basically referring to the union ship that is related to the union membership.

Therefore, Option (E) is correct answer.

7 0

3 years ago

Cuso Company purchased equipment on January 1, 2016, at a total invoice cost of $400,000. The equipment has an estimated salvage

grigory [225]

Answer:

D. $156,000

Explanation:

Cost = $400,000

Residual value = $10,000

Useful life = 5 years

Now,

Annual straight line depreciation = $\frac{Cost-Residual Value}{Useful life}$

Annual straight line depreciation = $\frac{400,000 - 10,000}{5}$

Annual straight line depreciation = $\frac{390,000}{10}$

Annual straight line depreciation = $78,000

Annual depreciation expense is transferred to the accumulated depreciation. Thus, accumulated depreciation is sum of depreciation expense charged over the useful life of the asset.

Depreciation table has been constructed to compute the accumulated depreciation on 31st December 2017.

5 0

3 years ago

Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her cond

kumpel [21]

Answer and Explanation:

Natalie's Gross Income = $10,000

75 + 35 = 110 days

Expenses:

Insurance Expense (75/110) x 1000 682

Advertising Expense 500

Mortgage Interest (75/110) x 3500 2386

Property Taxes (75/110) x 900 614

Repairs and Maintenance (75/110) x 650 443

Utilities (75/110) x 950 648

Depreciation (75/110) x 8500 5795

Until the depreciation expenses the total expenses accumulate to 5273. If we deduct that with the gross income total we get 4727. We can only deduct 4727 from the total portion of 5795 depreciation expense.

Therefore, for AGI deductions we take total of (5273 + 4727) = $10,000

For Natalie's personal deduction of AGI

Mortgage interest (35/110) x 3500 1114

Property taxes (35/110) x 900 286

Total personal deduction for AGI $1400

4 0

3 years ago