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nasty-shy [4]
3 years ago
7

An analysis of the general ledger accounts indicates that delivery equipment, which cost $75,000 and on which accumulated deprec

iation totaled $58,000 on the date of sale, was sold for $20,200 during the year. Using this information, indicate the items to be reported on the statement of cash flows. Transactions Section of Statement of Cash Flows Added or Deducted $75,000 cost of office equipment $58,000 accumulated depreciation $20,200 sales price $3,200 gain on sale of equipment (assume the indirect method is used)
Business
1 answer:
earnstyle [38]3 years ago
6 0

Answer:

Explanation:

Basically there are three types of activities:

1. Operating activities: It includes those transactions which affect the working capital, and it records transactions of cash receipts and cash payments.

2. Investing activities: It records those activities which include purchase and sale of the fixed assets

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance.  

So, the items reported or not reported is shown below:

1. $75,000 cost of office equipment - not reported

2. $58,000 accumulated depreciation - not reported

3. $20,200 sales price - investing activities - added

4. $3,200 gain on sale of equipment - operating activities - deducted

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Answer:

<em>hello your question lacks some vital information hence I will make valid assumptions to aid the solution </em>

answer : $583333.33

Explanation:

22 yrs old

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savings = $200/month

<u>Determine how much you will need to retire at 67</u>

lets assume : Interest rate = 6% per annum

annual withdrawable amount per year after retirement = $35,000

∴ amount to be saved up by 67 years = 35,000 / 6% = $583333.33

<u>hence amount needed to retire at age 67 </u>

target amount = $583,333.33

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number of years = 67 - 22 = 45

savings per year needed = 583,333.33 / 45 = $12962.96

<em>Note : saving $200 per month would not give the required amount needed to retire at age 67 </em>

The required monthly savings =  12962.96 / 12 = $1080.25

5 0
3 years ago
The most rigorous test of a firm's ability to pay its short-term obligations is its?
lapo4ka [179]

The working capital ratio is a measurement of a company's short-term capability of paying its financial obligations.

The working capital turnover ratio measures how efficaciously a business makes use of its operating capital to supply sales. A better ratio indicates greater efficiency. In preferred, an excessive ratio can assist your employer's operations to run greater easily and limit the want for added funding.

The working ratio measures a corporation's potential to recover running expenses from annual sales. It's miles calculated by taking general annual fees, aside from depreciation and debt-related charges, and dividing it by the yearly gross income.

The current ratio, also known as the working capital ratio, gives a short view of an enterprise's financial health. You could calculate the current ratio by taking contemporary assets and dividing that discern by means of current liabilities. A ratio above 1 way current belongings exceed liabilities.

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An agent sells his client 10 U.S. government bonds due to mature in 30 years. According to NASAA's Statement of Policy on Unethi
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Answer:

The bonds are guaranteed as to principal and interest payments by the US government.

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According to NASAA's Statement of Policy on Unethical or Dishonest Business Practices of Broker-Dealers and Agents, a broker can say US government bonds are guaranteed on principal and interest payments.

However if inflation sets in and interest rates rises there is no guarantee from the government that interest paid on the bonds will match the higher interest rate.

So legally this statement is correct, even though the investor can lose money as a result of higher interest rate in the future.

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The Ford Motor Corporation and Toyota Motor Corporation planned to join forces in 2011 to produce a hybrid truck that would meet
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