Economists generally believe that rent control is

What is considered a liability in finance and why is it being used?

garri49 [273]

A liability is something a person or company owes, usually a sum of money. ... In the world of accounting, a financial liability is also an obligation but is more defined by previous business transactions, events, sales, exchange of assets or services, or anything that would provide economic benefit at a later date

8 0

3 years ago

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The income statement and the cash flows from the operating activities section of the statement of cash flows are provided below

Natasha_Volkova [10]

Answer and Explanation:

The preparation of the schedule to reconcile the net income to net cash flow from operating activities is presented below:

Cash from operating activities

Net income $24

Adjustment to reconcile

Add: Depreciation expense $11.5

Add: Depletion expense $5.4

Less: Gain on sale of Equipment -$17.5

Add: Loss on sale of land $7.3

Less: increase in account receivable ($292.30 - $228) -$64.30

Add: increase in accounts payable ($177.60 - $165) $12.6

Add: increase in salaries payable ($29 - $24) $5

Add: decrease In prepaid insurance ($18.7 - $14.3) $4.4

Add: Decrease in bond discount ($12.3 - $10.4) $1.9

Add: increase in income tax payable ($24 - $12.4) $11.60

net cash flow from operating activities $4.20

The cash outflow represents in a negative sign while the cash inflow represents in a positive sign

6 0

2 years ago

Folsom Fashions sells a line of women's dresses. Folsom's performance report for November Year 1 follows.Actual : Dresses Sold:

ElenaW [278]

Answer:

(B) $5,000 favorable.

Explanation:

Variable cost flexible budget variance:

budget for 6,000 units total variable cost: $180,000

We divide the total cost by the activity in that budget:

$180,000/ 6,000 = 30

Now we multiply by the actual volume:

5,000 x 30 = 150,000

Now we do flexible budget - actual cost = variance

150,000 - 145,000 = 5,000 favorable

It is favorable, as the cost where less than expected.

4 0

3 years ago

You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on

jeyben [28]

Answer:

$63,852

Explanation:

The computation is shown below:

a) PV of payments is

= $23,500 × (1.07^30 - 1) ÷ (0.07 × 1.07^30)

= $2,91,612

b) The Loan PV of payments is $3,00,000

c) And, the Balloon payment required is

= (Borrowed amount - loan PV payments) × (1 + rate of interest)^number of years

= ($300,000 - $291,612) × 1.07^30

= $63,852

5 0

3 years ago

Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels a

fredd [130]

$450 is the answer.

The total revenue the company earns after selling 10 boards is $450.

Further Explanation:

Total Revenue:

Total revenue refers to the total receipts or the income after selling the product.

Total profit:

Total profit refers to the amount subtracted by the total cost of the firm from the total revenue of the firm. Total profit is the excess of the total cost from the total revenue.

Total cost:

Total cost refers to the cost of making the product which is being bear by the company or the owner of the firm. Total cost is the cost of making the product.

Total Revenue = Cost of selling one skateboard × Total number of skateboards

= $45 × 10

= $450

Therefore, Total Revenue is $450.

Thus, the total revenue the company earns after selling 10 skateboards is $450.

Learn More:

1. Revenue from property taxes

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2. Variable costing

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3. Owning a car

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Answer Details:

Grade: High School

Chapter: Total profit

Subject: Accountancy

Keywords: Brenda’s Boards manufactures skateboards. Each skateboard sells for $45 and includes the following expenses: $3 for the wheels and mounts, $1 for the plastic board, $1 for the paint, and $10 for the labor. What is the total revenue the company makes after selling 10 boards? $300 $350 $400 $450.

5 0

3 years ago

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