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mestny [16]
3 years ago
5

Net income for the year was $29,500. Accounts receivable increased $2,500, and accounts payable increased $5,400. There were no

other changes in noncash current assets and liabilities. Under the indirect method, the cash flow from operations is $32,400. T/F
Business
1 answer:
mylen [45]3 years ago
4 0

Answer:

True

Explanation:

The net cash flow for the year can be calculated using the following equation:

net cash flow = net income + accounts payable - accounts receivable

net cash flow = $29,500 + $5,400 - $2,500 = $32,400

We have to subtract accounts payable since they were included in the net income but the cash has not been received yet.  

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If cost of goods sold under FIFO was $8,000 and was $10,000 under LIFO, assuming a tax rate of 40%, how much tax savings resulte
Inessa05 [86]

Answer:

$800

Explanation:

The computation of the tax saving from using LIFO is shown below:

= Cost of goods sold under LIFO × tax rate  - Cost of goods sold under FIFO × tax rate

= $10,000 × 40% - $8,000 × 40%

= $4,000 - $3,200

= $800

By applying the above formula, the tax saving resulted from using the LIFO is $800 and the same is to be considered

3 0
4 years ago
Page(s) 13-14 1.2. What are five foundations of economics? Arshad is trying to choose his college major. His options are physics
Marizza181 [45]

Answer:

Physics

Explanation:

Opportunity Cost

When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice.

Since Arshad is concerned about his mid-career salary, Physics has the highest mid-career salary among the options, therefore opportunity cost of choosing to major in communications would be Physics

7 0
3 years ago
In a planned economy, prices of commodities are controlled by _________.
GalinKa [24]

The correct answer is C. The government

Explanation:

The key feature of a planned economy is the strong influence and control of government in the economy. Indeed, in a planned economy it is the government the entity that decides on trade and production, this includes the prices of goods and the types of products that should be manufactured. Moreover, this does not occur in market economies because in these customers, produces and the law of supply/demand determine factors of the economy. According to this, in a planned economy prices are controlled by government.

4 0
3 years ago
Different types of market research
dezoksy [38]
Descriptive research casual research predictive research and exploratory research.

So stuff like....

Product testing
Advertising testing
Satisfaction and loyalty analyst
brand awareness and reach
pricing research
4 0
3 years ago
​Jason's gross pay for the week is $ 1,000. His yearly pay is under the limit for OASDI. Assume that the rate for state and fede
ozzi

Answer:

Total payroll taxes                      213

Explanation:

the employeer will have to record the taxes on the wages plus the taxes on his behalf

1,000 x 6.2 = 62

1,000 x 1.45 = 14.5

Total 76.5 for the employee

Then the employer must pay the same amount of taxes.

employer taxes 76.5

Total for OASDI and Medicare: 153

Then FUTA&SUTA 6% of 1000  60

Total payroll taxes                      213

6 0
4 years ago
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