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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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David and Darlene Jasper have one child, Sam, who is 6 years old (birthdate July 1, 2012). The Jaspers reside at 4639 Honeysuckl
Andrei [34K]

Answer:

Explanation:

David:

Earnings from Apple Company (office manager)

$26,125

Federal income tax withheld

2,800

State income tax withheld

1,050

Darlene:

Earnings from Rose Company (perfume tester)

$25,100

Federal income tax withheld

2,650

State income tax withheld

900

Their other income includes interest from Pine Tree Savings and Loan of $1,825. Other information and expenditures for 2016 are as follows:

Interest:

On home acquisition mortgage

$11,250

Credit card

925

Taxes:

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1,300

State income taxes paid in 2016 (for 2015)

315

Contribution (with written acknowledgement) to church

990

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475

Medical and dental expenses

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Income tax return preparation fee paid in 2016

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Payment of union dues

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3 0
3 years ago
Furniture Company manufactures tables. It has two manufacturing departments: Department A and B. The company uses a budgeted ove
motikmotik

Answer:

The total cost of Job A is  $29,044

Explanation:

The computation of the total cost is shown below:

= Direct materials used for Department A + Direct materials used for Department B +  Direct manufacturing labor for Department A + Direct manufacturing labor for Department B + Applied overhead for Department A +  Applied overhead for Department B

where,

Applied overhead for Department A = (Budgeted manufacturing overheads ÷ machine-hours) × Department A machine hours

= ($57,500 ÷ 4,000 machine-hours) × 800 machine-hours

= $11,500

Applied overhead for Department B = (Budgeted manufacturing overheads ÷ Direct labor hours) × Department B Direct labor hours

= ($62,500 ÷ 8,000 Direct labor hours) × 300 Direct labor hours

= $2,344

The other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $3,250 + $1,350 + $5,250 + $5,350 + $11,500 + $2,344

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8 0
3 years ago
The following is the stockholders' equity section of Harbor Co.'s balance sheet on December 31: Common stock $10 par, 100,000 sh
Murljashka [212]

Answer:

The book value of shares is $10

Explanation:

The balance of shareholders equity is $2,200,000.This comprises of retained earnings of $800,000 and Issued Share Capital of $1,400,000(for 140,000 units of shares)

To ascertain the unit of shares,see below:

45000units= $450,000

15000units reacquired at $150,000

Which also means that $1,100,000 is for 110,000units of shares.

In each of these cases highlighted above share price is $10

for instance:$450,000/45000shares=$10

$150,000/15000=$10 e.t.c

8 0
3 years ago
What is the difference between a government and a state
nadezda [96]

Though here are few differences between State and Government, State is a sovereign authority. While Government uses the sovereign authority of the state as an element. ... State is a larger entity is includes all individuals, associations and institutions that exist within its territorial boundaries.

6 0
3 years ago
Read 2 more answers
Sherry, who is 52 years of age, opened a Roth IRA three years ago. She has contributed a total of $13,200 to the Roth IRA ($4,40
Alexxandr [17]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

7 0
3 years ago
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