Answer:
In preparing a statement of cash flows under the indirect method, an increase in accounts payable would be reported or included as a(n):
source of cash.
Explanation:
Accounts payable are liabilities owed to suppliers for goods or services. They are listed on the balance sheet under current liabilities and on the cash flow statement under operating activities. When preparing the statement of cash flows, an increase in accounts payable is regarded as a source of cash while a decrease is regarded as a use of cash.
Answer:
The court ruled against both Americar and Regency Inn, and then Regency Inn won its case against Americar. The nuisance case itself is pretty unpleasant, so it's not worth referring to it.
The fundamentals for the ruling against Americar were that they themselves had drafted the lease agreement and that the clause included in the lease agreement by which they agreed to indemnify Regency Inn was valid. The original lease term had already expired, but Americar continued to lease the offices on a monthly basis. Since they never left the place, the clauses in the original agreement were still valid even though the lease changed to a monthly basis. I.e. if you sign a lease contract and after the original contract is over, you continue to lease the same place, then the clauses from the original contract still apply.
The clause stated that Americar was liable for damages that took place on the leased premises or in their proximity, i.e. the area near their offices. The parking lot was considered to be in the proximity of Americar's offices.
Answer:
Dr retained earnings($21,600+$15,800) $37,400.00
Cr accumulated depreciation $21,600
Cr inventory $15,800
Explanation:
The errors that require adjustment are the overstatement and understatement of depreciation expense as well as the December 2021 overstatement of inventory.
The understatement of inventory in 2020 would have self-corrected itself in 2021 since closing inventory in 2020 deducted from costs of goods available for sale would be introduced as opening inventory in 2021.
net effect of depreciation=understatement -overstatement=$37,500-$15,900=$21,600.00
hence retained earnings would reduce by $21,600.00
for the overstatement of inventory,retained earnings would reduce by $15,800
You can create a budget plan to cut out the risks of any unneeded financial expenses and to know that you should pay for things you need before you pay for unneeded items.
Answer:
Option D. $10,000 is the correct answer.
Explanation:
Journal Entry for pension expenses:
Pension Expense $10,000
Cash $10,000
(To record pension expenses)
Pension expenses for the year ended is comprised of the following components of pension cost.
Service Cost $14,000
Interest cost $6,000
Expected return on plan assets $10,000
__________
Pension expenses $10,000
