Answer:
$89,000
Explanation:
Given that,
Net Income = $71,000
Depreciation = $5,000
Increase in Current Liabilities = $9,000
Decrease in Current Assets = $4,000
Net Cash from Operating Activities:
= Net Income + Depreciation + Increase in Current Liabilities + Decrease in Current Assets
= $71,000 + $5,000 + $9,000 + $4,000
= $89,000
Therefore, the Leather Shops cash provided by operating activities (indirect method) is $89,000.
Answer:
Forward integration
Explanation:
Forward integration is a type of business strategy in which the business activities should be carried forward for incorporating the complete production of the product i.e. from the raw material to the end manufacturing of the product along with the supply chain and its logistics. In this, the supplier of the raw material should extend the business to the end manufacturing of the product
So as per the given situation, it is a forward integration
Answer:
Please refer the reason in detail below
Explanation:
For state and local government entities, additional standards are promulgated by the Governmental Accounting Standards Board ("GASB") and for the federal government, additional standards are promulgated by the Federal Accounting Standards Advisory Board ("FASAB").
GASB considers budgetary comparisons as an important part of the basic financial statements and financial reporting and therefore include budgetary comparisons in their concept statements
Answer:
c. Wilma (and each of the members) pays taxes on their $1 million share ($5 million divided by 5) of profits.
Explanation:
Data provided in the questions
Generated profits = $5 million
Reinvested amount into the company = $4 million
Out of which $1 million is to be divided equally
based on the above information, the federal income tax should be paid by 5 members of $1 million each
Hence, the option c is correct
And all other options are wrong
Answer:
Explanation:
Calculation of amount of interest income Paul and Jean can exclude =
where I = interest received, E = educational expenses, P = principle.
Proceeds received $7,132
Principle $5,000
Interest $2,132
Qualified Higher Educational expenses $4,000
=2132*(4000/(5000+2132))= $1,195.74
Answer is 1,195.74 exclusion
