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tangare [24]
3 years ago
5

Concord Corporation reported net income of $177,200 for 2017. Concord Corporation also reported depreciation expense of $35,230

and a loss of $4,920 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $14,160 for the year, a $17,220 increase in accounts payable, and a $4,190 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2017. Use the indirect method
Business
1 answer:
klio [65]3 years ago
4 0

Answer

Net income 177,200

+35230 depreciation

+4,920 loss on disposal

217,350 adjusted net income (a)

↑↓

↑AR -14,160

↑Prepaid -4,190

↑AP 17,220

Change in working Capital -1,130(b)

<u />

<u>Cash Flow generated from operating activities 216,220</u>

<u />

Explanation:

(a) we must remove the non-monetary account from the income statement

This means add the non-monetary expenses and losses

Subtract the non monetary revenue and gains

(b)

The increase in assets account have a negative meaning, because it is assumed the company used cash to adquire it.

Whiel increase in liabilities are positive, because the company receive aah or delay the payment of cash.

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Answer:

$2,200

Explanation:

Calculation to determine what should this recent grad be willing to pay in rent per month

First step is to calculate the work days

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Let plug in the formula

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Third step is to calculate hourly how much she will be able to maximize

Amount maximize = $25 x 40 hours (commuting hours)

Amount maximize= $1,000

Now let determine The total she will be willing to pay in rent

Rent per month= $1,200 + $1,000

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Therefore what should this recent grad be willing to pay in rent per month is $2,200

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3 years ago
What Is One Reason Why Inflation Can Occur
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Answer:

Both types of inflation cause an increase in the overall price level within an economy. Demand-pull inflation occurs when aggregate demand for goods and services in an economy rises more rapidly than an economy's productive capacity.

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3 years ago
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Matt is saving to buy a new motorcycle. if he deposits ​$75 at the end of each month in an account that pays an annual interest
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Answer:

The correct answer is "$120,250".

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Strategic planning is conducted at the highest levels of management and deals with products, capital, research, and the long- and short-term goals of a company.

A corporation, abbreviated as co., is a legal entity representing an association of persons, whether entity, legal or a mixture of the two, with a particular objective. The members of the company share a common goal and together achieve the stated specific goals.

A society may be established as an agency that gives society limited liability when its members perform or fail to perform their obligations under a publicly disclosed constitution or policy. to be announced. When a business closes, it may need to be liquidated to avoid other legal obligations.

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