Answer:
C. New equipment was purchased for $145,000 cash. d. A $29,000 note was paid at maturity on January 1 e. On January 1, 2021, bonds were sold at their $58,000 face value. f. Common stock ($45,000 par) was sold for $65,000. 9. Net Income was $90,000 and cash dividends of $50,000 were paid to shareholders. Required: Prepare the statement of cash flows of Wright Company for the year ended December 31, 2021. Present cash flows from operating activities by the direct method. (Amounts to be deducted should be indicated with a minus sign. Enter your answers in thousands (.e., 10,000 should be entered as 10).) WRIGHT COMPANY Statement of Cash Flows For the year ended December 31, 2021 (s in thousands) Cash flows from operating activities Cash inflows Cash outflows Net cash flows from operating activities Cash flows from investing activities
Explanation:
Answer: $615,810
Explanation:
The Book Value of the Asset at the end of 4 years will be;
= Cost of equipment - Accumulated Depreciation
= 3,250,000 - ( 3,250,000 * ( 20% + 32% + 19.20% + 11.52%))
= 3,250,000 - 2,688,400
= $561,600
The Equipment will be sold at $645,000 meaning a gain is made
= 645,000 - 561,600
= $83,400
Tax to be paid is;
= 83,400 * 0.35
= $29,190
After-tax salvage value of the equipment = Sales Price - Tax
= 645,000 - 29,190
= $615,810
Answer:
The correct answer is letter "B": make a profit.
Explanation:
Every business idea starts with the objective of reaching the same purpose: making a profit. The profit measures how well an organization went given a period and determines if its operations will continue the same, contract or expand. Thanks to the profits, wages can be paid to employees and taxes can be collected so the region's government can also attempt to achieve society's goals.
Answer:
A. $230,400
Explanation:
600,000 x 40% = 240,000
260,000 - 156,000 = 104,000 transfers of goods intra-entity at sale price
we divide by the markup to know the cost:
104,000 / 1.3 = 80,000 cost of the goods
gross margin 104,000 - 80,000 = 24,000
we will eliminate 40% of the gross margin
24,000 x 40% = 9,600
This amount will be eliminate from the incoem statemnet:
240,000 - 9,600 = 230,400
Answer:
If Nathan's additional injuries were severe, then Sam is probably liable for negligence.
Explanation:
There is no law that forces someone to help another person in peril, you have the legal obligation to call for help (usually 911), but your obligation ends there. If you decide to help someone, then you are responsible for that person's well being and must exercise reasonable care. Even if you are not a properly trained rescuer, you have the obligation to not make the victim worse. If Nathan's health suffered due to Sm's negligence, then Sam is liable to him.
This is a reason why you have to think twice before assisting someone in peril since once you decide to be a rescuer, then you are liable for any bad consequences that may occur. For example, if you are trying to help someone out of a car after an accident, an that person's leg or arm is broken in the process, then you may be liable for it.
