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lyudmila [28]
2 years ago
6

The net income for Sheridan Company for 2020 was $350,000. For 2020, depreciation on plant assets was $69,700, and the company i

ncurred a loss on disposal of plant assets of $13,300. Compute net cash provided by operating activities under the indirect method, assuming there were no other relevant changes in the company’s accounts. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Business
1 answer:
enyata [817]2 years ago
5 0

Answer:

350,000 net income

+69,700 depreciation

+13,300 loss on disposal

433,000 adjusted income

no change in working capital

cash generated from operating activities 433,000

Explanation:

We need to remove from the net incoem the non-monetary terms

The depreication is an accounting concept, it doesn't involve cash disbursements, so it is added.

Also the los son disposal doesn't involve using cash so is also removed.

Rule:

to remove a non-monetary expense we should add it.

to remove a non-monetary gain we should decrease it.

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Revising for Conciseness - Eliminating Flabby Expressions,Limiting Long Lead-Ins, and Dropping Unnecessary FillersTime is money
kvv77 [185]

Answer:

Explanation:

Flabby expression is extra words that make your writing seems unclear, weak, rambling, and unstructured. It often contains overused words which seem meaningless to the reader.

It is required to eliminate the unnecessary words in order to make your writing reach a higher level. You need to make your message become concise. These examples show you how to change the flabby expressions into the concise ones.

Flabby

Concise

As a general rule

Generally

At a later date

Later

At this point in time

Now, presently

Despite the fact that

Although

Due to the fact that

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b. Limiting Long Lead-Ins

This means you need to delete unnecessary introductory words.

For example:

Instead of saying “I am sending you this e-mail to announce that we have hired a new manager”, you can say “We have hired a new manager”.

Dropping unnecessary there is/ are and it is/ was fillers

d. Rejecting Redundancies

Redundancies are expressions with repeating meaning or including unnecessary words (redundant. For example, the word unexpected surprise can be changed into surprise because unexpected carries the same meaning as surprise. Here are the examples of redundant and concise words.

. Purging empty words

Empty words and phrases: case, degree, the fact, factor, instance, nature and quality.

Because of the degree of active participation by our sales reps, profit soared.

It sounds better when we remove them.

Avoid saying the obvious.

If it comes, omit it.

This is to inform you that we have a toll-free service line

Clauses begin with that, which and who can often be shortened without loss of clarity.

All employees who are among those completing the course will be reimbursed.

Revising for clarity

a. KISS

KISS stands for Keep It Short and Simple. KISS formula is using active-voice sentences that avoid indirect, pompous language.

b. Cliches and Slang

Cliches are expressions, words, and phrases which are overused. For example, you say “below the belt” instead of “last but least”.

Slang is informal words with changeable meanings. For example, you write “gr8” instead of “great”.

Designing Documents for Readability

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Use headings, bulleted numbers, effective margins, and Improve readibility and comprehension (shortening sentences & paragraphs) to increase the white space

b. Understanding Margins and Text Alignment

Business letters or memos usually have side margins of 1 to 1 ½ inches.

c. Choosing Appropriate Typefaces

Two most categories in business message are Serif typefaces whichh have small features at the end of strokes (e.g. Times New Roman, Century, Georgia and Palatino), and Sans serif typefaces which are clean and widely used for headings, signs and material that doesnt require continuous reading (e.g Arial, Calibri, Helvetica, Tahoma, Univers and Verdana)

For less formal message or decorative effects :

Happy, Creative script/ funny (Comic Sans, Brush script, Gigi, Jokerman, Kristen)

Assertive, Bold, Modern Display (Britannic Bold, Broadway, Elephant, Impact, showcard)

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During revision process, you need to think about font style and size appropriately. Make it looks comfortable according to the necessity.

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2 years ago
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Andrews [41]

On January 30, the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.

Explanation:

  • On November 1, Wright Co. borrowed $20,000 cash from the Third Bank by signing a 90-day, and 6% of interest-bearing note.
  • On December 31, it was recorded an adjusting entry to interest expense of $200.
  • On January 30, which is the due date of the note, Wright will record the payment with a debit to Interest Expense in the amount of $100.
  • Interest expense is an expense which is known as a non-operating expense which is shown on the income statement. It also represents interest payable amount when it is borrowed. For Example,
  • bonds,convertible debt, loans or lines of credit
  • The main difference between the interest expense and the interest paid is that the discount amount and this difference changes the net amount of bond liability.
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Answer:

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Gwar [14]

Answer:

No option is correct, since you will have 200 shares and each share should be worth around $60.

Explanation:

If the 2-for-1 stock split takes place then you will have 200 shares instead of 100. For every 1 share that you currently own, the corporation will issue another share.

Since the price of the shares was $120 before the stock split, after the stock split the price will be divided by two (the same proportion). So each new share will cost approximately $60.

In order for option 2 to be correct, the stock spit should have been 3-for-1.

8 0
3 years ago
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