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DIA [1.3K]
3 years ago
13

Leather ShopLeather Shop earned net income of $57,000 after deducting depreciation of $5,000 and all other expenses. Current ass

ets decreased by $4,000​, and current liabilities increased by $9,000. How much was Leather Shop'sLeather Shop's cash provided by operating activities​ (indirect method)? (A) $40,000(B) $66,000(C) $48,000(D) $74,000
Business
1 answer:
slavikrds [6]3 years ago
8 0

Answer:

$75,000

This option has not been provided

Explanation:

Cash provided by operating activities

Net Operating Income

Add: Depreciation

Add: Decrease in current assets

Add: Increase in Current Liabilities

Using the information in question, we have

Cash Provided by operating activities = $57,000 + $5,000 + $4,000 + $9,000 = $75,000

None of the above is the right answer as the correct option is not available.

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The firms in this industries have dis-economies of scale.

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When firms have dis-economies of scale, they experience higher average cost (this means lower productivity) with a rise in the output.

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Rank the following items from most liquid to least liquid:
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You are conducting a study to determine if a relationship exists between personality and being a successful Reality TV character
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Answer:

The correct answer is letter "D": group's altercations and group's celebrations.

Explanation:

The unit of context represents the samples that are going to be taken into consideration for research. According to those samples, it will be possible to conduct a study about a specific topic of interest for the researcher that he or she would like to expose.

In that case, analyzing the TV show characters during the group's altercations and group celebrations will allow the researcher to conduct the study.

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3 years ago
merchandise is sold for cash. the selling price of the merchandise is $2,600, and the sale is subject to a 6% state sales tax. t
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The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.

The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.

As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.

Sales tax = 6% of 2600

Sales tax = 6/100 × 2600

Sales tax = 0.06 × 2600

Sales tax = $156

Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.

To know more about  sales tax refer:

brainly.com/question/1811849

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8 0
1 year ago
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Answer:

The final payment would be of amount $9000

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3 years ago
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