What is the total account dept as of the statement date called?

The current sections of Whispering Winds Corp.’s balance sheets at December 31, 2019 and 2020, are presented here. Whispering Wi

storchak [24]

Answer:

The amount of cash provided by operating activities is $155,000

Explanation:

The net cash provided by operating activities is shown below by the cash flow statement extract:

Net income $152,000

depreciation expense $24,900

increase in accounts receivable($109700-$77900)($31,800)

Decrease in inventory($171,900-$157,000) $14,900

increase in prepaid expenses($26,700-$25,100) ($1,600)

increase in accrued expenses($14,600-$8400) $6,200

decrease in accounts payable($95,100-$85,500) ($9,600)

net cash provided by operating activities $155,000

Note:

An increase in liability means depriving the other party some cash,hence it is positive and vice versa.

4 0

3 years ago

Hometown Grocery, Inc. has 41,000 shares of common stock outstanding and 5,000 shares of preferred stock outstanding. The com

nalin [4]

Answer:

Dividend Per Each Share = $0.85 per share

Explanation:

given data

common stock outstanding = 41,000 shares

preferred stock outstanding = 5,000 shares

common stock = $6.00 par value

preferred stock 4% noncumulative = $100.00 par value

total dividend payment = $55,000

solution

we get here Total Preferential Divided that is

Total Preferential Divided = Shares × Face Value × 4% ........1

Total Preferential Divided = 100 × 5000 × 4%

Total Preferential Divided = 20000

so as that Total Equity Dividend is

Total Equity Dividend = Total Dividend - Total Equity Dividend .............2

Total Equity Dividend = $55,000 - 20000

Total Equity Dividend = 35000

so Dividend Per Each Share will be

Dividend Per Each Share = $\frac{Equity\ Dividend}{Total\ Equity\ Shares}$ ..............3

Dividend Per Each Share = $\frac{35000}{41000}$

Dividend Per Each Share = $0.85 per share

7 0

3 years ago

In 2022 the Cheyenne Corp. had net credit sales of $870000. On January 1, 2022, the Allowance for Doubtful Accounts had a credit

OleMash [197]

Answer:

$22,450

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance

Beginning bal. of Allowance for Doubtful Accounts ($21,600)

- Uncollectible Accounts Receivable written off <u>$32,700</u>

Adjustment of Allowance for Doubtful Accounts <u>$11,100 </u>

Accounts receivable balance at December 31 $11,350

+ Adjustment of Allowance for Doubtful Accounts $11,100 Adjustment to Allowance for Doubtful Accounts $22,450

at December 31, 2022

5 0

3 years ago

On January 2, 2018, Schneider Company issues $100,000 of 6% bonds. Interest of $3,000 is payable semi-annually on June 30 and De

4vir4ik [10]

Answer:

$3,354.

Explanation:

$95,842 * 0.035 = $3,354.

5 0

3 years ago

A primarily white neighborhood was starting to change over to more racially mixed demographic. An advertisement said "sell now b

labwork [276]

Answer:

Yes, blockbusting

Explanation:

A realtor putting up an advertisement that says "sell now before it's too late" can be in trouble for such advertisement as the realtor is creating fear/panic in the minds of the inhabitants of the neighborhood.

The realtor will be charged under the premise of blockbusting. Blockbusting is a business process in the USA in which real estate agents and developers convince property owners to sell their properties at low or cheap prices by creating fear in the property owners about racial minorities invasion of the neighborhood.

Simply put, blockbusting is the creation of panic in property owners about the invasion of their neighborhood by racial minorities , hence the need to sell their properties for a cheap price.

I hope this helps.

7 0

3 years ago