The mean annual wage of copywriters exceeds that of editors. <br> 1)True <br> 2)False

Mid-Town Auto Parts Company uses the direct method to prepare its statement of cash flows. Refer to the following information r

Lera25 [3.4K]

Answer:

Collection from Customers =$487,000

Explanation:

Collection from Customers=account receivable beginning balance+sales revenue-account receivable ending balance

=97000+$519,000-$65,000

=$487,000

7 0

3 years ago

At the beginning of its fiscal year, Lakeside Inc. leased office space to LTT Corporation under a nine-year operating lease agre

ziro4ka [17]

Answer:

a.Lakeside's earnings will reduce by $156,000

b. Lakeside's earnings will increase by $20,000.

Explanation:

The rental fee payment per quarter =$39,000.

The rental fee payment per year = $39,000 x 4 = $156,000

In this case, none of the classification criteria of a capital lease is met. Hence, the lease will be recorded as an operating lease and all the four quarterly payments will be recorded as rent expense by LLT. This will reduce LTT's earnings by $156,000.

Lakeside will record all the payments received from LTT as rent revenue since it is an operating lease. Also, because Lakeside is the owner of the asset, she will record depreciation on the asset too.

Thus,

Increase in lakeside's earnings = Rent revenue - Depreciation expense.

Rent revenue = $156,000

Depreciation expense = $3,400,000 / 25 = $136,000

Thus,

Lakeside's earnings will increase by $20,000 (that is , $156,000 - $136,000).

4 0

3 years ago

Currently, it is not clear which, if any, laws apply to the security of e-money payment information.

Free_Kalibri [48]

I'm pretty that would be: A.) True.

5 0

3 years ago

Prior to liquidating their partnership, Joyce and Xi had capital accounts of $50,000 and $105,000, respectively. Prior to liquid

Iteru [2.4K]

Answer:

Joyce cash distribution = $262500

Explanation:

given data

Joyce capital = $50,000

Xi capital = $105,000

liabilities = $10,000

assets sold = $190,000

to find out

we consider Determine the amount received by Joyce as a final distribution from liquidation of the partnership

solution

we carrying value of non-cash asset prior to liquidation is

value of non-cash asset prior to liquidation = $50,0000 + $105,000 + $10,000

value of non-cash asset prior to liquidation = $615000

so Profit on Liquidation is = value of non-cash asset prior to liquidation - Sale of Asset

Profit on Liquidation is = $615000 - $190,000

Profit on Liquidation is = $ 425000

and here since

Joyce and Xi share income and losses equally

so Joyce share of profit will be

Joyce share of profit = 50% × $ 425000

Joyce share of profit = $212500

and

so Joyce cash distribution will be

Joyce cash distribution = Joyce share of profit + Joyce capital

Joyce cash distribution = $212500 + $50,000

Joyce cash distribution = $262500

4 0

3 years ago

The time value of money refers to the fact that a dollar received today is worth less than a dollar promised at some time in the

NikAS [45]

Answer:

false money and time are worth different amounts. our time on earth is more valuable then money itself.

8 0

3 years ago

The mean annual wage of copywriters exceeds that of editors. 1)True 2)False