Which of the following is an example of a database?

Ayayai Inc. had the following balance sheet at December 31, 2019.

Mrrafil [7]

Answer:

(a) Increase in cash = $50,200

(b) Total Assets = Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets = Liabilities and Stockholders' Equity = $298,900

Download xlsx

8 0

3 years ago

Exercise 2-15 Computing net income LO A1 A corporation had the following assets and liabilities at the beginning and end of this

Ipatiy [6.2K]

Answer:

a. $32,039

b. $19,439

c. -$12,961

d. $9,639

Explanation:

We will use accounting equation to solve the above question.

Assets = Liabilities + Equity

Also;

Net income will be the difference in equity plus dividends minus contributions

= [Ending equity - Beginning equity ] + Dividends

Since the beginning and ending equity is the same for all the years, then we'll have

$71,500 = $30,652 + Equity

Equity = $40,848

Ending equity = $122,500 - $49,613

= $72,887

a. Income : $72,887 - $40,848 + 0 - 0

= $32,039

b. $72,887 - $40,848 + $1,050 × 12 - 0

= $19,439

c. $72,887 - $40,848 + 0 - $45,000

= -12,961

d. $72,887 - $40,848 + $1,050 × 12 - $35,000

= $32,039 + $12,600 - $35,000

= $9,639

6 0

3 years ago

Kremena's bank account earns 4.5% simple interest. How much must she deposit in the account today if she wants it to be worth $1

12345 [234]

Answer:

$1,101.32

Explanation:

Simple interest accounts balances are calculated using the following formula

A = P ( 1 + rt)

where:

A = final account balance

P = starting balance

r = interest rate (annually) percentage divided by 100

t = years

Therefore, we can plug in the values provided in this formula and solve for P which would be the amount that Kremena needs to deposit.

1,250 = P ( 1 + (0.045 * 3))

1,250 = P * 1.135 ... divide both sides by 1.135

1,101.32 = P

Finally, we can see that Kremena would need to deposit a total of $1,101.32 to have the amount that she wants after 3 years.

4 0

2 years ago

The Securities Exchange Act of 1934 limits, but does not prohibit, corporate insiders from trading in their own firm's shares. W

liberstina [14]

Answer and Explanation:

The ethical issues that occurs in the case when a corporate insider wants to purchase or sells in the firm where an individual works are as follows:

1. The information could be misuse

2. It would become unfair for the investors

3. The trust could be broke also it would create the discrimination with the other investors

4. The insider trading lowers the size of the market that ultimately decrease the volatility of the market

4 0

3 years ago

The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The follo

Inessa05 [86]

Answer:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

Explanation:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

<u>Dividends payable a/c</u>

<u>Particulars Amount Particulars Amount</u>

Balance b/d $ 13,000

Dividend paid (Cash) $ 54,500 Dividend declared $57,000

Balance c/d $ 15,500

$ 70,000 $ 70,000

Therfore, The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

8 0

3 years ago