Answer:
$179,000
Explanation:
Prepare an Operating Cash flow Section of the Statement of Cash flow.
Cash flow from Operating Activities
net income $210,000
Adjustment of Non-Cash Items :
depreciation $27,000
loss on the sale of equipment of $2,000
Adjustment of Working Capital Items :
Increase in Accounts Receivable ($17,000)
Increase in Inventory ($42,000)
Decrease in Prepaid Expense $5,000
Decrease in Accounts Payable ($6,000)
Net Cash Flow from Operating Activities $179,000
Answer:
The 3 represents the percentage of cash discount. It means the cardholder will receive a 3% discount if the bill is paid within 15 days from the billing date.
Answer: Please refer to Explanation.
Explanation:
a. The company regularly follows up with customers who pay late.
This is GOOD.
Cash Management Strategy - Collection of Accounts Receivables on time to maintain cash balance.
b. Excess cash is put into short-term investments to earn extra income.
This is GOOD.
Cash Management Strategy - Earning extra income on idle cash by investing in short-term liquid investments.
c. Cash receipts and cash payments are regularly planned and reviewed.
This is GOOD.
Cash Management Strategy - Cash Planning to establish a correct balance between payments and receipts.
d. Rarely used equipment is rented rather than purchased.
This is GOOD
Cash Management Strategy - Saving money by spending economically only when needed.
e. Bills are paid as soon as they are received.
This is BAD
Cash Management Strategy - Paying bills when due to ensure that operating cash balance is maintained at a healthy level.
If you need any clarification do comment.
Cheers.
Different institutional sources of contracts
1)internet books
2)video clips
3)Journal
4)Magazines
5)News papers
6)archive documents
7)internal publications
8)publicity materials
Answer:
Green Wave Company
T-Ledger Accounts:
1. Common Stock Account
Jan. 1 Cash Account $35,000
Cash Account
1. Jan. 1 Common Stock $35,000 3. Jan. 9 Equipment $8,300
5. Jan 18 Rental Fees $12,300 7. Jan. 31 Salaries $6,900
<u> </u> Jan. 31 Balance <u>$32,100</u>
<u> $47,300 </u> <u> $47,300</u>
Feb. 1 Balance $32,100
2. Land Account
Jan. 5 Note Payable $20,500
2. Note Payable Account
Jan. 5 Land $20,500
3. Equipment Account
Jan. 9 Cash $8,300
5. Rental Fees Revenue
Jan. 18 Cash $12,300
6. Office Supplies
Jan. 23 Accounts Payable $2,300
6. Accounts Payable
Jan. 23 Office Supplies $2,300
7. Salaries Expense
Jan. 31 Cash $6,900
Explanation:
T-Ledger accounts are ledger accounts in the form of the letter T. It has debit on the left-hand side and credit on the right-hand side. It is an accounting tool for determining balances.