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Kobotan [32]
3 years ago
11

Cash Flows from Operating Activities—Indirect Method The net income reported on the income statement for the current year was $1

23,700. Depreciation recorded on store equipment for the year amounted to $20,400. Balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End of Year Beginning of Year Cash $49,730 $45,750 Accounts receivable (net) 35,660 33,810 Merchandise inventory 48,690 51,470 Prepaid expenses 5,470 4,350 Accounts payable (merchandise creditors) 46,600 43,280 Wages payable 25,460 28,270 a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash outflows, cash payments, decreases in cash, or any negative adjustments.
Business
1 answer:
KiRa [710]3 years ago
8 0

Answer:

Explanation:

26262

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Suppose that in 2011, per-person GDP in Singapore was $53,591, and in Egypt, it was $5,547, as measured in 2005 purchasing power
Lyrx [107]

Answer:

a. There are significant differences in incomes between high- and low-income countries.

Explanation:

Data provided in the question

Per person GDP in Singapore = $53,591

Per person GDP in Egypt = $5,547

Based on the above information

As we can see that the level of income in Singapore is higher than Egypt also when there is an important difference in the high income and low income countries the same is shown accurately

hence, the correct option is a.

5 0
2 years ago
On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,000. Jarden prepares a sche
ahrayia [7]

Answer and Explanation:

a. The required balance of allowance for doubtful debts is shown below:

Particulars       Account receivable  %             Estimated uncollectible

Not yet due    $860,000                1.20%        $10,320

1 to 30 days    $344,000                1.95%        $6,708

31 to 60 days  $68,800                  6.45%       $4,438

61 to 90 days  $34,400                  32.50%    $11,180

Over 90 days $13,760                    67.00%    $9,219

Estimated balance                                           $41,865

b. The adjusting entry is

Bad debt expense Dr ($41,865 - $14,000) $27,865

         To Allowance for doubtful debts $27,865

(being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful debts as it decreased the assets

8 0
3 years ago
Suppose the Imperial Galactic Bank has received $1,000 of deposits and all banks face a required reserve ratio of 10 percent. Wh
Bumek [7]

Answer:

Money Multiplier= 1/ reserve ratio = 1/10% = 10

Change in Money Supply = Change in Reserves * Money Multiplier

= 1,000 * 10 = 10,000

So, option d is the correct option.

4 0
3 years ago
Sunland Corporation purchased a limited-life intangible asset for $468000 on May 1, 2019. It has a useful life of 10 years. What
Jobisdone [24]

Answer: $124800

Explanation:

First, we have to calculate the ammortization expense which will be:

= $468000 / 10

= $46800

May 2019 = ($46800 × 8/12)

= $31200

December 2020 = $46800

December 2021 = $46800

Ammortization expense will now be:

= $31200 + $46800 + $46800

= $124800

8 0
2 years ago
Match the descriptors with the leadership theory it best represents.
stich3 [128]

Answer:

a pic and send it to you and your name

7 0
2 years ago
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