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givi [52]
3 years ago
11

In 2017, Wildhorse Corporation had net cash provided by operating activities of $486,000, net cash used by investing activities

of $932,000, and net cash provided by financing activities of $559,000. At January 1, 2017, the cash balance was $300,000.
Required:
1. Compute the December 31 2017, cash.
Business
1 answer:
Nata [24]3 years ago
3 0

Answer:

1. Cash at December 31, 2017 is $413,000.

Explanation:

As per IAS-7, which deals with the Statement of Cash Flow, the year end Cash balance should be calculated as follows under indirect method:

Cash opening balance

Add: Net cash provided by operating activites

Less: Net cash used by investing activities

Add: Net cash provided by financing activities

Note: The terms "Provided" and "Used" are the basis of addition and subtraction.

<u>Calculation</u>

300,000 + 486,000 - 932,000 + 559,000 = $413,000.  

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Pronghorn Corporation began operations on January 1, 2020 when $236,000 was invested by shareholders of the company. On March 1,
Over [174]

Answer:

a. $7,100

b. -$6,400

c. -$13,500

d. -$13,500

Explanation:

The computation is shown below:-

a. Net income

Net income = Cash interest

= $7,100

b. Comprehensive Income = Net Income - unrealized holding loss

= $7,100 - $13,500

= -$6,400

c. Other Comprehensive Income = unrealized holding loss

= -$13,500

d. Accumulated other comprehensive income:

Ending Balance of other comprehensive income = Beginning Balance + During this year

= $0 + (-$13,500)

= -$13,500

3 0
3 years ago
Asarta Inc. is polluting into a nearby fishing stream; doing so benefits them $40,000 a year. The fishermen are unhappy as their
IceJOKER [234]

Answer:

a. Asarta Inc. could pay the fishermen $8,500 and keep polluting  

Explanation:

The fishermen sell the fish for $8,000 a year at local market.

Due to pollution emitted by company into stream, their catch is dwindling and also their income.

The company benefits from usage of stream to the tune of $4,000 a year.  In such scenario, if company compensates the fishermen for any amount between $8,000 and $40,000 then, in that case, optimal solution to the problem can be achieved in absence of any other transaction cost as per the Coase Theorem.

Therefore, The Asarta Inc. could pay the fishermen $8,500 and keep polluting.

4 0
3 years ago
which of the following is a benefit of a college education? A. You collect social security benefits at an earlier age than a hig
slega [8]

Answer:

The correct option is;

B. You have an increased chance of financial stability

Explanation:

The advantages of going to college includes;

1) College graduates make more salary on average

2) Holding a college degree improves career stability

3) Improved job satisfaction

4) Improved financial know how on savings and investment

5) Stable marital life

6) College graduate are able to be better citizens, by their willingness and ability to contribute meaningfully whenever a volunteer requirement

5 0
3 years ago
Is illuminati confirmed
Misha Larkins [42]
No it is not’ people say it’s real but no don’t believe that
7 0
3 years ago
Read 2 more answers
Scoresby Co. uses 3 machine hours and 1 direct labor hour to produce Product X. It uses 4 machine hours and 8 direct labor hours
beks73 [17]

Answer:

(C) Product X = $880; Product Y = $2,240

Explanation:

The applied overhead will be calculate by the product of the cost diver and the overhead rate:

<u>Cost driver for each product:</u>

Product X   3MH and  1LH

Product Y   4MH and 8LH

<u />

<u>Overhead rate: </u>

240 per machine hour

and 160 per labor hour

Product X   3MH x $240 +  1LH x $160   = 880

Product Y   4MH x $240 +  8LH x $160  = 2,240

4 0
3 years ago
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