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jekas [21]
3 years ago
11

Destiny Corporation is preparing its statement of cash flows by the indirect method. Destiny has the following items for you to

consider in preparing the​ statement:
O+ a. Increase in accounts payable
F- b. Payment of dividends
O- c. Decrease in accrued liabilities
F+ d. Issuance of common stock
O- e. Gain on sale of building
O+ f. Loss on sale of land
O+ g. Depreciation expense
O- h. Increase in merchandise inventory
O+ i. Decrease in accounts receivable
I- j. Purchase of equipment
Business
1 answer:
Semenov [28]3 years ago
5 0

Answer:

O+ a. Increase in accounts payable

F- b. Payment of dividends

O- c. Decrease in accrued liabilities

F+ d. Issuance of common stock

O- e. Gain on sale of building

O+ f. Loss on sale of land

O+ g. Depreciation expense

O- h. Increase in merchandise inventory

O+ i. Decrease in accounts receivable

I- j. Purchase of equipment

Explanation:

The requirement of the question is to indicate whether each of the items is an addition to addition to net income (O+) or subtraction (O-) under operating activities section, investing activity (cash inflow I+), (cash outflow I-),financing activity (cash inflow F+), (cash outflow F-) and activity not used to prepare the cash flows.

All the signs above are correct.

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[5] According to the FASB’s conceptual framework, which of the following best describes the distinction between expenses and los
PIT_PIT [208]

Answer:

D. Losses result from peripheral or incidental transactions, and expenses result from ongoing major or central operations of the entity

Explanation:

The expenses represent the cash outlow or liabilities taken to carry out the activities to continue his operations.

While the Gains and Losses are incidental transactions or other events which are not controlled by the entity management. They aren't the outcome of the company's decisions. Thus, they could arise from changes in price of real state, equipment, tecnology breakthrough which means equipment obsolete and so on.

7 0
3 years ago
Easy question.........
madreJ [45]

Answer:

c

Explanation:

7 0
3 years ago
Read 2 more answers
According to, "Ditching the Dollar," having multiple reserve currencies to choose from is healthy because:
posledela

Answer: D. If one country creates all the reserves it can prevent other countries from trading.

Explanation:

<em>Ditching the Dollar</em> refers to a movement by nations to reduce the dependence on the US. dollar for transactions.

The USD is the major currency for trade around the world with it accounting for the currency of use in more than 50% of the entire World trade. This was due to the Bretton Woods Agreement and System which at the time pegged the USD to gold and other currencies at certain value to the USD.

The influence the USD gained that day continues today. Countries however are increasing becoming fed up by the United States using the Dollar to impose trade restrictions and sanctions on countries and then requiring everyone to fall in line because trades are mostly done in the currency controlled by the US, the USD.

For instance, when sanctions were imposed on Iran, the European Union looked for alternative means of payment for Iranian oil.

Ditching the Dollar therefore argues that having multiple reserve currencies to choose from is healthy because one country will not be able to control world trade as the US has.

8 0
3 years ago
Custom Cars purchased $39,000 of fixed assets two years ago that are classified as 5-year MACRS property. The MACRS rates are 20
maw [93]

Answer:

The after-tax cash flow (after-tax salvage value) from the sale is $18,941.20

Explanation:

The computation of the after-tax cash flow is shown below:

= Purchase of fixed asset - depreciation charged - sale value of machine + profit on sale - tax rate

= $39,000 - ($39,000 × 20% + 32%) - $19,000 + $280 -  21%

= $39,000 - $20,280 - $19,000 + 280 - $58.80

= $18,720 + $280 - $58.80

= $18,941.20

The $18,720 reflect the Written down value of the fixed asset which come from

= $39,000 - $20,280

3 0
3 years ago
Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical servic
asambeis [7]

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:(D.) Inverse

What are free market conditions?

The relationship between  quantity demanded and price normally, where the market forces are left to determine the happenings in the market, is inverse, in that as the quantity demanded increases prices decrease.

In the same vein, the relationship between the quantity of medical services demanded and the price of medical services, is also inverse which means that the amounts charged by doctors for medical treatment reduces, there would be more patients, since the cost is now cheaper which discourages people to seek alternative medicine.

Find out more about demand-price relationship on:brainly.com/question/26264326

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Full question:

Under free market conditions, the relationship between the quantity of medical services demanded and the price of medical services is:

A. Unknown

B. Equal

C. Direct

D. Inverse

3 0
1 year ago
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