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ivanzaharov [21]
3 years ago
13

Omni Corporation's accumulated depreciation—equipment account increased by $5,300, while $3,400 of patent amortization was recog

nized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,000 from the sale of land.
Reconcile a net income of $120,400 to net cash flow from operating activities. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries.
Business
1 answer:
dmitriy555 [2]3 years ago
8 0

Answer:

Cashflow from Operating Activities

Net Income                                                                 $120,400

Adjastment for Non-Cash Items

Depreciation                                                                  $5,300

Amortization                                                                   $3,400

Adjastments of Items appearing elsewhere

Loss from the sale of land                                            $4,000

Net Cash flow from operating activities                    $133,100

Explanation:

Net Income is reconciled in the cashflow statement via the indirect method. Its is adjasted for Non-Cash Items, Items appearing elsewhere in the cashflow statement and Working Capital Movements

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The Playa Company has the following information in its records. Certain data have been intentionally omitted ($ in thousands). R
nikklg [1K]

Answer:

Particulars                                      2021                2022                    2023

Beginning Inventory                        <u>277</u>                <u>253</u>                         235

Cost of Goods sold                          633                623                        <u> </u><u>586</u>

Ending inventory                             <u> </u><u>253 </u>              235                          220

Cost of good available for sale       886                <u>876</u><u> </u>                         806

Purchases                                         640                <u>623 </u>                         595

Purchase discounts                           20                   17                            <u>26</u>

Purchase returns                               26                   32                            16

Freight-in                                            15                    34                            18

Explanation:

There are few missing values which are calculated using back solving technique. These values are bold and underlined. Playa Company has missing information for its three year accounts.

Available for sale = Beginning inventory + Net Purchases

Cost of Goods Sold =  Cost of good available for Sales - Ending inventory

Ending inventory = Cost of Goods available for Sales - Cost of Goods Sold.

Net purchases = Gross purchases + Freight in - Purchase discount - Purchase return

8 0
3 years ago
Roadside Markets has a 6.75 percent coupon bond outstanding that matures in 30 years. The bond pays interest annually. What is t
Murljashka [212]

Answer:

Bond Price = $945.2631228 rounded off to $945.26

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is an annual bond, the coupon payment, number of periods and annual YTM will be,

Coupon Payment (C) = 1000 * 0.0675  = $67.5

Total periods (n) = 30

r or YTM = 0.072 or 7.2%

The formula to calculate the price of the bonds today is attached.

Bond Price = 67.5 * [( 1 - (1+0.072)^-30) / 0.072]  + 1000 / (1+0.072)^30

Bond Price = $945.2631228 rounded off to $945.26

4 0
2 years ago
Assume initial full employment at W1 and N1. How might a technological change that increased productivity influence the labor ma
qwelly [4]

Technology will replace the workers and the new equilibrium will be at N2'.

Answer: Option 3.

<u>Explanation:</u>

Equilibrium in a perfectly competitive labor market happens when the supply of labor is equal to the demand of labor. As market compensation decline beneath the harmony rate, the interest for work is more noteworthy than the stock, making a deficiency of laborers.

The labor market is in balance when supply approaches request; E* laborers are utilized at a compensation of w*. In harmony, all people who are searching for work at the going compensation can get a new line of work. The triangle P gives the maker excess; the triangle Q gives the specialist overflow.

3 0
3 years ago
Great Falls Co's bank reconciliation as of February 28 is shown below $38,153 +745 -35 $37,643 Book balance Bank balance + Depos
lorasvet [3.4K]

Answer:

c. Debit Cash $745; credit Note Receivable $745.

Explanation:

It is very difficult to understand your question since it is typed in a very complex manner. I have attached a screen shot that contains the similar question, it helped me and will help others to understand the data given.

a. This entry has already been recorded in the company's accounts. It should be reconciled with the Bank Account.

b. A miscellaneous expense has been incurred but it was paid and not on credit.

c. Correct Entry. As you can see that a Note Receivable has been collected by bank from customer. So, we have to increase the Cash balance by debiting it and remove the receivables by crediting it.

d. Sales transaction is never a part of Bank Reconciliation.

e. $745 has been collected from customer and not paid to vendor. The amount paid is $1,730 which is already recorded in the Books.

4 0
3 years ago
Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $390,000 and credit sa
Lelu [443]

Answer:

d.                                                          Debit       Credit

Bad Debt Expense                           $17,000  

Allowance For Doubtful Accounts                    $17,000

Explanation:

Estimates of uncollectible ( $390,000× 5%) =     $19,500

Less: Allowance For Doubtful Accounts Credit= <u>($2500)</u>

Bad Debt Expense=                                                <u>$17,000</u>

5 0
3 years ago
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