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4 years ago

The income statement, balance sheet, and additional information for Video Phones, Inc., are provided.

Business

1 answer:

Alina [70]4 years ago

8 0

Answer:

Net increase in cash position is $18,960

From operations $128,160

From investing activities -$83,200

From Finance activities -$26,000

Explanation:

The income statement has been uploaded for your benefit.

The schedules attached tagged "workings" explains how we arrived at each change in cash flow by line item.

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On November 7, 2017, Mura Company borrows $360,000 cash by signing a 90-day, 9% note payable with a face value of $360,000. (Use

Charra [1.4K]

Answer:

The accrued interetst is $4860 and $3240

Explanation:

Solution

Recall that:

Mura Company borrows= $360,000

Time =90/360

rate = 9%

Face value =$360,000

The next step is to compute the accrued interest payable on December 31, 2017.

Now,

Interest = 360000*9%*90/360=8100$

year end interest accrual:

Principal =$360000

time 54/360

Interest =360000*9%*54/360 = $4860

Interest recognized on February 5

Principal =$360000

Rate= 9%

Time= 36/360

Interest 360000*9%*36/360 = $3240

8 0

4 years ago

Carrot Corporation, a C corporation, has a net short-term capital gain of $65,000 and a net long-term capital loss of $250,000 d

Tpy6a [65]

Answer:

$45,000

Explanation:

For computation of Carrot’s capital loss carryover to 2018 first we need to figure out some steps which is shown below:-

Step 1

Net Capital Loss = Net Short Term Capital Gain -2017 - Net Long Term Capital Loss -2017

= $65,000 - $250,000

= -$185,000

Here, Net Capital Loss amount $185,000 which is not deductible in year 2017, but can be carried back to the three preceding years i.e. 2014, 2015 and 2016

Step 2

Net Capital Loss is set off in preceding years = Net Short Term Capital Gain - 2014 + Net Short Term Capital Gain 2015 + Net Short Term Capital Gain - 2016

= $60,000 + $45,000 + $35,000

= $140,000

and finally

Amount of loss Carryover to 2018 = Net Capital Loss - Net Capital Loss is set off in preceding years

= $185,000 - $140,000

= $45,000

5 0

4 years ago

Cosden Corporation is an oil well service company that measures its output by the number of wells serviced. The company has prov

tester [92]

Answer:

Explanation:

Fixed cost per month Variable cost per well Revenue $4,700 Salaries and Wages $41,300 $1,000 Service Materials $600 Other Expenses $40,200 When the company prepared its planning budget at the beginning of May, it assumed that 29 wells would have been serviced. However, 31 wells were actually serviced during May. Prepare the Planning Budget, Flexible Budget and variance analysis for Cosden Corporation.

<u> Planning Budget Flexible budget variance- Fav/(Unfav) </u>

Revenue 4700*29 4700*31 9400

= 136300 = 145700

Less:

Salaries and wages 41300+1000*29 41300+1000*31 (2000)

= 70300 = 72300

Service material 600*29 = 17400 600*31 = 18600 (1200)

Other expense 40200 40200 0

Profit 8400 14600 6200

7 0

3 years ago

Sraibn271 Corporation has two divisions: Domestic Division and Foreign Division. Last month, the corporation reported a contribu

Inga [223]

Answer: b) $43,650

Explanation:

Contribution margin of Domestic division + contribution margin of Foreign division - traceable fixed cost - common fixed cost = Net operating income for company

46,400 + (0.35 * 243,000) - 51,000 - Common = 36,800

80,450 - Common = 36,800

Common = 80,450 - 36,800

= $43,650

8 0

3 years ago

Where could an identity theft access your personal information?

muminat

Well any social media you have, they can just grab the info and use it for stuff they want

5 0

3 years ago