How do you pay back an auto loan?

Accounts receivable arising from sales to customers amounted to $80,000 and $70,000 at the beginning and end of the year, respec

vichka [17]

Answer:

b. $290,000

Explanation:

The computation of the cash flows from operating activities to be reported on the statement of cash flows is shown below:

= Net income reported on the income statement + decrease in account receivable

where,

Net income reported = $280,000

And, the decrease in account receivable is $10,000 ($70,000 - $80,000)

So, the cash flow from operating activities

= $280,000 + $10,000

= $290,000

The decrease in account receivable implies that more cash is come so it would be added and the same is shown above

5 0

2 years ago

The Nelson Company has $1,522,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $395,000

Pie

Answer:

$308,750

Explanation:

Current ratio = Current asset / Current liabilities

To get the short term debt increase, to the value of current assets and current liabilities, an amount must be added whereas the result must be 2.2

1,522,500 + y / 525,000 + y = 2.2

1,522,500 + y = 2.2 × (525,000 + y)

1,525,500 + y = 1,155,000 + 2.2y

1,525,500 - 1,155,000 = 2.2y - y

370,500 = 1.2y

y = 370,500 / 1.2

y = 308,750

It therefore means that the maximum amount that should be borrowed to purchase the inventory is $308,750

5 0

2 years ago

A company uses the periodic inventory system and had the following activity during the current monthly period.

Alekssandra [29.7K]

Answer:

The answer is: $3,289

Explanation:

<u>Date</u> <u>Units </u> <u>Unit price</u> <u>Inventory</u> <u>Average cost</u>

Purchases

Nov. 1 103 units $20 per unit $2,060 $20 per unit

Nov. 5 103 units $22 per unit $4,326 $21 per unit

Nov. 8 53 units $23 per unit $5,545 $21.41 per unit

<u>Nov. 19 30 units $25 per unit $6,295 $21.78 per unit</u>

TOTAL 289 units $21.78 per unit $6,295 $21.78 per unit

Sales

Nov. 16 -138 units $21.78 per unit $3,006 $21.78 per unit

Ending inventory

Nov. 30 151 units $21.78 per unit $3,289 $21.78 per unit

3 0

2 years ago

Americans’ core value of upward mobility (i.e., success will come to anyone who works hard) has greatly influenced the way luxur

galina1969 [7]

<span>this phenomenon is an example of a Social factor

in marketing term, social factor is everything that could change people's lifestyle.
As people move toward luxurious lifestyle, they tend to care less about the high price for the product, and care more about the quality, authenticity, and the rarity of the product, so the marketing strategy need to be altered to target these characteristics</span>

4 0

3 years ago

Marco, Jaclyn, and Carrie formed Daxing Partnership (a calendar-year-end entity) by contributing cash 10 years ago. Each partner

kirill [66]

a. The hot assets per Section 741(a) for this sale are as follows:

i. Accounts receivable

ii. Inventory

iv. Potential depreciation recapture in the equipment

b. Marco's gain or loss on the sale of his partnership interest is $33,000.

c. The character of Marco's gain or loss is <u>iv. $33,000 capital gain</u>.

<h3>What is a partnership interest?</h3>

A partnership interest refers to a partner's ownership and benefits that accrue from the partnership.

The partnership interest entitles the partner to participate in the distribution of profits and losses arising from the partnership business.

<h3>Data and Calculations:</h3>

Each partner's outside basis = $104,000

Sale proceeds of Marco's partnership interest = $137,000

Gain = $33,000 ($137,000 - $104,000)

Thus, Marco, who sold his partnership interest to Ryan, had a capital gain of $33,00 because of the difference between the sale proceeds and the partner's adjusted basis in the partnership interest.

Learn more about partnership interests at brainly.com/question/14835194

4 0

1 year ago