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Semmy [17]
3 years ago
15

The cost of merchandise sold during the year was $45,000. Merchandise inventories were $13,500 and $10,500 at the beginning and

end of the year, respectively. Accounts payable were $7,000 and $5,000 at the beginning and end of the year, respectively. Using the direct method of reporting cash flows from operating activities, cash payments for merchandise total
Business
1 answer:
GenaCL600 [577]3 years ago
4 0

Answer:

cash payments for merchandise total is $44,000

Explanation:

purchase for the year

Beginning Investment + Purchases - Ending Investment = Cost of Merchandise sold

13,500 + Purchases - 10,500 = 45,000

Purchases = 42,000

Therefore, the total cash paid  for merchandise

Beg. A/P + Purchases - End. A/P = Cash Paid

7,000 + 42,000 - 5,000 = $44,000

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Tax that you pay when making a profit from selling a house is an example of:
UkoKoshka [18]
Tax that you pay when making a profit from selling a house is an example of: <span>A. Capital Gains Tax 
Every time you sell an asset that is not under investment category, The difference between your selling price with the initial cost when you buy that asset should be recorded as a Capital Gain.
In United states, you're inclined to pay around 28 % from the total capital gain as Capital Gain Tax</span>
4 0
3 years ago
Read 2 more answers
Venzuela Company’s net income for 2020 is $50,000. The only potentially dilutive securities outstanding were 1,000 options issue
aev [14]

Answer:

$4.67 per share

Explanation:

The calculation of the diluted earning per share is given below:

= (Total income - preference dividends) ÷ (outstanding shares + diluted shares)

where,

Total income is $50,000

Outstanding shares is 10,000

And, the diluted shares is computed by following calculations

Amount paid towards shares = Options issued × Exercise price per share

= 1,000 × $6

= $6,000

And,

Value of options = Amount paid towards shares ÷ Current market price

= $6,000 ÷ $20

= 300

Therefore,

Diluted shares is

= Options issued - value of options

= 1,000 - 300

= 700

So Diluted Earnings per share is

= ($50,000) ÷ (10,000 + 700)

= $4.67 per share

4 0
3 years ago
Sassy Company sells its widgets for $20 each. Its variable cost is $12 per widget. Fixed costs are $150,000 per month for volume
disa [49]

Answer:

$440,000

Explanation:

Sassy Company budgeted operating income

Operating income will be :

(20-12) $80,000 - $200,000

=8×$80,000-$200,000

=$640,000-$200,000

=$440,000

Therefore the budgeted operating income at a level of 80,000 widgets per month will be $440,000

7 0
3 years ago
Read 2 more answers
Kendra owns a sporting goods store. She is in court because of a breach of contract lawsuit against her supplier. One of the ter
Olenka [21]

<u>Answer:</u>

<em>Yes, but only to clarify the ambiguous contract terms </em>

<em></em>

<u>Explanation:</u>

Breach of contract is a legitimate reason for activity and a sort of common wrong, wherein a sound understanding of anticipated trade isn't regarded by at least one of the gatherings to the agreement by non-execution or obstruction with the other party's presentation.

A material breach is the most genuine type of break of agreement. In these cases, somebody has failed to maintain their obligations as spread out in the contract. At the point when this happens, the harmed party can seek after harms in a standard suit. In the end, when a contractual worker finishes an undertaking yet isn't paid, this is viewed as a material breach.

6 0
3 years ago
London corp. issued 1,000 shares of stock for $20 per share. what are the effects of this transaction?
Anarel [89]

Based on the fact that London Corp, issued 1,000 shares at $20 per share, the effects of this transaction are:

  • Increase in cash
  • Increase in common stock

<h3>What happens when stock is issued?</h3>

When stock is issued newly, the stock will be sold for cash which in this case is;

= 1,000 x 20

= $20,000

This means that cash in the company has increased.

Something else that will increase is the common stock. This is the account where the value of the issued stock will go to.

Find out more on stock issuance at brainly.com/question/25562729

#SPJ1

8 0
1 year ago
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