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harina [27]
3 years ago
11

Zoum Corporation had the following transactions during the year: Issued $250,000 of par value common stock for cash. Recorded an

d paid wages expense of $120,000. Acquired land by issuing common stock of par value $100,000. Declared and paid a cash dividend of $20,000. Sold a long-term investment (cost $8,000) for cash of $6,000. Recorded cash sales of $800,000. Bought inventory for cash of $320,000. Acquired an investment in Zynga stock for cash of $42,000. Converted bonds payable to common stock in the amount of $1,000,000. Repaid a 6-year note payable in the amount of $440,000. What is the net cash provided by financing activities?
Business
1 answer:
ANTONII [103]3 years ago
8 0

Answer:

-$210,000

Explanation:

Issued Common Stock at par for Cash $250,000

Less:

Declared and paid a cash dividend $20,000

Repayment of 6-year note payable $440,000

Net Cash provided by Financing Activities ($210,000)

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Cambridge Co. uses the allowance method. During January 2019, Cambridge writes off a $640 customer account balance when it becom
yan [13]

Answer:

The correct answer is option (a).

Explanation:

According to the scenario, computation of the given data are as follows:

Allowance method shows that, if account is written off, then Accounts receivable account gets credited and Allowance accounts gets debited.

Here, both accounts are or balance sheet items.

So, it will not affect any expenses account.

8 0
3 years ago
Bob is evaluating a bond issue to determine the right price for the bond. In his evaluation, he gathers the following informatio
Elanso [62]

Answer:

The price of the bond is $1000. Thus, option a is the correct answer.

Explanation:

The price of a bond is calculated using the present value of the interest payments made by the bond, which is in the form of an annuity, plus the present value of the face value of the bond. The present value is calculated by discounting the annuity of interest and the face value by the YTM or yield to maturity. In case YTM is not provided, we assume that it is same as or equal to the coupon rate paid by the bond.

The formula for the price of the bond is attached.

Bond Price = 25 * [(1 - (1+0.025)^-8) / 0.025]  +  1000 / (1+0.025)^8

Bond Price = $1000

5 0
3 years ago
As owner of a retail franchise food store, Mary Grey purchases supplies based on specials advertised nationally throughout the f
Artemon [7]

Answer: Sharing information across the organisation

   

Explanation: In the given case, Mary grey is the owner of a retail store hence it is her duty to know all the goods that are offered by her store. However she did not knew the special goods when the customers asked for it.

This shows that the franchise company is not performing effectively in the area of sharing information as all the stakeholders do not know all the relevant information.

7 0
3 years ago
Parliament Company, which expects to start operations on January 1, year 2, will sell digital cameras in shopping malls. Parliam
ss7ja [257]

Answer:

Note: <em>The complete question is attached as picture below</em>

<em />

We are add the previous month +10% to get that month's amounts

                              Sales Budget

                       January     February    March

Cash sales      $50,000   <u>$55,000</u>    <u>$60,500</u>

Credit sales    $120,000  <u>$132,000</u>  <u>$145,200</u>

Total sales      $170,000 <u>$187,000</u>  <u>$205,700</u>

<u>Workings</u>:

February

Cash sales = 50,000+(50,000*10%) = $55,000

Credit sales= 120,000+(120,000*10%) = $132,000

March

Cash sales = 55,000+(55,000*10%) = $60,500

Credit sales= 132,000+(132,000*10%) = $145,200

7 0
2 years ago
An ad agency creates two ads for a particular car. one stresses the car's safety and gas mileage; the other simply shows how fun
muminat

Answer:

Central, Peripheral

Explanation:

The advert is intended to highlight the pros of the particular car. However, the ad agency recognizes that to convince prospective buyers they must explore different options to persuasion. The car's safety and gas mileage are the Central Route. The driving fun is the Peripheral

3 0
3 years ago
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