Cash collected after the return 500 of merchandise
4,500−500=4,000
Cash collected including sales tax
4,000+0.06×4,000=4,240
So the answer is 4240
Answer:
For equipment = $430,000
For accumulated depreciation = $104,000
Explanation:
The solution of balances for equipment and accumulated depreciation is shown below:-
balances for equipment and accumulated depreciation
Particulars Equipment Accumulated depreciation
Beginning balance $390,000 $78,000
Add:
Addition $84,000 $32,000
Less:
Disposition ($44,000) ($6,000)
Balance $430,000 $104,000
Answer:
You need to get more points so you can ask questions.
Explanation:
You can do this by answering other people's questions
Answer:
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Answer:
The $286,900 is the net cash which is provided by the operating activities using the indirect method.
Explanation:
The computation of net cash provided by operating activities using the indirect method is shown below:
= Net income - decrease in accounts receivables - increase in prepaid expenses - increase in inventories
= $268,900 + $80,000 - $28,500 - $33,500
= $286,900
The decrease in accounts receivable impact the cash balance in a positive manner. So, it is added whereas, the increase in prepaid expenses and the increase in inventories have a negative impact on cash balance that's why it is deducted.
These transactions have an inflow and outflow of cash. That's why the adjustment is done accordingly
Hence, the $286,900 is the net cash which is provided by the operating activities using the indirect method.
