Answer:
a. $118,000
Explanation:
When preparing a cash flow statement, using indirect method we add decrease in current assets and we deduct increase in current assets.
Here it is provided that income reported = $110,000
Opening balance of accounts receivables = $40,000
Closing balance of accounts Receivables = $32,000
Change in Accounts receivables = Closing - Opening = $32,000 - $40,000 = - $8,000
Therefore there is decrease in accounts receivables which is a current asset.
Thus Cash Flow from operating activities
Net Income = $110,000
Add: Decrease in current assets = $8,000
Net cash flow from operating activity = $118,000
Correct option is
a. $118,000
Answer:
It is job connection program organized by Career Source Tampa Bay for the youths of Hillsborough. It provides a platform for the unemployed youths of Hillsborough to connect themselves to the potential employers by learning new skills and experiences.
Explanation:
Career Source Tampa Bay is organizing a summer youth job connection program for the year 2021 for the youths of the Hillsborough County. It is summer job connection program for the youth who are aged between 16 to 24. It is organized by Career Source Tampa Bay.
It provides an opportunity for the youths and prepare them with skills and know how about the targeted jobs. It introduces them to real work filed and exposes them to new ideas and experiences and the potential career paths for the future jobs.
Answer:
4,700 shares
Explanation:
The computation of the number of shares of common stock outstanding at the end of the period is shown below
= Beginning shares + issued shares - repurchase shares + reissue shares
= 2,000 shares + 3,000 shares - 500 shares + 200 shares
= 4,700 shares
We applied the above equation to find out the number of shares outstanding at the end of the year
Answer:
By following the Accountants Principle and Dicksons policy of debiting Bad debt accounts as Accounts are written off, the Net income would have been impacted negatively (reduced) by the write off from Prior period of $31,330 only
However, by following the % of receivables approach, a total of $31,330 (Write off from prior period) + $9,240 (current period provision for bad debt) will impact the Net Income negatively (reduced) = $40,570
Explanation:
Accounts receivable balance = $77,000
12% projected uncollectible debt = $9,240
Provision for bad debt under the % of receivables approach = $9,240
Amount written off related to prior year = $31,330
