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3 years ago

On November 1, Orpheum Company accepted a $10,000, 90-day, 8% note from a customer settle an account.

Business

1 answer:

stellarik [79]3 years ago

6 0

Answer:

B- Debit Note Receivable $10,000; credit Accounts Receivable $10,000.

Explanation:

The following Journal entry is to recorded by the Orpheum company on November 1 in its accounts when it receives the note receivable from the credit customer to settle an account:

Debit Credit

Note Receivable $10,000

Accounts Receivable $10,000

Based on the above journal entry, the answer shall be B- Debit Note Receivable $10,000; credit Accounts Receivable $10,000.

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Statement of cash flows

likoan [24]

Answer:

Palmetto Statement of Cashflows

For the Year Ended December 31, 2013

Cashflow from Operating Activities

Net Cashflow from Operaing Activities $15,600

Cashflow from Investing Activities

Net Cashflow from Investing Activities ($23,000)

Cashflow from Financing Activities

Net Cashflow from Financing Activities ($4,500)

Net Increase (Decrease) ($11,900)

Add: Beginning of Period Cash balance $32,000

Ending Cash Balance $20,100

b. Operating Cash flow relates to the normal business operations of the business. A Net Cash Inflow from this therefore means that the business made a profit from its normal operations of selling fast food during 2013.

c. Investing Activities relate to transaction involving Fixed Assets as well as the stocks and bonds of other companies. The Net Cash flow was probably caused by Palmetto buying more Fixed Assets than they disposed of in the year 2013.

d. Financing activities relate to how the business is financed in terms of Equity and debt. The payments of Dividends therefore fall under here as they relate to Equity. A net cash outflow here therefore probably means that Palmetto paid out dividends to shareholders. They might have also repaid some loans but judging by how small the outflow is, the loans were either small or it was only dividends that were paid out.

4 0

3 years ago

A manager is trying to decide whether to purchase a certain part or to have it produced internally. Internal production could us

Sergio [31]

Answer:

For both 10,000 units and 20,000 units, the best alternative is Vendor B

Explanation:

Using the information provided in the question, we can write the following:

Annual Volume of 10,000 units

Internal Alternative 1

Variable costs = 170,000 (we multiply the variable cost per unit by total units)

Fixed costs = 20,000

Total costs = 370,000

Internal Alternative 2

Variable costs = 140,000

Fixed costs = 240,000

Total costs = 380,000

Vendor A

Total cost = 200,000 (we simply multiply the price by the quantity)

Vendor B

Total cost = 180,000

Vendor C

Total cost = 190,000

The cheapest option is Vendor B

Now for the 20,000 units:

Internal Alternative 1

Variable costs = 340,000

Fixed costs = 200,000

Total costs = 540,000

Internal Alternative 2

Variable costs = 280,000

Fixed costs = 240,000

Total costs = 520,000

Vendor A

Total cost = 400,000

Vendor B

Total cost = 360,000

Vendor C

Total cost = 380,000

Therefore, Vendor B is once again, the cheapest alternative.

5 0

3 years ago

Puffin Corporation makes a property distribution to its sole shareholder, Bonnie. The property distributed is a car (basis of $3

Svetllana [295]

Answer:

Puffin’s E & P after taking into account the distribution of the car is $6,000.

Explanation:

E & P will be decreased by the higher of the adjusted basis or the fair market value of the distributed property, net of any liabilities. The distribution losses will not be taken into consideration when determining E & P. Thus the current E & P of Puffin’s $30,000 is reduced by $24,000 ($30,000 basis of the car minus the liability amount). The remaining after the distribution current E & P will be $6,000.

Therefore, Puffin’s E & P after taking into account the distribution of the car is $6,000.

5 0

3 years ago

____ management encourages managers to make facts and logic the foundation of their approach to decision-making.

Gemiola [76]

Evidence based management encourages managers to make facts and logic the foundation of their approach to decision-making.

<h3>What is meant by evidence based management?</h3>

This s the term that has to do with the type of management that is more likely involved with the ability of a person to engage in critical thinking. It is the type of management that lays aside feelings and relies instead on the ability of people to think and come up with facts.

Hence we can ay that Evidence based management encourages managers to make facts and logic the foundation of their approach to decision-making.

Read more on evidence based management here; brainly.com/question/24847839

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7 0

2 years ago

The useful life of a new plant asset _____. is the same as the asset's total productive life. might not exceed one year. might b

gulaghasi [49]

Answer:

The correct answer is letter "C": might be estimated based on the experience of others or on engineering studies and judgment if the company does not have past experience with a similar asset.

Explanation:

A company's assets represent the cash, patents, accounts receivable, equipment, plants, and land, among others, useful for the firm to generate profit. When it comes to plant assets, they are considered fixed assets for cost accounting purposes and are nothing but the land, buildings and machinery useful for manufacturing.

Calculating the useful life of a plant asset can be complicated and may require engineering studies. However, if the expertise of an employee is good enough to determine it the firm must take advantage of this strength but if there is nobody with this capability the institution should look for someone who does moreover when it does not have experience computing the useful life of such assets.

8 0

3 years ago