1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
qwelly [4]
3 years ago
6

Which of the following statements is CORRECT? a. In the statement of cash flows, a decrease in inventories is subtracted from ne

t income in the operating activities section. b. In the statement of cash flows, a decrease in accounts payable is subtracted from net income in the operating activities section. c. In the statement of cash flows, depreciation is subtracted from net income in the operating activities section. d. Dividends do not show up in the statement of cash flows because dividends are considered to be a financing activity, not an operating activity. e. In the statement of cash flows, a decrease in accounts receivable is subtracted from net income in the operating activities section.
Business
1 answer:
mamaluj [8]3 years ago
8 0

Answer:

b. In the statement of cash flows, a decrease in accounts payable is subtracted from net income in the operating activities section.

Explanation:

Operating activities: It involves those transactions that even after net income affect the working capital. It would subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and a rise in current liabilities.

These adjustments would be reflected in working capital. In addition the depreciation costs are applied to the net income and the loss on the sale of assets is added while the gain on the sale of assets is deducted

You might be interested in
Plz sum one help me bc im in a argument with my friend and i don't know what to say any more
katen-ka-za [31]

ok whts the fight abt? how long have yall been fighting?

i gotchu

7 0
3 years ago
Read 2 more answers
Mrs. Jones, an appraiser, is appraising a single family residence for which she has located six comparable properties, all sold
Llana [10]

Available Options are:

1 Cost approach

2 Market data approach

3 Income approach

4 Gross rent multiplier

Answer:

Market data approach

Explanation:

The Market data is more relaible source to finding the home's market value. As in the given scenario, it is evident that the property is not an investment property, hence it is more appropriate to find the asset's value using the market data rather using the rental value to compute the value of the asset.

5 0
3 years ago
Read 2 more answers
Global industries (GI) is planning to use some existing equipment from its own facilities in a foreign project. The used equipme
coldgirl [10]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

8 0
3 years ago
Taxable income and pretax financial income would be identical for Skysong Co. except for its treatments of gross profit on insta
inessss [21]

Answer:

See the journal entry below.

Explanation:

Before preparing the journal entry, the following are calculated first:

Income tax expense in 2019 = (Taxable income in 2019 * Tax rate in 2019) + (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($158,000 * 40%) + ($195,000 * 45%) + ($92,100 * 45%) = $193,395

Deferred tax liability in 2019 = (Taxable income in 2020 * Tax rate in 2020) + (Taxable income in 2021 * Tax rate in 2021) = ($195,000 * 45%) + ($92,100 * 45%) = $129,195

Income tax payable in 2019 = Taxable income in 2019 * Tax rate in 2019 = $158,000 * 40% = $63,200

Income tax payable in 2020 = Taxable income in 2020 * Tax rate in 2020 = $195,000 * 45% = $87,750

Income tax payable in 2021 = Taxable income in 2021 * Tax rate in 2021 = $92,100 * 45% = $41,445

The journal entry will look as follows:

<u>Date                  General journal                  Debit ($)         Credit ($)    </u>

31 Dec 2019      Income tax expense          193,395  

                             Deferred tax liability                                129,195      

                             Income tax payable                                 63,200

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2020     Deferred tax liability            87,750      

                             Income tax payable                                 87,750

<u><em>                            (To record income tax payable.)                                 </em></u>

31 Dec 2021     Deferred tax liability            41,445      

                             Income tax payable                                41,445

<u><em>                            (To record income tax payable.)                                 </em></u>

5 0
3 years ago
Exercise 5-8 Equivalent Units; Cost per Equivalent Unit; Assigning Costs to Units-Weighted-Average Method [LO5-2, LO5-3, LO5-4]
S_A_V [24]

Answer:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

  • materials = 275,000 + 50,000 = 325,000
  • conversion = 275,000 + 12,500 = 287,500

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

  • materials = $169,000 / 325,000 = $0.52
  • conversion = $253,000 / 287,500 = $0.88

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May.

  • materials = 50,000 x $0.52 = $26,000
  • conversion = 12,500 x $0.88 = $11,000
  • total = $37,000

4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

  • materials = 275,000 x $0.52 = $143,000
  • conversion = 275,000 x $0.88 = $242,000
  • total = $385,000

Explanation:

Beginning WIP 70,000 units

materials $56,100

conversion $16,400

Ending WIP 50,000 units

100% completed for materials (50,000 EU)

25% completed for conversion (12,500 EU)

units started 255,000

total units transferred out 275,000

materials cost added during the period = $112,900

conversion cost added during the period = $236,600

7 0
3 years ago
Other questions:
  • Fayette Medical Clinic has budgeted the following cash flows:
    15·2 answers
  • First Choice Carpets is considering purchasing new weaving equipment costing $ 734 comma 000. The​ company's management has esti
    12·1 answer
  • What happens during the adjourning stage of the five-stage group-development model? wrapping up activities assimilating a common
    10·2 answers
  • Managers establish a shared vision in order to motivate and inspire a group movement toward that vision. select one:
    15·1 answer
  • True or False
    6·2 answers
  • Which of the following describes someone's expected outcome from
    14·2 answers
  • In September 2010, the NBER's Business Cycle Dating Committee decided that the recession that began in December of 2007 had ende
    14·1 answer
  • What are some facts about fishing? ​
    15·2 answers
  • 1. I tend to be critical of others?
    6·1 answer
  • Market failure associated with the free-rider problem is a result of.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!