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3 years ago

"Accounting systems are important because they are a primary source of information for managers"

Business

1 answer:

Alinara [238K]3 years ago

6 0

Answer:

The statement is: True.

Explanation:

Information reported in the accounting books of a company is the core database managers handle to make decisions. Earnings, profits, and most importantly, costs allow high executives to determine in what direction they should take the organization to meet its objectives.

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Kingbird Company prepared the tabulation below at December 31, 2022. Net Income $300,000 Adjustments to reconcile net income to

notka56 [123]

Answer and Explanation:

The preparation of the partial cash flow statement is shown below:

Cash flow from operating activities

Net income $300,000

Add: Depreciation expense $25,000

Less: Increase in accounts receivable -$75,000

Add: Decrease in inventory $15,000

Add: Amortization of patent $4,000

Add: Increase in accounts payable $7,500

Add: Decrease in interest receivable $4,000

Less: Increase in prepaid insurance -$7,000

Less: Decrease in income taxes payable -$2,000

LesS: Gain on disposal of plant assets -$10,000

Net cash provided (used) by operating activities $261,500

6 0

3 years ago

Betty Lou has a car washing and detailing business. She charges $20 to wash a car, a process that takes her 20 minutes and req

Readme [11.4K]

The correct answer is; Raise her prices on the car detailing or only wash cars.

Further Explanation:

It makes the most sense that Betty Lou raise the pricing on the car detailing. Since the materials cost more than the washing materials and car detailing takes more time, she is losing money in the long run.

If Betty doesn't want to raise her prices, she should only continue to wash cars since she can do this faster and make more money on average. This is the most efficient use of her resources. Betty can use advertising to get more clients and repeat clients that liked her car detailing will be willing to pay more for her services.

Learn more about money resources at brainly.com/question/13726693

#LearnwithBrainly

5 0

3 years ago

Target's liabilities exceed owners' equity.<br> a) true<br> b) false

Likurg_2 [28]

Answer: True

Explanation:

As of February 2020, Target Corp's total liabilities were listed to be $30,946,000,000 while its shareholder equity was significantly lower at $11,833,000,000.

Target Corp therefore does indeed have liabilities that exceed owners equity and by a substantial amount. This has also been the trend since at least 2015.

4 0

3 years ago

Montana Furniture Mart sold $120,000 of furniture on June 30 and accepted the customer's $120,000 10% 1-year note payable in exc

ICE Princess25 [194]

Answer:

$6,000

Explanation:

Data given in the question

Sale value of the furniture = $120,000

Interest rate = 10%

So by considering the above information, the interest recorded is

= Sale value of the furniture × interest rate × number of months ÷ total number of months in a year

= $120,000 × 10% × 6 months ÷ 12 months

= $6,000

The six months is calculated from June 30 to December 31 and we considered the same for the above calculation

4 0

4 years ago

Rosie's has 1,300 shares outstanding at a market price per share of $10. Sandy's has 2,000 shares outstanding at a market price

Ad libitum [116K]

Answer:

$14,800

Explanation:

Rosie's has 1,300 shares outstanding at a market price of $10

Sandy's had 2,000 shares outstanding at a market price of $23

The incremental value of the acquisition is $1,800

Therefore, the value of Rosie's to Sandy's can be calculated as follows

=( 1,300×$10)+$1,800

= $13,000+$1,800

=$14,800

Hence the value of Rosie's to Sandy's is $14,800

5 0

4 years ago