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aleksandr82 [10.1K]
3 years ago
7

Cornett Company reported the following information: cash received from the issuance of common stock, $150,000; cash received fro

m the sale of equipment, $14,800; cash paid to purchase an investment, $20,000; cash paid to retire a note payable, $50,000; and cash collected from sales to customers, $225,000. What amount should Cornett report on its statement of cash flows as net cash flows provided/used by investing activities
Business
1 answer:
Alex Ar [27]3 years ago
5 0

Answer:

The correct option is B,-$5,200 as found in the attached.

Explanation:

The net cash flows provided/used by investing activities are cash flows(both inflows and outflows) on assets that are capable of generating earnings directly or indirectly for the business.

By direct ,I mean assets that are used directly in the business to enhance the business earnings while indirect relates those that are not used in core business operations.

Cash flow from investing activities is computed:

Cash received from sale of equipment    $14,800

cash paid to purchase investment            ($20,000)

Cash flow used in investing activities       ($5,200)

The correct option is B as found in the attached .

Download xlsx
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Over the past 50 years, many countries have experienced an annual growth rate in real GDP per capita greater than that of the Un
Lady_Fox [76]

Answer:

No, the U.S. is not regressing

No, it will not take over the U.S.

Explanation:

No, the United States is not regressing because the poor country can boost their growth rate by taking the advanced technology from the developed countries like the United States. So it is easy to poor countries to increase their growth rate but for the developed nations who already using the advance technology is difficult to increase growth rate.

No, the country will not take over the United States because the percentage increase in GDP can be greater but actual value of GDP will be very high in developed nations.

3 0
3 years ago
Economic analysis indicates minimum wage legislation has a. made it possible for any teenager who wants to work to earn almost 8
ivann1987 [24]

Answer:

d. is correct

Explanation:

made it easier for teenagers to find jobs that offer the opportunity for training.

Everyone starts a career , step by step, from the minimum salary to the top of income.

5 0
3 years ago
Please also provide step by step explanation/ working thank you Live Wire Hot Rod Shop follows the revenue recognition principle
N76 [4]

Answer:

B. July 31

Explanation:

Revenue recognition principle assumes that revenues are recognized when they are realized or relizable and are earned, in respective of when payments are received.

It states that one should only record revenue when it has been earned, not when the related work payments is collected. Also, money paid in advance for a work should be recorded as a liability not revenue.

Since Live Wire services uses revenue recognition principles, then the day they'd record it as revenue is thesame day the job was done and completed which was July 31st.

6 0
3 years ago
When auditing, the IRS typically selects which type of return?
mote1985 [20]

Answer:

When auditing, the IRS typically selects those with high incomes.

Explanation:

The Internal Revenue Service (IRS) is a United States government entity charged with the sole duty of collecting taxes and regulation of laws with regard to income tax. The IRS was constituted by the then President Abraham Lincoln in 1862 and gets it's authority under the United States department of Treasury.

The IRS collects taxes from either individuals or companies provided they earn an income withing the United States of America. Individuals and corporations can file income taxes electronically by use of an internet enabled computer or even a smart phone.

IRS audits are usually done to confirm whether the tax returns filed are accurate. The audits can be done for a variety of reasons, but it is mainly done if the tax income filed are not coherent with the nature of the individual or company. The IRS audits are not done on every entity that files their income taxes, but only on a select portion of these entities. Those who have high incomes are usually selected for auditing.

8 0
3 years ago
According to Debra, the vice president of sales and marketing, Theo Chocolate's competitive advantage within the chocolate indus
tensa zangetsu [6.8K]

ANSWER: The most correct option is, option D. " Is the only company that manufactures organic fair trade chocolate".

EXPLANATION: The Theo chocolate which has been in existence since 2006 and they are the first and only chocolate company that uses organic fair trade in it's chocolate production in America. They has used an organic fair trade strategy, to bring in concerns from chocolate lovers, which shows how genuine and compassionate the company has been to cocoa farmers by announcing a fair price for buying cocoa from all farmers. This will also make chocolate lovers, to believe the company uses organic products in it's production of chocolate. This marketing strategy has made the Theo chocolate to be operational till date.

7 0
4 years ago
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