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monitta
3 years ago
14

Georgia Corp. uses the indirect method to prepare the statement of cash flows. Refer to the following section of the comparative

balance​ sheet: Georgia Corp Comparative Balance Sheet December​ 31, 2019 and 2018 2019 2018 ​Increase/(Decrease) Cash ​$45,000 ​$27,000 ​$18,000 Accounts Receivable ​48,000 ​45,000 ​3,000 Merchandise Inventory ​180,000 ​132,000 ​48,000 Total Assets ​$273,000 ​$204,000 ​$69,000 How will the change in Accounts Receivable be shown on the statement of cash​ flows?
Business
1 answer:
Alexxandr [17]3 years ago
6 0

Answer:

($3,000)

An outflow

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

In cash flow statements, an increase in assets(other than cash) is treated as a cash outflow while a decrease is considered as an inflow of cash.

Hence if accounts receivables balance increases from $45,000 i 2018 to $48,000 in 2019, the change of $3,000 will be shown as an outflow.

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Elan Coil [88]
Callable Certificate of Deposit is a type of savings account that a financial institution can terminate.
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3 years ago
On May 19, Easy Repair Service extended an offer of $123,000 for land that had been priced for sale at $141,000. On June 4, Easy
mylen [45]

Answer:

$134,000.

Explanation:

According to the rules of GAAP,  the asset's value recorded in the books is the cost at which it was acquired. The recorded value becomes the assets book value. For tangible assists such as land, motor vehicles, and buildings, the book value will comprise the actual assets' cost plus all other acquisition related costs such as agents fee and surveys fee.

For easy service repairs, the price it paid was $134,000. It accepted the counteroffer, meaning it paid that amount for the land. No other related costs are mentioned. $134,000 is the book value for the land.

6 0
3 years ago
match the name to the letter indicating the functional business area within the enterprise system finance
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Enterprise applications are systems that have cross-functional boundaries, concentrate on carrying out business operations throughout the whole corporate organization, and include all management levels.

Enterprise applications are systems that have cross-functional boundaries, concentrate on carrying out business operations throughout the whole corporate organization, and include all management levels. By tightly synchronizing their business operations, enterprise apps enable firms to become more adaptable and productive.

Four main corporate apps are as follows:

  • Business systems
  • Systems for managing the supply chain
  • Systems for managing customer relationships
  • Information management techniques

Each of these enterprise applications combines a related set of operations and business procedures in order to improve organizational performance overall.

To learn more about the functional areas of business:

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3 0
1 year ago
Because of his business's recent success, Sam has decided to expand his Sam's Swimming Pool Cleaning to include another branch.
ivann1987 [24]

Answer: initially Sam gross profit would drop. But overtime when he starts gaining customers in his new branch added to the already existing customers in his old branch there would a very large gross profit increase.

Explanation: Gross profit is the percentage of revenue a company retains after accounting for cost of goods/services.

In this case payment of staffs in both the old and new branches would be accounted for, with the new branch still very much dependent on the old branch for payment of staff until it can get its own customers, only then would the new branch be able to be self reliant and also make profit.

6 0
3 years ago
Read 2 more answers
John hamilton borrowed $500,000 from stone creek bank to open a new restaurant called sauce-it-up. John transferred $450,000 of
xxMikexx [17]

The appropriate reflection of the cash transactions between these reporting entities is as follows:

        John Hamilton       Sauce-it-up          Stone Creek Bank

Cash   +$500,000           $450,000             -$500,000

           -$450,000

Balance $50,000            $450,000             -$500,000

<h3>What is a reporting entity?</h3>

A reporting entity is an economic unit that publishes general purpose financial reports to enable users make and evaluate their decisions about the allocation of scarce resources.

Thus, John Hamilton's cash holding increased by $50,000 net.  The cash holding of Sauce-It-Up increased by $450,000 while the cash holding of Stone Creek Bank decreased by $500,000.

Learn more about cash flows of reporting entities at brainly.com/question/24179665

7 0
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