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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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Ferris Company began January with 6,000 units of its principal product. The cost of each unit is $8. Merchandise transactions fo
makkiz [27]

Answer and Explanation:

Ferris Company

1. Average cost periodic

Dollars $48,000+$ 105,000

= $153,000

Units $11,000+$6,000

= $17,000

153,000 / 17,000 = $9.00 Cost per unit

Cost of Goods Sold:

9,000 units × $9.00= $81,000

Ending Inventory:

8,000 units × $9.00= $72,000

2. Average cost perpetual Jan 5th sales

Dollars 48,000

Units 6000

48,000 / 6,000 = $8.00 Cost per unit

Cost of goods Sold:

3,000 units × $8.00= $24,000

Ending Inventory:

3,000 units × $8.00= $24,000

3. Average cost perpetual Jan 12th sales

Dollars 69,000

Units 8000

69,000 / 8,000 = $8.625 Cost per unit

Cost of Goods Sold:

2,000 units × $8.625

= $17,250

Ending Inventory:

6,000 units × $8.625

= $51,750

4. Average cost perpetual Jan 20th sales

Dollars 60,000+51,750

=111,750

Units 6000+6000

=12,000

111,750 / 12,000 = $9.3125 Cost per unit

Cost of Goods Sold:4,000 units ×$9.3125= $37,250

Ending Inventory:8,000 units × $9.3125= $74,500

Summary of Average Cost Perpetual

Cost of Goods Sold:

Jan 5 3,000 units= $24,000

Jan 12 2,000 units= 17,250

Jan 20 4,000units = 37,250

Total 9,000units = $78,500

Summary of Results

Cost ofGoods Sold EndingInventory

FIFO, Periodic $ 75,000 $78,000

LIFO, Periodic$87,000 $66,000

LIFO, Perpetual $82,000 $71,000

Average Cost, Periodic $81,000 $72,000

Average Cost, Perpetual $78,500 $74,500

8 0
3 years ago
Which of the following is true about multicollinearity?
Komok [63]

Answer:

d. It is best measured using the statistic variance inflation factor (VIF).

Explanation:

Multicollinearity is an important issue in multiple regression model, having many independent/ explanatory variables. Multicollinearity is the situation in which two or more independent variables are highly correlated. It is problematic because it increases the standard error of independent variable coefficient & undermines its statistical significance

Variance Inflation Factor [VIF] is a check & corrective measure of multicollinearity.  

  • VIF as a multicollinearity check : It quantifies the correlation between one explanatory variable with other explanatory variables.VIF = 1 implies there is no multicollinearity (correlation between independent variables); VIF upto 5  implies there is moderate multicollinearity (correlation between independent variables). VIF > 5 implies high multicollinearity (correlation between independent variables)
  • VIF as a multicollinearity correction : Calculating  Var (\beta j ) = σ^2 / [TSS j (1 - R^2j)] ; where TSS = total sum of square of variable j , σ^2 =  j variance, R^2 j = R^2 from regressing all other independent variable on variable j
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3 years ago
Approximately 80% of the population on madagascar consists of subsistence farmers who use a slash and burn technique called ____
crimeas [40]

Approximately 80% of the population on Madagascar consists of subsistence farmers who use a slash and burn technique called Tavy to clear forests. This traditional Malagasy farming method Taly is used to clear forest for farming land. The method involves setting vegetation alight after being cut down, creating potential land for rice cultivations.

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3 years ago
Which of the following is not a reason to chose a community college?
anzhelika [568]

C. Or at least that seems to be the most likely. There are only two similar possible answers which is normally a clue that one of them is wrong and you should be choosing based off how it will benefit you not how it is easier on you.

Hope this helps!

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3 years ago
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Economic activities that involve the extraction of natural resources, such as lumbering, fishing, mining, and agriculture, are c
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Activities that do that are called adolescent
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