Answer:
$726,100
Explanation:
Preparation of the operating activities section of the 2021 statement of cash flows.
Cash Flow from Operating Activities
Net Income $634,000
Adjustments:
Depreciation and amortization $89,000
Changes in operating asset and liabilities
Decrease in Account receivable $24,000
Increase in Inventory $ (9,400)
Increase in Prepaid expenses $ (8,700)
Increase in Salaries payable $10,200
Decrease in Income tax payable $ (13,000)
Operating activities $726,100
Therefore the operating activities section of the 2021 statement of cash flows will be $726,100
Answer:
Entrepreneur
Explanation:
Production is process of manufacturing goods using different components. It is the transportation of materials to finished goods.
The factors of productions include land, labour, capital and entrepreneur.
Land means all natural resources, which are free gifts of nature. Examples include: gold, iron, land tin, water, soil, forest, air, etc. The reward for land as a factor of production is RENT.
Labour means the human energy used in production. It involves all mental and physical effort of man used in the production process. It is divided into skilled and unskilled labour. Skilled labour means all mental effort put into production process while unskilled labour means all physical effort used in the production process. The reward for labour as a factor of production is WAGES.
Capital is the resources used to start a business. All money and resources used in the production process is refers to as capital. The reward for capital is INTEREST.
Entrepreneur is the KEY factor of production. He provides and control all other factors of production. He manages all other factors of production to achieve the organisational goal. He takes responsibility for the success or failure of the organisation. The reward for entrepreneur is PROFIT
The activities reflected in the accounting system are:
- 1. Analyzing and interpreting reports. - Communicating
- 2. Acquiring knowledge of revenue transactions. -identifying
- 3. Reporting debt owed to lenders. - Communicating
- 4. Maintaining a log of sales transactions.- recording
- 5. Measuring revenue from a holiday sale.- recording
- 6. Measuring the costs of a product. - recording
- 7. Reporting the profitability of a product line. - Communicating
- 8. Preparing financial statements. - Communicating
<h3>What are some aspects of accounting?</h3>
There is the communicating aspect which is related to how information from the financial statements are presented so that people have access to that communication.
Identifying refers to finding out the various accounting transactions. Recording refers to all aspects of noting down information in accounting and putting them in financial statements.
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Answer: The correct answer is "C. agency problem".
Explanation: The agency problem is defined as a conflict of interest between the corporate shareholders and the corporate managers.
Agency theory is a business technique whereby shareholders (the principal) ask another person (the agent or manager) to perform a certain job on their behalf. For an agency relationship to exist, the agent must be authorized by the principal to sign, modify or cancel contracts with third parties on behalf of the principal.
The agency problem basically consists in solving how the principal can ensure that the agent performs the action optimally for his (principal's) interests, and not his own.
Answer:
a. balance sheet (B)
b. income statement (1)
c. statement of stockholders' equity (SE)
d. income statement (1)
e. statement of stockholders' equity (SE)
f. balance sheet (B
g.balance sheet (B
h.balance sheet (B
Explanation:
The Balance Sheet consists of balances in the Asset , Liabilities and Equity Accounts and it uses the equation Assets = Equity + Liability.It shows the result as at the end of the Financial Period.
The Income statement comprises of Revenues or Incomes and Expenses. The profit or loss resulting from operation during the financial period is the the end goal of this financial statement.
The statement of stockholders' equity (SE) shows the interest of the owners of the company and any distributions out of profit that has been made to them during the year.
