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Sav [38]
3 years ago
5

Nova Electrics anticipates cash flow from operating activities of $12 million in 20X1. It will need to spend $9.5 million on cap

ital investments to remain competitive within the industry. Common stock dividends are projected at $.40 million and preferred stock dividends at $.32 million.
a. What is the firm’s projected free cash flow for the year 20X1? (Enter your answer in millions of dollars rounded to 2 decimal places.)
Business
1 answer:
Ulleksa [173]3 years ago
6 0

Answer:

$1.78 million

Explanation:

Firm’s projected free cash flow for the year 20X1:

= cash flow from operating activities - capital investment - Common stock dividend - preferred stock dividend

= $12 million - $9.5 million - $0.40 million - $0.32 million

= $1.78 million

Therefore, the firm’s projected free cash flow for the year 20X1 is $1.78 million.

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Kingbird, Inc. uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable
antoniya [11.8K]

Answer:

(a) The adjusting journal entry to record bad debt expense for the year:

Debit Bad debt expense  $5,640

Credit Allowance for doubtful accounts  $5,640

<em>(To record bad debt expense)</em>

(b) If the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, The appropriate journal entries are:

Debit Bad debt expense $9,460

Credit Allowance for doubtful accounts  $9,460

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Explanation:

To arrive at the bad debt expense for Kingbird, Inc., we simply need to calculate 3% of accounts receivable, as follows:

2% of $429,500 = $8,590

Since the allowance for doubtful accounts has a credit balance of $2,950, the bad debt expense will be: $8,590 - $2,950 = $5,640. The appropriate journal entries are as provided above.

However, if the allowance for doubtful accounts had a debit balance of $870 instead of a credit balance of $2,950, the bad debt expense will be: $8,590 + $870 = $9,460. The addition is necessary in order to reinstate the allowance account to $8,590. The appropriate journal entries are as provided above.

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3 years ago
Suppose you run a business that develops Web sites for e-commerce. You charge a flat fee of $2,700 to create the Web site. One o
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Divide the two numbers
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The city of New Orleans has 200 advertising companies, 199 of which employ designers of normal ability at a salary of $100,000 a
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a. $700,000

86%

c. No

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6/7 or 0.857 or 86% of his salary is thus economic rent. This is found by 600,000/700,000

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