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Nitella [24]
3 years ago
12

The balance sheet data of Corinne Company at the end of 2025 and 2024 follow: 2025 2024 Cash $50 $70 Accounts receivable (net) 3

20 270 Buildings and equipment 200 150 Accumulated depreciation - buildings and equipment (36) (16) Land 180 80 Totals $714 $554 Accounts payable $180 $146 Notes payable - bank, long-term 0 80 Mortgage payable 60 0 Common stock, $10 par 418 318 Retained earnings 56 10 Totals $714 $554 Land worth $100 was acquired in exchange for common stock, par $100, during the year; all equipment purchased was with cash. Equipment costing $10 was sold for $12; book value of the equipment was $8. Cash dividends of $20 were charged to retained earnings and paid during the year; the transfer of net income to retained earnings was the only other entry in the Retained Earnings account. In the statement of cash flows for the year ended December 31, 2025, the net cash provided (used) by investing activities was:
Business
1 answer:
dezoksy [38]3 years ago
5 0

Answer:

Corinne Company

Investing Activities Section of the Statement of Cash Flows:

Equipment sales         $12

Equipment bought   ($58)

Net cash used          ($46)

Explanation:

a) Data and Calculations:

Balance Sheet of Corinne company at the end of 2025 and 2024:

                                                 2025        2024

Cash                                           $50          $70

Accounts receivable (net)         320          270

Buildings and equipment         200           150

Accumulated depreciation

- buildings and equipment      (36)            (16)

Land                                          180              80

Totals                                      $714         $554

Accounts payable                  $180          $146

Notes payable- bank long term  0             80

Mortgage payable                     60               0

Common stock, $10 par           418            318

Retained earnings                     56              10

Totals                                      $714         $554

b) other information:

Land and Common Stock exchange

Equipment sold for $12 (cost $10 and book value $8)

Cash dividends $20

c) Equipment account

Beginning balance 150

Equipment sold        -8

Balance                   142

Closing balance    200

Purchase of new     58 (200 - 142)

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4 0
2 years ago
When it comes to managing a corporation, the corporation relies on its board of directors and officers.
Wewaii [24]

It's true that when it comes to managing a corporation, the corporation relies on its board of directors and officers.

<h3>What defines corporation ?</h3>

An organization called a corporation is one whose shareholders choose a board of directors to manage its operations. The corporation, not the shareholders, is responsible for the operations and financial health of the company.

<h3>What is a corporation in business?</h3>

A corporation, also referred to as a C corp, is a separate legal entity from its owners. Corporations are able to generate revenue, pay taxes, and face legal consequences. The strongest protection against personal liability is provided to owners by corporations, although forming a corporation is more expensive than creating other types of entities.

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brainly.com/question/28017828

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7 0
1 year ago
Consider the following: Cash in Bank - checking account of $18, 500 Cash on hand of $500. Post dated checks received totaling $3
lesya [120]

Answer:

b $19,000

Explanation:

The reconciliation between the book balance and the bank statement examines the transactions recorded in either account but omitted in the other and the transactions recorded wrongly in  both accounts.

Given the following transactions

Cash in Bank - checking account = $18, 500

Cash on hand = $500

Post dated checks received =  $3 500 and

Certificates of deposits = $24,000

Cash balance in balance sheet = $18, 500 + $500 + $24,000

= $43,000

The post dated check is not included as the cash is yet to be received. The balance in the post dated check will form part of the receivables balance and not that of cash.

The certificate of deposit may be accounted for as part of cash and cash equivalent as shown in the computation above. Where the certificate of deposit is accounted for as a short term investment,

Cash balance in balance sheet = $18, 500 + $500 = $19,000

4 0
3 years ago
Nice Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Selli
attashe74 [19]

Answer:

Therefore, the change in total contribution margin is equal to change in net operating income, so there is no change in fixed expenses  and will not be affected.

Explanation:

The computation as per given question is given below:-

Variable cost per unit

= $48 + $65

= $113

Contribution margin per unit

= $240 - $113

= $127

Unit Monthly sales

= 1,500 + 240

= 1,740

Total contribution margin

= 1,740 × $127

= $220,980

Total contribution margin

= 1,500 × $192

= $288,000

So, change in total contribution margin and net operating income

= $288,000 - $220,980

= $67,020

Therefore, the change in total contribution margin is equal to change in net operating income, so there is no change in fixed expenses  and will not be affected.

6 0
3 years ago
Your company is evaluating four locations in Asia for its new customer center; according to the information provided in the tabl
tamaranim1 [39]

Answer:

1. B. Country A

2. E. Singapore and Singapore

Explanation:

1. Country A

= (0.5  * 95) + (0.3 * 90) + ( 0.2 * 80) + (0.1 + 70)

= 45 + 27 + 16 + 7

= 95

Country B

= (0.5  * 60) + (0.3 * 70) + ( 0.2 * 80) + (0.1 + 80)

= 30 + 21 + 16 + 8

= 75

Country C

= (0.5  * 50) + (0.3 * 50) + ( 0.2 * 70) + (0.1 + 40)

= 25 + 15 + 14 + 4

= 58

Country D

= (0.5  * 35) + (0.3 * 35) + ( 0.2 * 60) + (0.1 + 40)

=17.5 + 10.5 + 12 + 4

= 44

2.

Taiwan

= (0.15*85 + 0.15*85 + 0.2*70 + 0.1*85 + 0.4*30)

= (12.75 + 12.75 + 14 + 8.5 + 12)

= 60

Thailand

= (0.15*95 + 0.15*20 + 0.2*65 + 0.1*50 + 0.4*70)

= (14.25 + 3 + 13 + 5 + 28)

= 63.25

Singapore

= (0.15*40 + 0.15*95 + 0.2*75 + 0.1*85 + 0.4*70)

= (6 + 14.25 + 15 + 8.5 + 28)

= 71.75

First Recommendation - <u><em>Singapore</em></u>

Thailand political risk falls to 30.

=  (0.15*95 + 0.15*20 + 0.2*65 + 0.1*50 + 0.4*30)

= (14.25 + 3 + 13 + 5 + 12)

= 47.25

Second Recommendation - <em><u>Singapore</u></em>

3 0
3 years ago
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