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olga_2 [115]
2 years ago
14

Sunset Acres reported net income of $60 million. Included in that number were trademark amortization expense of $2 million and a

gain on the sale of land of $1 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $2 million, $5 million, and $4 million, respectively. What were Sunset’s cash flows from operating activities? (Amounts to be deducted should be indicated with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).)
Business
1 answer:
Bess [88]2 years ago
5 0

Answer:

$62 million

Explanation:

Adjustments for non-cash effects:

= Amortization expense - Gain on the sale of land

= $2 million - $1 million

= $1 million

Changes in operating assets and liabilities:

= Decrease in accounts receivable - Decrease in accounts payable + Decrease in inventory

= $2 million - $5 million + $4 million

= $1 million

Net cash flows from operating activities:

= Net income + Adjustments for non-cash effects + Changes in operating assets and liabilities

= $60 million + $1 million + $1 million

= $62 million

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Profits of a large corporation are taxed twice, once as corporate income and again as personal income of stockholders.
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True, profits of a large corporation are taxed twice, once a corporate income and again as personal income of stockholders. This is because the corporation is taxed when they earn the profit but then the stockholders are taxed as it is paid out as income/earnings. 
6 0
2 years ago
Kyoko's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Kyoko's very tiny kitchen has barely e
Dvinal [7]

Answer: variable; fixed

Explanation: In the short run, Kyoko's workers are variable inputs. This is because, the number of workers needed can be varied based on production needs, even in the short run. Examples are energy, labor etc.

Kyoko's ovens are fixed inputs. Fixed inputs are those inputs whose quantities cannot be changed in the short run by a firm as it seeks to change the quantity of output produced. Examples are equipment, land and building.

6 0
3 years ago
Pharoah Company uses the lower-of-cost-or-net realizable value basis for its inventory. The following data are available at Dece
ANTONII [103]

Answer:

$6,689

Explanation:

As we know that the inventory should be recorded at cost or net realizable value which ever is lower

Particulars      Item Units      Unit Cost         Net Realizable Value    LCNRV

Minolta              7                    $175                $157                              $157

Canon               11                    142                   176                               $142

Vivitar               14                    130                   111                                $111

Kodak               17                     120                  132                              $120

So, the amount of ending inventory is

= 7 units  × $157 + 11 units × $142 + 14 units × $111 + 17 units × $120

= $1,099 + $1,562 + $1,988 + $2,040

= $6,689

4 0
3 years ago
PLEASE HELP ME
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Answer:

i clicked on this when i didnt mean to and i dont know how to exit

Explanation:

6 0
2 years ago
A ____________ would be a misconfiguration of a system that allows the hacker to gain unauthorized access, whereas a____________
Murrr4er [49]

Answer:

Vulerability and Risk

Explanation:

Uncertainity is the vulnerability of an outcome and is not quantifiable whereas the risk is that the firm will be affected by an outcome which is quantifiable. So here the vulnerability of a system is its misconfiguration that has a loophole which would affect the firm and the hacker can hack these systems easily. Whereas the risk that the hacker will exploit the misconfiguration opportunity, such a hack using system misconfiguration is quantifiable and can be measured from past data and system configuration and security measures.

3 0
3 years ago
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