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alexandr1967 [171]
3 years ago
9

On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flo

ws:
ACCOUNT Land ACCOUNT NO.
Balance
Date Item Debit Credit Debit Credit
Jan. 1 Balance 885,000
Mar. 12 Purchased for cash 274,000 1,159,000
Oct. 4 Sold fo $151,000 129,000 1,030,000
Item Section of Statement of Cash Flows Added or Deducted Amount
Mar. 12: Purchase of fixed asset $
Oct. 4: Sale of fixed asset $
Gain on sale of fixed asset (assume the indirect method) $
Statement of Cash Flow:
The statement of cash flow includes the operating, investing, and financing activities sections. The statement combines the changes to the last two balance sheets and the most current income statement to reconcile changes in cash balances between two periods.
Business
1 answer:
iragen [17]3 years ago
8 0

Answer:

Flows Added

Oct. 4: Proceeds from Sale of fixed asset $151,000

Oct. 4: Gain on sale of fixed asset <em> </em>$22,000

Flows Deducted

Mar. 12: Purchase of fixed asset $274,000

Explanation:

The Cash flow statement is prepared under the following headings :

  1. Cash flow from operating activities
  2. Cash flow from investing activities
  3. Cash flow from financing activities

Therefore form the transactions we need to establish what amount fall in which category.

Here is an extract of the Cash flow statement based on the given data

Cash flow from Operating Activities

<em>Adjustment to non-cash items </em>

Gain on sale of asset<em> </em>($151,000 - $129,000) <em>    </em>$22,000

Cash flow from Investing Activities

Purchase of Asset                                             ($274,000)

Proceeds from sale of Asset                              $151,000

Cash flow from Financing Activities

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Answer:

Using the high-low method of cost estimation, total fixed costs are $47,020  

Explanation:

Cost at highest level of activity = $82,000.00

Cost at Lowest level of activity = $59,000.00

Highest level of activity = 3,300

Lowest Level of activity = 1,130

Variable cost per unit = $(82,000 - 59,000) ÷ (3,300 -1,130)  

Variable cost per unit = $23,000 ÷ 2,170  

Variable cost per unit = $10.60  

Fixed Costs = $82,000 - (3,300 × 10.60)  

Fixed Costs = $47,020  

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3 years ago
Lisa's opportunity cost rate is 10 percent compounded annually. How much must she deposit in an account today if she wants to re
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Answer:

Present value = $21,804 (approx)

Explanation:

Given:

Periodic payment = $3,200

Number of period = 12

Interest rate = 10% = 10/100 = 0.1

Present value = ?

Computation of Present value:

Present\ value = PMT[\frac{1-(1+r)^{-n}}{r} ]\\\\Present\ value = 3,200[\frac{1-(1+0.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-(1.1)^{-12}}{0.1} ]\\\\Present\ value = 3,200[\frac{1-0.318630818}{0.1} ]\\\\Present\ value = 3,200[\frac{0.681369182}{0.1} ]\\\\Present\ value = 21,803.6188

Present value = $21,804 (approx)

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3 years ago
Assess your individual capability for project teamwork. Tell why you feel you are strong in certain capabilities, and give strat
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Answer:

my individual capabilities in project teamwork include tolerance, respect for difference in values, objectivity

Explanation:

I am strong in certain capabilities because of my ability to think outside. To do this, some of my individual capabilities in project teamwork include tolerance, respect for difference in values, objectivity and avoiding instances of associated with crisis during work and an open policy system.

In the other vein, I would need to develop my weaknesses in the areas of over-tolerance and the useof vogue language when angry.

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3 years ago
Heinrich chemical corporation holds an annual meeting in which it invites all individuals who hold shares in the company. the oc
nika2105 [10]

Answer:

In this scenario, the<u> "common stockholders"</u> of the company take part in the voting process.

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Common stockholders have right to vote and they can generally vote about the matters of corporate policy, which also includes decisions about how to make the board of directors, starting corporate activities and what changes are made in the company's operations.

8 0
3 years ago
The break-even in units sold will decrease if there is an increase in: a. unit sales volume. b. total fixed expenses. c. unit va
s2008m [1.1K]

Answer:

d. Selling Price

Explanation:

Break even point is calculated as \frac{Fixed\ cost}{Contribution\ per\ unit}

Thus, break even point in units only in two cases,

  1. Fixed cost is reduced that is decreased,
  2. Contribution per unit is increased.

Now, here the options are

a. Increase in units sales volume is of no relevance as will not impact the fixed cost or contribution per unit.

b. Increase in fixed cost will result in higher break even point, as numerator in the fraction will increase.

c. Increase in unit variable cost will ultimately decrease the contribution thus, it is of no relevance.

d. Increase in selling price will increase the contribution per unit, that is the increase in denominator value in fraction, thus, break even units will decrease.

Correct option is

d. Selling Price

7 0
3 years ago
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