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sdas [7]
3 years ago
9

Accounts receivable arising from sales to customers amounted to $40,000 and $55,000 at the beginning and end of the year, respec

tively. In addition, during the year equipment was purchased for $50,000 cash, accounts payable increased by $50,000, and net income was $180,000. Based upon this activity, the cash flows from operating activities to be reported on the statement of cash flows is Select one: a. $145,000. b. $165,000. c. $ 95,000. d. $195,000. e. $215,000.
Business
2 answers:
Allushta [10]3 years ago
7 0

Answer: The answer is e. $215,000.

Explanation: Based on the information provided in the question, see the cash flows statement below:

XYZ Cash Flows Statement

Net income                                                         $180,000

Increase in account receivable                           (15,000)

Increase in accounts payable                              50,000

Cash flows from operating activities             $215,000

  • Note that the purchase of equipment of $50,000 cash would not be considered under cash flows from operating activities but would rather be considered under cash flows from investing activities.
  • Increase in accounts receivable means outflow of cash while increase in accounts payable means non-payment of debt, that is, inflow of cash.
Luden [163]3 years ago
6 0

Answer:

e. $215,000.

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.  

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

Increase in assets other than cash is an outflow, while the increase in liability is an inflow of cash.

The cash flows from operating activities to be reported on the statement of cash flows is

= -$15,000 + $50,000 +$180,000

= $215,000

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Financial Statements from the End-of-Period Spreadsheet
alexdok [17]

Answer: See explanation

Explanation:

Triton Consulting Income Statement For the Year Ended April 30, 20Y3:

Fees earned 279000

Less: Expenses:

Salary expenses = 242000

Supplies expenses 1650

Depreciation expense. 900

Miscellaneous expenses 2000

Total expense = 246550

Net income 32450

Triton Consulting Balance Sheet April 30, 20Y3

Assets

Current assets

Cash 21500

Account receivable 51150

Supplies 750

Total current asset = 73400

Property, plant and equipments

Office equipment 32000

Accumulated Depreciation 5400

Total property,plant and equipment = 26600

Total asset = 100,000

Liabilities

Current liabilities:

Account payable: 3350

Salary payable: 2000

Total liabilities = 5350

Stockholders equity

Common stock 20000

Retained earnings 74650

Total stockholders equity = 94650

Total liability and stockholders equity = 100,000

5 0
3 years ago
At Hodgson Corporation, direct materials are added at the beginning of the process and conversions costs are uniformly applied.
nika2105 [10]

Answer:

$2.25 per unit

Explanation:

The computation of the cost per equivalent is shown below:

= Total conversion cost ÷ total units completed

where,

Total conversion cost is

= Beginning work in process conversion cost + cost of conversion added

= $20,250 + 271,125

= 291,375

And, the number of units is

= Units completed + work in process ending inventory units × completion percentage

= 115,700 units + 23,000 units × 60%

= 115,700 + 13,800

= 129,500 units

So, the cost per equivalent unit for conversion cost is

= $291,375 ÷ 129,500 units

= $2.25 per unit

4 0
3 years ago
Andrew Flint is the CEO of a small, publicly held company based in Idaho Falls, Idaho. Flint earned $76,000 last year as CEO. In
Natasha2012 [34]

Answer:

D, Flint can simply write ot the SEC to voice his concerns.

Explanation:

Since Flint does not have a case that warrants a court challenge but rather an observation, Flint can simply write to the SEC to intimate them about his observations and/or findings, as well as let the SEC know the position of his company on the rule being proposed by it.

Cheers.

6 0
3 years ago
Which sentence from the passage supports the following statement?
vazorg [7]

Answer:

idk sorry have a good day!!!!!

Explanation:

8 0
3 years ago
What key factor kept the copernican theory from being widely accepted at first?
Amiraneli [1.4K]
The key factor that kept the Copernican is that Roman Catholic Church had decided that earth was the center of the universe and contrary opinions were heresy. The Copernican also proposed that a heliocentric system had decided the the Earth is the center of the universe and all of the contrary opinions regarding this was false.
7 0
3 years ago
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