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The net income reported on the income statement for the current year was $210,000. Depreciation recorded on equipment and a buil

Lana71 [14]

Answer:

Cash flows from operating activities section

Amount in $

Net income 210,000.00

Depreciation 62,500.00

Change in Accounts Receivable -2,400.00

Change in Inventories 13,500.00

Change in Prepaid Expenses -600.00

Change in Accounts Payable 3,800.00

Change in Salaries Payable -750.00

Cash flows from operating activities  286,050.00

Explanation:

The operating activities includes net income, depreciation and changes in current assets and current liabilities. The depreciation as a non-cash item is added back in the cash flows statement.

An increase in current assets represents an outflow of cash hence the negative value and vice versa. The increase in current liabilities represents an inflow of cash hence it is positive and vice versa. Below are the changes.

Amount in $ Amount in $ D ifference

Change in Accounts Receivable 71,000 73,400 (2,400.00)

Change in Inventories 140,000 126,500 13,500.00

Change in Prepaid Expenses 7,800 8,400 (600.00)

Change in Accounts Payable 62,600 66,400 3,800.00

Change in Salaries Payable 9,000 8,250 (750.00)

7 0

4 years ago

Explain how the amount of your deductible is likely to affect the amount of your premium.

Lapatulllka [165]

Answer:

See below

Explanation:

A deductible is an amount you upfront to a health insurance provider before insurance coverage can begin. The insurance company will not pay for health care services before the deductible is paid.

There is an indirect relationship between the amount of deductible paid and the premiums to be paid. When the deductible amount is high, the insurance premiums are low.

If the insurance policy has a low deductible requirement, the insurance premiums will be high.

8 0

3 years ago

Beginning finished goods inventory $ 10,000 ending finished goods inventory $ 8,200 unadjusted cost of goods sold $ 48,000 what

damaskus [11]

Manufacturing cost is the total manufacturing cost of goods completed during a particular accounting period. These costs include direct materials, direct labor, and manufacturing overhead for products transferred from manufacturing to finished goods inventory.

The manufacturing cost of goods is important. Because it gives management an overview of the total cost of production and whether that cost is high or low. By better understanding the cost of goods produced, the company can make adjustments to maximize overall profitability.

Correct answer $46400

Working

Unadjusted cost of goods sold $ 48,000

Add: Ending finished goods $ 8,400

Less: Beginning finished goods $ (10,000)

Cost of goods manufactured $ 46,400

Learn more about goods manufactured here

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6 0

2 years ago

_________ is another term for a defensive strategy. multiple choice a fixed plan the aggressive approach a stability strategy a

alexandr1967 [171]

A retrenchment strategy is another term for a defensive strategy.
Companies use the retrenchment strategy with the goal to reduce the diversity or the overall size of the operations of the company and by doing so to cut expenses and reach to a more stable financial position.
This strategy will revitalize the organizational resources.

8 0

3 years ago

__________ is a business owned by a minimum of two and a maximum of fifty shareholders, which limits the liability of owners to

Ugo [173]

Answer:

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Explanation:

3 0

3 years ago