1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
makkiz [27]
3 years ago
9

The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the

income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars.
2015 2016
Revenue $4,000 $4,100
Cost of goods sold 1,600 1700
Depreciation 500 520
Inventories 300 350
Administrative expenses 500 550
Interest expense 150 150
Federal and state taxes 400 420
Accounts payable 300 350
Accounts receivable 400 450
Net fixed assets' 5000 5800
Long-term debt 2000 2400
Notes payable 1000 600
Dividends paid 410 410
Cash and marketable
securities 800 300


* Taxes are paid in their entirety in the year that the tax obligation is incurred.
Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed.
Working Capital. What was the change in net working capital during the year?
Business
1 answer:
Whitepunk [10]3 years ago
8 0

Answer:

The change in net working capital for the year is $50,000

Explanation:

Net working capital is the difference between Current assets and current liabilities. Change in net working capital is the difference between net working capital at the beginning and st the end.

current assets at the beginning =( 300+400+800)=1500

Current assets at the end = ( 350+450+300)= 1100

current liabilities at the beginning = (300+1000)= 1300

current liabilities at the end = (350+600)= 950

net working capital at the beginning = 1500 - 1300= 200

net working capital at the end = 1100 - 950= 150

therefore the change in net working capital for the year is 200 - 150 =50 000

You might be interested in
The owner of a leased property conveys possession of the property to the tenant providing them with uninterrupted us of the prop
Harrizon [31]

Answer:

Quiet enjoyment

Explanation:

Quiet enjoyment is a clause in lease agreement that provides a guarantee that the tenant will occupy the property in peace without interference from any other claimants or the landlord.

For example this clause protects a tenant from being removed from a property by someone of higher rank or authority like an agent.

The law recognises quiet enjoyment even when it is not stated explicitly in a lease agreement. It is assumed that every tenant has a right to quiet enjoyment

6 0
3 years ago
On December 31, Cruise Company has 18,000 units of an inventory item, which cost $46 per unit when purchased on June 15. The sel
Maksim231197 [3]

Answer:

the inventory be reported at on the December 31 balance sheet is $828,000

Explanation:

Here the inventory should be recorded at lower of cost or net realizable value

Since the cost per unit is $46

And, the net realizable value is $48

So, the lowest cost per unit is $46

Now the ending inventory reported is

= 18,000 units × $46 per unit

= $828,000

hence, the inventory be reported at on the December 31 balance sheet is $828,000

6 0
2 years ago
Shelby Boat Wash's cost formula for its cleaning equipment and supplies is $2,940 per month plus $35 per boat. For the month of
Vilka [71]

Answer:

$1,540

Explanation:

Calculation for the activity variance for cleaning equipment and supplies in September

First step is to calculate for theFlexible budget

Using this formula

Flexible budget =[Cleaning equipment and supplies +(Amount per boat ×Actual level of activity)

Let plug in the formula

Flexible budget =[$2,940 + ($35 × 29)]

Flexible budget =$2,940+$1,105

Flexible budget =$3,955

Second step is to calculate for the Planning budget using this is formula

Planning budget =[Cleaning equipment and supplies +(Amount per boat ×Planned activity ]

Let plug in the formula

Planning budget= [$2,940 + ($35 × 73)]

Planning budget=$2,940+$2,555

Planning budget=$5,495

Now let calculate for the activity variance

Using this formula

Activity variance=Flexible budget-Planning budget

Let plug in the formula

Activity variance=$3,955-$5,495

Activity variance=$1,540 Favorable

Therefore the Activity variance for cleaning equipment and supplies in September is closest to:$1,540 Favourable reason been that the flexible budget is lesser than the planning budget

5 0
3 years ago
This activity is focused on understanding what international business is, why and how it differs from domestic business, why it
Dafna11 [192]

Answer:

ang haba naman po

Explanation:

kaya niyo na iyan hehe

5 0
3 years ago
If the company budgets to need 4000 units to sell for a month, has a beginning inventory of 1000 units and a desired ending inve
Alecsey [184]

Answer:

5,500 units

Explanation:

The computation is shown below:

Given that

Need to sell the units in a month = 4,000 units

Beginning inventory = 1,000 units

Desired ending inventory = 2,500 units

So, by considering the above information, the units to be produced is

= Desired ending inventory + need to sell the units in a month - beginning inventory

= 2,500 units + 4,000 units - 1,000 units

= 5,500 units

5 0
3 years ago
Other questions:
  • The retained earnings statement shows all of the following except the amount of dividends paid during the period. the changes in
    14·1 answer
  • Explain how organizations manage the changing environment​
    14·2 answers
  • Blue Company owns 80 percent of the common stock of White Corporation. During the year, Blue reported sales of $1,000,000, and W
    12·1 answer
  • What are the types of information salespeople need to prepare for sales dialogue?
    5·1 answer
  • Calculate real gdp given nominal gdp and inflation
    7·1 answer
  • When managerial accountants assign costs to the production of specific products, the costs that are easiest to assign are
    6·1 answer
  • In the middle of this decade, the United States imported about $800 billion more in goods and services than it exported, thereby
    11·1 answer
  • Ivory Corporation, a calendar year, accrual method C corporation, has two cash method, calendar year shareholders who are unrela
    9·1 answer
  • Wildhorse Co. had the following assets on January 1, 2022. Useful Life (in years) Item Cost Purchase Date Useful Life (in years)
    13·1 answer
  • A trademark is an exclusive right granted to its owner to publish and sell a musical, literary, or artistic work during the life
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!