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m_a_m_a [10]
3 years ago
8

Software Distributors reports net income of $53,000. Included in that number is depreciation expense of $9,000 and a loss on the

sale of land of $4,800. A comparison of this year's and last year's balance sheets reveals a decrease in accounts receivable of $23,000, a decrease in inventory of $14,000, and an increase in accounts payable of $43,000. Required Prepare the operating activities section of the statement of cash flows using the indirect method.
Business
1 answer:
AnnyKZ [126]3 years ago
3 0

Answer and Explanation:

<u>Cash flows (Indirect method) from Operating Activities.   </u>

<u>Particular                                                               Amount  </u>

Net Income                                                        $53,000

Adjustment:  

Add:   Depreciation expense                         $9,000  

           Loss on sale of land                                  $4,800  

           Decrease in A/c receivables                 $23,000  

           Decrease in Inventory                         $14,000  

<u>            Increase in A/c payable                         $43,000  </u>

<u>Net Cash flows from Operating activities  $146,800</u>

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BlockWood Inc. has been providing raw materials to Couches Corp., a furniture company. The management at Couches recently decide
fomenos

Answer:

Forward integration

Explanation:

Forward integration is a type of business strategy in which the business activities should be carried forward for incorporating the complete production of the product i.e. from the raw material to the end manufacturing of the product along with the supply chain and its logistics. In this, the supplier of the raw material should extend the business to the end manufacturing of the product

So as per the given situation, it is a forward integration

8 0
2 years ago
Online auction sites that involve business transactions between users of products and services are categorized as _____ e-commer
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Online auction sites that involve business transactions between users of products and services are categorized as consumer-to-consumer (C2C) e-commerce.

A business is an activity that makes a living or makes money by manufacturing or selling products (such as goods or services) [1][2][3][4]. It is also "an activity or enterprise engaged in for profit". Liabilities incurred in the business. If the company acquires debt, the creditor can trace the owner's personal belongings. The corporate structure does not allow corporate tax rates. Owners are personally taxed on all income from the business. The term is also commonly used colloquially to refer to entities such as corporations and cooperatives (but not by lawyers or public officials).

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5 0
1 year ago
The following information was taken from the bank reconciliation for Mooner Sooner Inc. at the end of the year:
Lunna [17]

Answer:

The correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year is $5,800.

Explanation:

For adjusting the bank statement balance do not consider note collected by the bank, service fee and NSF check returned. Note collected by the banks are already recorded in the bank passbook, so there is no adjustments are needed in the bank statement. Service charge is deducted by the bank, so service charge also recorded in bank passbook; hence no adjustments are required in the bank statement balance. In the case of NSF check returned no adjustments are needed in the bank statement balance.

correct bank balance = Bank balance + Deposits outstanding - Checks outstanding

                                    = $9,000 + $4,600 - $7,800

                                     = $5,800

MAKE SURE YOU AVOID THIS:

For calculating correct cash balance only checks outstanding and deposits outstanding are adjusted with bank balance. For getting correct cash balances add deposit outstanding to the balance as per the bank and minus outstanding checks. Deposit in transit amount must be added to the bank side of the bank reconciliation statement and outstanding check must be deducted from the bank side of the bank reconciliation statement. Here, bank balance is $9,000, checks outstanding are $7,800 and deposits outstanding is $4,600, hence correct cash balance is $5,800.

Therefore, The correct cash balance that should be reported in Mooner Sooner's balance sheet at the end of the year is $5,800.

3 0
3 years ago
The factors of production include natural resources, labor, government assistance, and entrepreneurship.
noname [10]
<span>The answer is True. The four factors mainly used for production is, Land(means natural resources and technology), labor(working people for dedication to work), capitol(investment and government assistance totally that represent services) and entrepreneurship(the activity of setting up a business).</span>
4 0
3 years ago
Read 2 more answers
Two costs at Bradshaw Company appear below for specific months of operation. Month Amount Units Produced Delivery costs Septembe
arsen [322]

Answer:

(a) Delivery costs are mixed and utilities are variable.

Explanation:

Mixed costs are costs that are fixed and variable, for example, delivery costs are mixed because of the fixed cost of having the delivery equipment, like trucks and cars, and the variable is the amount of gas that you pay for it, then utilities are variable because the problem doesn´t specify that they are not.

8 0
3 years ago
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