Answer:
$265,000
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.
An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.
Net cash provided by operating activities for the year
= $242,000 - $32,000 - $10,000 + $65,000
= $265,000
<span> contribution margin income statement</span>
Answer:
D. All of these are differences between the two type of business
Explanation:
The sole proprietorship is a business organzation owned, controlled and organized by one person.
Features of sole proprietorship
1. It is owned and controlled by one person
2. The owners is personally liable for all business debt.
3. Owners can establish a sole proprietorship instantly, easily, and inexpensively.
4. Sole proprietorships rarely survive the death of their owners.
5. Capital is limited since the business owner is the only provider of capital.
Features of Corporation
1. It protect its owners from personal liability for corporate debts and obligations.
2.A corporation has perpetual life, that is, when shareholders pass on or leave a corporation, they can transfer their shares to others who can continue a corporation's business
3. Corporation is owned by its shareholders and managed by its board of directors.
4. Corporations can raise capital more easily through the sale of securities.
Answer:
Land $433,350 (debit)
Cash $113,350 (credit)
Note Payable $ 320,000 (credit)
Explanation:
IAS 16 - Cost of Asset includes Purchase Cost and other costs directly incurred in putting the asset in the location and condition intended for use by management.
<u>Calculation of the Cost of Land</u>
Purchase Price: Cash 105,000
: Note 320,000
Delinquent Property tax 2,000
Title Insurance 850
Preparation Costs 5,500
Total 433,350
<u>Journal </u>
Land $433,350 (debit)
Cash $113,350 (credit)
Note Payable $ 320,000 (credit)
<span>Power users often work with UNIX because of its flexibility and capabilities.
UNIX is a widely spread and used operating system. UNIX is a brand that was set up as an operating system to help multi stream and multi operate many channels at once for the organization and their customers.
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