Henry Ford had a big influence in what era

The management team of Wickersham Brothers Inc. is preparing its annual financial statements. The statements are complete except

garik1379 [7]

Answer:

A Schedule Summarizing Operating, Investing, and Financing Cash Flows, using the T-account approach:

Operating Investing Financing

Debit Credit Debit Credit Debit Credit

1. Equipment $71,000

2. Note Payable $13,500

3. Common Stock $20,000

4. Cash Dividends $22,800

5. Accounts Payable $2,700

6. Income Tax Expense $4,000

7. Interest Expense $3,000

8. Net Income $53,720

9. Depreciation $21,280

10. Tax & Interest $7,000

11. Accts receivable $13,500

12. Inventory $6,750

13. Salaries Payable $1,350

Total inflows/

outflows $83,350 ($26,950) ($71,000) $20,000 ($39,300)

Net cash from $56,400 ($71,000) ($19,300)

Operating activities $56,400

Investment activities ($71,000)

Financing activities ($19,300)

Net cash flows ($33,900)

Explanation:

a) Data and Calculations:

1. Current Year Prior Year

Balance Sheet

Assets

Cash $ 78,900 $ 99,300

Accounts Receivable 108,000 94,500

Merchandise Inventory 81,000 87,750

Property and Equipment 152,000 81,000

Less:

Accumulated Depreciation (43,280) (22,000)

Total Assets $ 376,620 $ 340,550

Liabilities:

Accounts Payable $ 13,500 $ 16,200

Salaries and Wages Payable 2,700 1,350

Notes Payable, Long-Term 67,500 81,000

Stockholders’ Equity:

Common Stock 128,000 108,000

Retained Earnings 164,920 134,000

Total Liabilities &

Stockholders’ Equity $ 376,620 $ 340,550

2. Current Year Income Statement

:

Sales $ 340,000

Cost of Goods Sold 180,000

Depreciation Expense 21,280

Other Expenses 85,000

Net income $ 53,720

3. The Wickersham Brothers Inc.'s Statement of Cash Flows is one of the three main financial statements that the management of Wickersham Brothers Inc. must prepare and present to the stockholders of the company and the general public. It details the Wickersham's cash flows under the operating activities, investing activities, and financing activities sections.

4 0

3 years ago

As the number of firms in an oligopoly increases, a. the total quantity of output produced by firms in the market gets closer to

Aleksandr [31]

Answer:

A is the correct answer.

Explanation:

Oligopoly is the market form in which a small number of large sellers dominate. It results in the reduction of the competition and leads to higher prices for consumers. they have their market structure. In oligopoly each firm stays aware of others, hence their decisions influence others and vice versa. The developed economies are dominated by Oligopolies. For example, if the total market share of the American telecom companies (Verizon wireless, AT and T and T mobile ) is combined, it comes out to be more than ninety percent.

4 0

2 years ago

Cassidy is planning to obtain a loan from her bank for $210,000 for a new home. the bank has approved cassidy’s loan at a fixed

Grace [21]

Cassidy's approximate monthly payment stands at $1420. if Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.

<h3>What is the payment monthly?</h3>

The monthly payment is the quantity paid per month to pay off the loan in the time period of the loan. When a loan is taken out it isn't only the top amount, or the original payment loaned out, that needs to be repaid, but also the good that accumulates.

<h3>What is a loan amortization schedule?</h3>

It is described as the systematic method of representing loan payments according to the time in which the principal amount and interest exist mentioned in a list manner

It is given that:

Cassidy lives planning to obtain a loan from her bank for $210,000 for a new home.
A fixed annual interest rate of 2.7% compounded monthly for 15 years.

The formula is:

$P=F_{P} (i)/1-(1+i)^{-1}$

Plug all the values in the above formula:

$P=210000(2.7/12)/1-(1+(2.7/12)^{-15*12}$

$1420.

Hence,

Cassidy's approximate monthly payment stands at $1420.

To learn more about monthly payment, refer

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4 0

1 year ago

1. Which country has the comparative advantage in DVDs? (Remember! OOO Output –Other goes Over!) [2 pts]

yarga [219]

The answer is Country B

Comparative advantages can be described as a country's ability to product a certain product in higher quantities and lower price (efficiently) compared to another country.

In this case, Country A can product 100 CDs and only 100 DVDs, by while country B has the capacity to produce 50 CDs but 200 DVDs.

Clearly Country B has a better infrastructure to produce DVDs in bulk

5 0

3 years ago

Read 2 more answers

Carter Corporation made sales of $ 825 million during 2018. Of this amount, Carter collected cash for $ 710 million. The compa

salantis [7]

Answer:

Part (a) The net income of carter is $115 million.

Part (b) The closing cash balance at the end of year is $360.

Explanation:

Part (a) Net Income Computation:

Sales $825

Cost of goods sold <u>(</u><u>$290</u><u>)</u>

Gross Profit $535

Other Expenses <u>(</u><u>$425</u><u>)</u>

Net income $115 Million

Part (b) The cash balance of Carter is not dependent on non cash flows. So the cash transactions would be considered here for cash balance computation.

Opening Cash position $290

Collection from Sales $710

Inventory Invoices paid ($350)

For Everything <u>($290)</u>

Closing Cash balance $360

4 0

3 years ago