All categories

3 years ago

Lacey Company prepared the tabulation below at December 31, 2022. Net Income $310,000

Business

1 answer:

valentinak56 [21]3 years ago

5 0

Answer:

Net cash provided by operating activities is $325,000.

Explanation:

Lacey Company

Cash Flow Statement (Operating Activities Only)

December 31, 2022.

Details Amount ($)

Net Income 310,000

Depreciation expense 45,000

Increase in accounts receivable (55,000)

Decrease in inventory 12,000

Increase in accounts payable 6,000

Increase in prepaid expenses (4,000)

Decrease in income taxes payable 3,500

Gain on disposal of land 7,500

Net cash provided (used) by operating activities  325,000 

You might be interested in

Mary makes 10 pies and 20 cakes a day and her opportunity cost of producing a cake is 2 pies. Tim makes 20 pies and 10 cakes a d

monitta

Answer:

If Mary and Tim specialize in the good in which they have a comparative advantage, ______.

Mary would specialize in making cakes while Tim would specialize in making pies.

Explanation:

a) Data and Calculations:

Mary's opportunity cost of making a cake = 2 pies

She can make additional 5 (10/2) cakes instead of making pies

This will increase her cakes to 25 a day (20 + 5)

Tim's opportunity cost of making a cake = 4 pies

She can make additional 40 pies (10 * 4) instead of making cakes

This will increase her pies to 60 pies a day (20 + 40)

When they specialize there will be 25 cakes and 60 pies produced in a day instead of 30 cakes and 30 pies.

5 0

3 years ago

First Bank offers personal loans at 7.7 percent compounded monthly. Second Bank offers similar loans at 7.4percent compounded da

Korolek [52]

Answer:

The First Bank loan has an effective rate of 7.98 percent.

Explanation:

we calcualte the effective rate for both loand and check which statement is correct.

First bank:

$(1+\frac{0.077}{12} )^{12} = 1 + r_e$

$(1+\frac{0.077}{12} )^{12} - 1 = r_e$

1.07977643 - 1 = 0.07977 = 7.98%

Second bank:

$(1+\frac{0.074}{365} )^{365} = 1 + r_e$

$(1+\frac{0.077}{365} )^{365} - 1 = r_e$

1.076798729 - 1 = 0.076798729 = 7.68%

Notice tthis isthe effective rate not the annual percentage rate.

So only the statement abour the first bank effectibe rate is true.

7 0

3 years ago

Lorraine works for a company that does not pay very well. She relies heavily on extra paychecks that her company gives out a cou

Nataliya [291]

Answer: Bonus pay plan of individual-level performance-based pay

Explanation:

In this scenario, an extrinsic reward used here is the bonus pay plan. An extrinsic reward simply means a reward that is being given to the employee of a particular company after a particular thing has been achieved.

Here, a bonus pay plan of individual-level performance-based pay is being used. A bonus is given to the employee for meeting a particular requirements. Bonus are calculated base on either the percentage of ones wages or salaries or by using a flat rate.

3 0

3 years ago

Self-imposed budgets typically are:

Pepsi [2]

Answer:

C. subject to review by higher levels of management in order to prevent the budgets from becoming too loose.

Explanation:

Self-imposed budgets typically are subject to review by higher levels of management in order to prevent the budgets from becoming too loose.

Self-imposed budget also known as the participative budget is a type of budget where individuals having responsibility for controlling costs, prepares their own budget estimates and present them to the top level of management for review.

3 0

3 years ago

In which Step of production process are materials manipulated

12345 [234]

Answer:

tread count

Explanation:

different sizes

8 0

2 years ago