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
White raven [17]
3 years ago
15

11. Which of the following reports the cash inflows, cash outflows, and change in cash for a period?

Business
1 answer:
viva [34]3 years ago
5 0

Answer:

The statement of cashflow.

The correct answer is C

Explanation:

The statement of cashflow reports the cash inflows, cash outflows and change in cash for a period. It shows cashflow from operating activities, cash flow from investing activities and cashflow from financing activities.

You might be interested in
Rip garage, inc. (459 ellis avenue, harrisburg, pa 17111), is an accrual basis taxpayer that repairs automobiles. in late decemb
mixas84 [53]

Answer:

<u>MEMO</u>

To: Treasurer of Trip Garage, Inc.

From: Me

Subject: Dispute over accrued revenue

Mrs. S. Apple,

Good evening. Regarding your dispute over accrued revenue generated form the repair of Mr. Mosley's car, I must inform you the following:

Trip Garage, Inc., is an accrual basis taxpayer, therefore, revenues must be recorded once the repair service was completed, not when the invoice was collected.

In future occasions when similar problems show up, you should record an allowance for doubtful accounts. This way, if you believe that an account receivable is unlikely to be collected, it will be not considered for the year's financial records. This adjusting journal entry must be recorded before the end of the year, if not, all related revenues must be included in the years income statement.

Regards,

Me

Explanation:

Accrual taxpayers are required to record revenues once the revenue generating activity has been completed, i.e. Trip should have recorded $1,000 in revenue during 2017:

Dr Accounts receivable 1,000

    Cr Service revenue 1,000

If Trip didn't consider that it would be able to collect the $1,000 receivable, then it should have recorded it as bad debt expense:

Dr Bad debt expense 1,000

    Cr Allowance for doubtful accounts 1,000

If thy did not record the bad expense, then the IRS agent is right, and the $1,000 must be included in the 2017 income statement.  

3 0
3 years ago
TRUE OR FALSE
GenaCL600 [577]
I would say this is true

7 0
3 years ago
Read 2 more answers
If bonds for Crayon Corporation, with a face value of $150,000, are converted into common stock when the carrying value of the b
Llana [10]

Answer:

(C) Bonds Payable for $150,000

Explanation:

the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:

Bonds Payable        150,000 credit

Discount on bonds   15,000  debit

When the bonds are converted, we will write-off these account against common stock and additional paid-in

To wirte-off the account we need to post them in the other side so we got:

Bonds payable debit 150,000 debit

       Discount on bonds         15,000 credit

      Common Stock                       xx credit

      Additional paid.in                    xx credit

These makes option C correct

5 0
3 years ago
According to Platinum Rule Behavioral styles, a Thinking (T) individual prefers to make decisions based on:
prisoha [69]

Answer:

B) Thoughts anf Facts

Explanation:

U 2 can help me by marking as brainliest.........

7 0
2 years ago
Once a company has prepared an adjusted trial balance it is ready to prepare financial statements. Which financial statement is
Sloan [31]

Answer:

A

Explanation:

There is a sequence of preparing statements of financial statements because some statements use information from other statements of financial position. The income statement does not require information from any other statements. The retained earnings need information from income statement to calculate current retained earnings. The balance sheets require information from statement of retained earnings(retained earnings for this period).

8 0
3 years ago
Other questions:
  • In Year 1, Rona Corp. issued 5,000 shares of $10 par value common stock for $100 per share. In Year 7, Rona reacquired 2,000 sha
    7·1 answer
  • Problem statements in business reports are most effective when their matter-of-fact tone downplays the urgency of the problems.
    6·1 answer
  • Firms can take out term life-insurance policies on their top executives. <br> a. True <br> b. False
    14·1 answer
  • Colin is convinced that his product idea has tremendous potential. He has decided to produce the product himself, but plans to u
    6·1 answer
  • Cody Parker is a senior manager who is evaluating four possible projects (A, B, C, and D). Cody can fund any project in part or
    11·1 answer
  • An investor in Treasury securities expects inflation to be 1.6% in Year 1, 3.05% in Year 2, and 3.85% each year thereafter. Assu
    8·1 answer
  • Burns Corporation's net income last year was $99,200. Changes in the company's balance sheet accounts for the year appear below:
    12·1 answer
  • You are comparing two companies in the same industry. You have determined that Gore Corp. depreciates its plant assets over a 40
    9·1 answer
  • Riley operates a plumbing business, and this year the three-year-old van he used in the business was destroyed in a traffic acci
    6·1 answer
  • organizations use estimated overhead rates, instead of actual cost, to apply overhead cost to work in porcess because that metho
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!