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4 years ago

The following information is available for Sage Hill Corporation for the year ended December 31, 2022.

Business

1 answer:

puteri [66]4 years ago

5 0

Answer:

Statement of cash flows for the year ended December 31, 2022

Cash flow from Operating Activities

Net income 337,000

Adjustment for Non - Cash Items :

Depreciation expense 75,000

Adjustment for Working Capital Items :

Accounts payable decrease (3,500)

Accounts receivable increase (8,700)

Inventory increase (12,100)

Income tax payable increase 4,400

Net Cash from Operating Activities 392,100

Cash flow from Investing Activities

Cash received for sale of land at book value 43,000

Cash used to purchase building (145,000)

Net Cash from Investing Activities (102,000)

Cash flow from Financing Activities

Cash dividends paid (11,800)

Cash used to purchase treasury stock (33,900)

Cash received from issuing bonds 258,000

Net Cash from Financing Activities 212,300

Movement During the year 502,400

Cash and Cash Equivalents at Beginning of the year 43,000

Cash and Cash Equivalents at End of the year 545,400

Explanation:

Prepare the Cash flow Statement under the following headings :

Cash flow from Operating Activities
Cash flow from Investing Activities
Cash flow from Financing Activities

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A recession within a nation will _________ imports directly, but the impact on the national economy is negative.

katen-ka-za [31]

A recession within a nation will <u>reduce</u> imports directly, but the impact on the national economy is negative.

Monetary policy. monetary policy consists of the steps the central bank of a nation can take in order to regulate the nation's money supply. For example, a central bank might reduce interest rates during a recession in order to make loans more readily available to other banks and thus stimulate economic recovery.

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2 years ago

You own a coffee shop where a cup of coffee sells for $2.99. Your cost on the cup of coffee is $0.90. Calculate the margin

Pepsi [2]

Answer:$2:09

Explanation: If you subtract the 2 you will get your answer! :)

(Sorry I just read the question wrong)

3 0

3 years ago

When receiving food, you can refuse to accept when if

aliya0001 [1]

Answer:

When receiving food, you can refuse to accept when if it has a foul odor

Explanation:

Such foul odor makes such food to be rejected because of the health implication as well as it does not equate to the money paid for such services rendered.

5 0

4 years ago

In the RST partnership, Ron's capital is $80,000, Stella's is $75,000, and Tiffany's is $50,000. They share income in a 3:2:1 ra

uysha [10]

Answer:

C. Stella, Capital will be debited for $4,000.

Explanation:

As for the provided information, we have,

Out of all the partner's Tiffany is retiring.

Tiffany's capital balance = $50,000

On his retirement he is paid $60,000

Since no goodwill is recorded, the excess amount paid over capital = $60,000 - $50,000 = $10,000, will be debited in remaining partner's ratio.

Ron's share in these $10,000 = $10,000 $\times$ 3/(3+2) = $6,000

Stella's share = $10,000 $\times$ 2/(2+3) = $4,000

Thus, Correct answer is debiting Ron's capital by $6,000 and Stella's capital by $4,000

3 0

3 years ago

Presented below are selected account balances for Homer Winslow Co. as of December 31, 2014.

Stells [14]

Answer:

1. Dr Sales Revenue $411,940

Cr Income Summary $411,940

2. Dr Income summary $341,540

Cr Cost of Goods Sold $225,870

Cr Sales Returns and Allowances $13,650

Cr Sales Discounts $15,290

Cr Selling Expenses $17,400

Cr Administrative Expenses $39,150

Cr Income Tax Expense $30,180

3. Dr Income summary $70,400

Cr Retained earning $70,400

4. Dr Retained earnings $19,080

Cr Dividend $19,080

Explanation:

Preparation of closing entries for Homer Winslow Co. on December 31, 2014

1. Dr Sales Revenue $411,940

Cr Income Summary $411,940

(Being To close expense accounts)

2. Dr Income summary $341,540

($225,870+$13,650+$15,290+$17,400+$39,150+$30,180)

Cr Cost of Goods Sold $225,870

Cr Sales Returns and Allowances $13,650

Cr Sales Discounts $15,290

Cr Selling Expenses $17,400

Cr Administrative Expenses $39,150

Cr Income Tax Expense $30,180

(Being To close expense accounts)

3. Dr Income summary $70,400

( $411,940 -$341,540 )

Cr Retained earning $70,400

(Being To close net income)

4. Dr Retained earnings $19,080

Cr Dividend $19,080

(Being To close dividends to retained earnings)

6 0

3 years ago