Answer:
Net cash flow from operating activities = $62,200
Explanation:
EZ Company
Statement of Cash Flow
Particulars Amount ($)
Net Income 50,000
Net cash flow from operating activities:
Depreciation expense 7,000
Amortization of patent 500
Amortization of premium on bonds 1,000
Decrease in accounts receivable 2,000
Increase in inventory (1,500)
Decrease in salaries payable (800)
Increase in accounts payable <u> 4,000</u>
Net cash used or provided <u> 12,200</u>
Net cash flow from operating activities =$62,200
Cash dividend is a financing activities, that is why it is not added or deducted in the operating activities.
Answer:
The first transaction will be recorded as a note receivable, whereas the second transaction will be recorded as an account receivable.
Explanation:
The first transaction is a note recievable which is a credit instrument that requires the debtor to pay interest. The period for repayment bis usually above 30 days. Blair Automotive made the first customer sign a written promise to pay in full after six months with an annual interest rate of 3.5%.
The second transaction is an account recievable which are claims for payment that is raised by a business for delivery of products and services, it is payable within an agreed time frame. Accounts receivable does not attract interest payment. Blair Automotive sends the second customer a bill within the next two weeks, due within 30 days of receipt of the bill.
A. Knowing how to prioritize
Answer:
C) Product
Explanation:
There is fours Ps in the marketing mix
A. Place: The place denotes the location at which the product is sold and buyed
B. Price: The price is the key element of the product without which the product is not sold or even bought. Through knowing the price of the product, customers are able to purchase the product
C. Product: The product describes the attributes that attract the customer.
D. Promotion: The promotion is the way to knowing the company products either by advertising, the worth of mouth
According to the given situation, it focuses more on the product rather other elements of the marketing mix
Answer:
Dr Income Tax Expense 120,000
Cr Deferred Tax Liability 120,000
Explanation:
Deferred tax liability can be defined as the tax liability which has been due for the current period but has not yet been paid such as installment sales receivable.
Fell Corporation journal entry for to adjust the deferred tax liability
Dr Income Tax Expense 120,000
Cr Deferred Tax Liability 120,000
$2,000,000 x .4 = $800,000
$800,000- $680,000 = $120,000
