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Arturiano [62]
3 years ago
5

Harris Supply has sales of Sales of $230, Cost of Goods Sold of $78, Depreciation of $40 and Interest Expense of $12. If their t

ax rate is 35%, what is the net income and operating cash flow?
Business
1 answer:
kupik [55]3 years ago
8 0

Answer:

cash provided by operating activities 105

Explanation:

We will use the indirect method.

First, we calculate the net income.

sales                    230

COGS                   (78)

depreciation        (40)

interest expense  (12)

EBT                       100

tax rate 35%

tax expense          (35)

net income             65

Now, we adjust the income by removing the non-monetary term

cash flow from operating activities:

net income                     65

adjustment to net income

non-monetary term

depreciation expense    40 (A)

adjusted net income           105

cash provided by operating activities 105

<u>Notes:</u>

(A) The depreciation expense is an acconting metric, it is used in accounting it does not represent a cash outflow, so it is removed from their effect on net income

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"obligation to transer cash or other resources as a result of a past transaction" is called ____________
spin [16.1K]

Answer:

The correct answer is: Liability.

Explanation:

A liability is an obligation that arises during the course of business. It represents a third party's claim in the company's assets usually from lenders or other creditors. Liability can arise in many different ways. Liabilities can be borrowing or a promise to pay later or any other type of obligation because of past transactions.

7 0
3 years ago
Elliott has the following capital gain and loss transactions for 2021. a. Short-term capital gain $1,500 b. Short-term capital l
vazorg [7]

The net short term capital loss for Elliott for 2021 will be $(2100); and the net long term capital gain will be $9,300.

<h3>What is capital gain?</h3>

The gain or positive returns made on the investment or engagement of money during a particular period is known as a capital gain. A short term capital gain is derived within 1 year; and long term is more than a year.

Hence, the capital gains and losses made by Elliott are aforementioned.

Learn more about capital gain here:

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4 0
2 years ago
When teaching new vocabulary, how many times should you encourage the student to repeat the word back to you?
hram777 [196]
Answer:  Repeat little and often. It's alarming how quickly students can forget vocabulary. Encouraging students to focus on new vocabulary daily is the best way to make it stick. It doesn't have to involve sitting down for hours; little and often will help get vocabulary into students long term memory.
3 0
3 years ago
The goal to identify whether some tasks are consistently performed poorly and/or whether there are deficient ksaos across the wo
Serjik [45]

The goal in order to identify if the task are performed in a poor or good manner and if there are any deficient KSAO’s in the workforce is known as the task analysis. This is a process about having to use observation as a way of having to understand tasks or details that are being performed and if the goal has been reach.

3 0
3 years ago
The All-Star Basic Value Fund's portfolio is valued at $250 million. The fund has liabilities of $23 million, and the fund’s net
svetoff [14.1K]

$13.27 is the fund's number of shares outstanding

Solution:

Given,

The All-Star Basic Value Fund's portfolio is valued at $250 million

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Net asset value = 17,100,000

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NAV = ($250 million - $23 million)/17.1 million = $13.27

$13.27 is the fund's number of shares outstanding

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3 years ago
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