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3 years ago

Kolander Company has the following accounts and balances at the end of the year:

Business

1 answer:

Mrac [35]3 years ago

4 0

Answer:

The correct answer is $ 49,000. (which is not in options)

Explanation:

This problem requires us to calculate value of retain earning at the end of the year. We know that assets = equity + liabilities and equity = common stock + retain earning. Following this rule we can easily calculate amount of retain earning. Detail Calculation is given below.

Asset

Accounts Receivable $30,000

Land $42,000

Investments $7,000

Building $59,000

Cash and Equivalents $80,000

Equipment $64,500

Supplies $6,000

Total Asset $288,500

Less

Liability

Notes Payable $59,000

Interest Payable $5,500

Income Taxes Payable $10,000

Accounts Payable $38,000

Total Liabilities $112,500

Less

Equity

Common Stock $127,000

Retain earning $ 49,000

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A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:

zalisa [80]

Answer:

Adventure Travel Service

Statement of cash flows for the year ended April 30, 2019

Cash flow from Operating Activities

Cash receipts from customers $2,080,000

Cash payments for operating expenses ($1,706,000)

Net Cash from Operating Activities $374,000

Cash flow from Investing Activities

Purchase of land ($400,000)

Net Cash from Investing Activities ($400,000)

Cash flow from Financing Activities

Cash receipt from owner as investment $60,000

Drawings ($40,000)

Net Cash from Financing Activities $20,000

Movement in Cash and Cash Equivalents ($6,000)

Beginning Cash and Cash Equivalents $203,000

Ending Cash and Cash Equivalents $197,000

Explanation:

The Statement of Cash flows shows the results of cash from the following sources : Cashflow from Operating Activities, Cashflow from Investing Activities and Cashflow from Financing Activities.

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3 years ago

The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the followi

Elanso [62]

Answer:

the Cash Received from Customers is $548,400

Explanation:

The computation of the cash amount received by the customers is as follows:

Cash Received from Customers is

= Sales + Decrease in Accounts Receivables

= $516,400 + $32,000

= $548,400

hence, the Cash Received from Customers is $548,400

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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3 years ago

Charles Johnson has to make a deposit in his savings account. He has one $20 bill, two $5 dollar bills, seven $1 bills, six quar

ivolga24 [154]

Answer:

Total deposit is $39

Explanation:

Given

$\$20\ bills = 1$

$\$5\ bills = 2$

$\$1\ bills = 7$

$Quarters = 6$

$Dimes = 5$

Required

Determine the total

To do this, we simply multiply each dollar bill or coin with its frequency and add up the results.

i.e.

$Total = 1 * \$20 + 2 * \$5 + 7 * \$1 + 6 * Quarters + 5 * Dimes$

$Total = \$37 + 6 * Quarters + 5 * Dimes$

$1\ quarter = \$0.25$

$1\ dime = \$0.1$

So:

$Total = \$37 + 6 * \$0.25+ 5 * \$0.1$

$Total = \$37 + \$2$

$Total = \$39$

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3 years ago

"______, a key feature of a customer relationship management system, is the ability to aid customer service representatives so t

Kobotan [32]

Answer:

Customer support

Explanation:

Customer support offers various customer services to help customers in making cost effective and correct use of a product. Through customer support, customers requests and issues can be resolved through answering questions and providing help on onboarding, while collecting and storing data about those interactions

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3 years ago

How much money does an employee working for a salary of 50,000 per year get paid each month

zhenek [66]

Divide 50,000 by 12 to get 4,166.67

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3 years ago

Read 2 more answers

Kolander Company has the following accounts and balances at the end of the​ year:

Kolander Company has the following accounts and balances at the end of the year: