Answer:
Nutrient cycling and purification of water are both examples of Essential Services
While taking out net cash flow (operating activity ) we will use -
= Net income + depreciation expenses or amortization expenses + working capital changes + loss on sale of assets - gain on sale of assets
In working capital changes - increase in current assets would be subtracted.
increase in current liability would be added
decrease in current asset would be added
decrease in current liability would be subtracted
As per question -
= $29,000 + $3000 + $2000 + $4000 + $8000
= $ 46,000
Answer:
The amount of the gain that the estimate change caused = $12 million
Explanation:
The explanation for this question is given in the attachment below.
Answer:
cost of sales has been overstated by $2,700 and;
net income has been understated by $2,700
Explanation:
The movements in the inventory balance between the start and end of a given period is usually due to purchases and sales. This may be represented mathematically as
opening balance + purchases - cost of goods sold = closing balance
The cost of goods sold is an element of the income statement that is usually subtracted from the sales to get the gross profit from which the operating expenses is deducted to get net profit.
Hence understating the ending merchandise inventory balance means that the cost of sales has been overstated by the same amount. This also means that net income has been understated.
Answer:
<em><u>The manufacturer of the toaster would argue from the point of view of the warranty offered for the toaster.</u></em> In most electronic products, the manufacturer offers warranty ranging from 1 year to 5 years.
<em>For the toaster to have worked for more than 20 years without any problem shows that it was a good product. And, the warranty must have expired hence the need not to be held responsible for whatever happened to it.</em>
Explanation:
