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belka [17]
3 years ago
14

Excerpts from Neuwirth Corporation's comparative balance sheet appear below: Ending Balance Beginning Balance Cash and cash equi

valents $ 37,000 $ 27,000 Accounts receivable $ 24,000 $ 28,000 Inventory $ 65,000 $ 68,000 Which of the following is the correct treatment within the operating activities section of the statement of cash flows using the indirect method?

Business
1 answer:
Artemon [7]3 years ago
3 0

Answer:

The change in Accounts Receivable is added to net income; The change in Inventory is added to net income.

Explanation:

Account receivable:

= Ending balance - Beginning balance

= 24,000 - 28,000

= -4,000

Decrease in account receivable

Inventory:

= Ending balance - Beginning balance

= 65,000 - 68,000

= -3,000

Decrease in inventory

Since the Current assets have decreased therefore they should be added to net income.

The change in Accounts Receivable is added to net income; The change in Inventory is added to net income.

Note: The options are missing from the question, so i have attached the options with the answer.

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Max and nora have modified agi of $75,000, and adopted a little boy from san antonio, texas, in the current year and incurred a
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Explanation:

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In the United States of America, adoption tax credit qualified expenses include court costs, traveling expenses, lawyer's or Attorney's fee and other expenses for legal adoption of an eligible child.

It can be calculated by subtracting

the max's employer provided for the couple with adoption benefits of $4,000 from the incurred expenses of a total of $13,000 in qualified adoption expenses(from the question).

That is; $13,000-$4,000.

= $9,000.

Hence, the maximum amount of adoption credit they can take this year is $9,000.

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2 years ago
The outdoor clothing company Patagonia, Inc. pledges one percent of the company's annual revenue to environmental causes around
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2 years ago
Define how managerial accounting differs from financial accounting. Be sure to address the diverse users of managerial and of fi
Mazyrski [523]

ANSWER:

Managerial accounting is the use of accounting information, to determine the best decision to take, inorder to better the organization, and bring in more profit.

While.

Financial accounting is reporting all financial transaction, by preparing a financial statement, which details out the inflow and outflow of money in the organization.

HOW TO USE ACCOUNTING INFORMATION:

1) Accounting Information are used by managerial accountants to determine the best business to invest more money into.

2) Accounting Information are used by financial accountant to report the profit or loss in the business of the company.

3) Accounting information are used by managerial accountant to decide which investment that should be added or removed from the portfolio, so that much profit will be achieved.

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Controllability of Cost defines cost to be subject to the decision of how the business will be achieved. This shows that cost can be altered at anytime, to suit the need of the business.

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