Option (B) The net cash provided by investing activities is $99000 is correct.
<h3>What is net cash?</h3>
- On a company's financial statements, net cash is a sum that is given.
- It is determined by deducting a company's total cash from its total liabilities.
- When assessing the cash flows of a corporation, the net cash figure is frequently utilized.
<h3>What is cash flow?</h3>
- The net balance of money coming into and going out of a business at a particular period is referred to as cash flow.
- A firm constantly receives and expends cash.
- For instance, when a retailer buys merchandise, money leaves the company and goes to its suppliers.
<h3>Calculation of Net cash provided by investing activities:</h3>
Net cash provided by investing activities = land ($154000 cash inflow) - equipment purchase ($55000 cash outflow) = $99000
Hence, The net cash provided by investing activities is $99000.
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Answer:
(C) perfectly inelastic.
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Demand is perfectly inelastic if a change in price has no effect on quantity demanded. Quantity demanded remains unchanged no matter the change in price.
Water is assumed to be a necessity so demand would not change no matter the change in price.
Demand is inelastic when a change in price has little or no effect on quantity demanded.
Demand is elastic when a change in price has a greater effect on the quantity demanded.
Demand is unitary elastic when a change in price has an equal erfect on quantity demanded.
I hope my answer helps you
Answer:
C) Should be reported at $210,000
Explanation:
The computation of the gross profit in case of the multi-step income statement is presented below:
Mortenson Company
Multi step income statement
Sales $600,000
Less: Cost of goods sold -$390,000
Gross profit $210,000
After deducting the cost of goods sold from the sales we can get the gross profit
Answer:
Correct Answer:
b. There is no time limit on when the policy may be reinstated.
Explanation:
In life insurance, which is an insurance against event in the life of the individual in question, it is expected that, the person will be paying his premium fee regularly.
<em>In a situation, there was a lapses, in-order to reinstate the life insurance policy, it must be reinstated within 1 year in-order to be valid.</em>
Answer:
a. $14,200
Explanation:
The computation of the bad debt expense is shown below:
Balance in Allowance for doubtful Accounts = Opening Balance in Allowance for Doubtful Account - Accounts Wrote Off + Bad debts recovered
= $20,000 - $11,400 + $4,200
= $9,800
And, Closing Balance is
= $480,000 × 5%
= $24,000
So, the bad debt expense is
= $24,000 - $9,800
= $14,200
We simply applied the above calculations
