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WINSTONCH [101]
3 years ago
8

Matrix Corporation's balance sheet and income statement appear below: Comparative Balance Sheet Ending Balance Beginning Balance

Assets: Cash and cash equivalents $ 23 $ 22 Accounts receivable 39 40 Inventory 43 44 Property, plant, and equipment 587 500 Less accumulated depreciation 359 347 Total assets $ 333 $ 259 Liabilities and stockholders' equity: Accounts payable $ 30 $ 26 Accrued liabilities 15 18 Income taxes payable 39 40 Bonds payable 109 120 Common stock 51 50 Retained earnings 89 5 Total liabilities and stockholders' equity $ 333 $ 259 Income Statement Sales $ 972 Cost of goods sold 620 Gross margin 352 Selling and administrative expense 200 Net operating income 152 Gain on sale of equipment 14 Income before taxes 166 Income taxes 50 Net income $ 116 The company sold equipment for $20 that was originally purchased for $7 and that had accumulated depreciation of $1. It paid a cash dividend during the year and did not issue any bonds payable or repurchase any of its own common stock. Required: Determine the net cash provided by (used in) operating activities for the year using the indirect method.
Business
1 answer:
Bad White [126]3 years ago
5 0

Answer:

Check the explanation

Explanation:

Cash flow from operating activities:  

Net income                                                                     $116

Adjustment to reconcile net income to cash basis:  

Depreciation expense ($359+1-347)                              $13

Gain on sale of equipment                                              (14)

Decrease in account receivable (40-39)                         $1

Decrease in inventory (44-43)                                          $1

Increase in account payable (30-26)                               $4

Decrease in accrued liabilities (18-15)                              (3)

Decrease in income tax payable (40-39)                         (1)

Net cash flow from operating activities                           $117

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Josh earns $8.25 per hour and works 28 hours per week how much money will Josh earn a year show your work will mark brainiest
Sunny_sXe [5.5K]
So it’s 8.25 times 28 =231 hours
And there are 356 days in a year so 356 times 231 =82236 and that’s the answer hope I helped and get brainiest answer!
4 0
3 years ago
If fixed costs are $821,000 and variable costs are 63% of sales, what is the break-even point in sales dollars
Nezavi [6.7K]

Answer:

Break-even point (dollars)= $2,218,919

Explanation:

Giving the following information:

Fixed costs= $821,000

Variable costs rate= 63%

<u>If the variable cost rate is 63%, then the contribution margin rate is:</u>

Contribution margin ratio= 1 - 0.63

Contribution margin ratio= 0.37

<u>Now, the break-even point in sales revenue:</u>

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)=  821,000 / 0.37

Break-even point (dollars)= $2,218,919

5 0
3 years ago
Italy and India are countries that trade with each other. If Italy has a comparative advantage in cell phones and India has a co
nydimaria [60]

Answer: Option B

Explanation: It would be better for both the countries to trade with each other. India will save its opportunity cost of producing cell phones and Italy will save it on production of hats. Also the employment will increase in both countries in the relative sector in which they have competitive advantage over the other.

Thus, from the above we can conclude that the correct option is B.

4 0
3 years ago
Assume Bank XYZ has 3 assets and 4 liabilities, with the following information: Assets Liabilities yield dollar value cost dolla
goldfiish [28.3K]

Answer:

The answer is "$500".

Explanation:

Calculating the total Interest Income:

= \$( 5\% \times 1000+10\% \times 4000+20\% \times  2000)\\\\= \$( \frac{5}{100} \times 1000+ \frac{10}{100} \times 4000+ \frac{20}{100} \times  2000)\\\\=\$ (50+400+400) \\\\ =\$ 850

Profits of non-interest=$1000

Earnings and losses for shares = $40

For point 1:

The formula for Total Revenue: = \text{Total Interest Income}+ \text{Non Interest Income} + \text{Realized Securities gains and losses} \\

= \$(850+1000+40) \\\\ = \$ 1890

For point 2:

The formula for total Expenditure: \text{(Interest Expense+Non interest expense+Provision for losses+Taxes)}

\text{Interest expense}= \$( 2 \% \times 1000+4\% \times 1000+6\% \times 1000)

                          = \$(  \frac{2}{100}  \times 1000+ \frac{4}{100}  \times 1000+ \frac{6}{100}  \times 1000) \\\\= \$ (20+40+60)\\\\ =\$ 120

Expenditure for non-interest=$1200

Loan and damage provisions = $50

Tax = $20

Complete Expenditures= \$(120+1200+50+20) = \$ 1390

Therefore,\text{net sales = (Total Revenue-Total Expenditure)}

                               =\$(1890-1390) \\\\ = \$ 500  

5 0
3 years ago
Occurs when a firm refuses to meet specific obligations or fails to change when new situations arise.
Tems11 [23]
The answer is B. passive opportunism 
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4 0
3 years ago
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