Answer:
b.$60,000 outflow.
Explanation:
Cash flows from financing activities
Retiring value of bonds for cash -$60,000
Cash flow from financing activities -$60,000
Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements
Answer:
c) AICPA accounting and auditing guide, Audits of Colleges and Universities and/or AICPA SOP 74-8, Financial Accounting and Financial Reporting by Colleges and Universities.
Explanation:
As accounting and auditing guide which is issued by AICPA for health care 3 gives full guidance on how to deal with financial reporting issues for the hospital so the accountant would look into it for any problem related to it.
Answer:
Please check the attached image for the diagram
Explanation:
I would be borrowing $4000 from the bank. I would be $4,000 richer and the bank would have $4000 less.
In one year, I would be paying the bank $4160. So I would have $4160 less and the bank would be $4160 richer.
A negative sign indicates cash outflow and a positive sign indicates a cash inflow.
I hope my answer helps you.
Answer:
Use the IRS Get My Payment tool to track stimulus money
For the third stimulus check: It's worth visiting the IRS' online portal designed to track the status of your 2021 payment. Generally, it should tell you when your check will be processed and how you'll receive it: for example, as a paper check in the mail.
Explanation:
Answer:
d. 108 days
Explanation:
Average Inventory = (Beginning balance + Ending balance) / 2
Average Inventory = ($139,000 + $158,000) / 2
Average Inventory = $297,000 / 2
Average Inventory = $148,500
Inventory Turnover ratio = Cost of goods sold / Average Inventory
Inventory Turnover ratio = $501,000 / $148,500
Inventory Turnover ratio = 3.37 times
Average days to sell inventory = Days in a year / Inventory Turnover ratio
Average days to sell inventory = 365 days / 3.37 times
Average days to sell inventory = 108.31 days