1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Scilla [17]
3 years ago
5

Marks Corporation's balance sheet appears below: Comparative Balance Sheet Ending Balance Beginning Balance Assets: Cash and cas

h equivalents $ 47 $ 37 Accounts receivable 53 57 Inventory 63 60 Property, plant, and equipment 548 440 Less accumulated depreciation 295 255 Total assets $ 416 $ 339 Liabilities and stockholders' equity: Accounts payable $ 52 $ 50 Bonds payable 260 250 Common stock 51 50 Retained earnings 53 (11 ) Total liabilities and stockholders' equity $ 416 $ 339 Net income for the year was $77. Cash dividends were $13. The company did not dispose of any property, plant, and equipment, retire any bonds payable, or repurchase any of its own common stock during the year. Required: Prepare a statement of cash flows in good form using the indirect method.
Business
1 answer:
Vinvika [58]3 years ago
3 0

Answer:

<u>statement of cash flows using the indirect method.</u>

Cash Flow from Operating Activities

Net income for the year was                                              $77

Adjustment of Non-Cash Items :

Depreciation                                                                        $40

Adjustment for Working Capital items:

Decrease in Accounts receivable                                       $4

Increase in Inventory                                                          ($3)

Increase in Accounts Payable                                             $2

Net Cash From Operating Activities                                $120

Cash Flow from Investing Activities

Purchases of Property, plant, and equipment              ($108)

Net Cash used in Investing Activities                            ($108)

Cash Flow from Financing Activities

Proceeds from Common Stock Issue                                 $1

Dividends Paid                                                                  ($13)

Net Cash used in Financing Activities                             ($12)

Net Cash Inflow/(Outflow) during the period                   $10

Cash and Cash Equivalents at Beginning of the Period $37

Cash and Cash Equivalents at End of the Period            $47

Explanation:

<u>Show the Movement of Cash in the 3 categories of </u>

  1. Cash flow from Operating Activities
  2. Cash flow from Investing Activities
  3. Cash flow from Financing Activities
You might be interested in
Most global firms find it is better to have expatriates rather than local staff at the management positions of their foreign ope
pshichka [43]

Answer:A True most global firms find it is better to have expatriates rather than local staff at management positions to their foreign operations because expatriates require less training and development.

8 0
3 years ago
How can an organization develop strategic​ flexibility?
Anastaziya [24]
Well, you become very very busy when you work, and that develops strategic flexibility. Once you get used to your organization, that’s a sign of strategic flexibility
7 0
3 years ago
What is the amount of Justin and Jenna's earned income tax credit reported in the payments section on page 2 of their tax return
MissTica
<span>The amount of Justin and Jenna's Earned Income Tax Credit which was reported in the payment section on page two of their return was $836. The Earned Income Credit, or EIC, is a tax credit that is refunded to low to moderate income earners who are working weather individual or couples. Generally, this is given to those who have children. The amount of the credit depends on the income and number of children.</span>
6 0
3 years ago
The table below shows the earnings, in thousands of dollars, for three different commissioned employees. $2,000 3% on all sales
Mashcka [7]

The earnings of the three employees are X=$2,135, Y=$392, Z=$260.

<h3>What is the commission?</h3>

The commission is basically the amount of service charge which is given by the employer to their employee in addition to his income.

Let, the three employees be X, Y, and Z.

Given that,

Employee X earns $2,000 with 3% on all sales.

Employee Y earns 7% on all sales.

Employee Z earns 5% on the first $40,000, and 8% for sales over $40,000.

The table is shown in the image below about the sales of December, January, and February.

<h3>Computation of earning:</h3>

Earning in December are as follows:

<u>Employee </u><u>X</u><u>: </u>

=\$2000+3\%(\$4,400)\\ = \$2,132.

<u>Employee </u><u>Y</u><u>:</u>

7\%(\$5,600) = \$392

<u>Employee </u><u>Z</u><u>:</u>

5\%(\$5,200) = \$260

Hence, employee A has the largest amount of earnings in the month of December.

Therefore, option A is correct, where A is the salary plus commission employee.

Learn more about commission, refer:

brainly.com/question/929522

<h3 />

7 0
2 years ago
Although countries such as China and India are currently relatively poor, their economies are already large in absolute terms an
dlinn [17]

Answer:

True

Explanation:

In nominal dollars, China is currently the second largest economy in the world and India is the fifth largest. They are both considered developing nations since the GDP per capita is still low compared to other countries, China's GDP per capita = $10,100 and India's GDP per capita =  $2,170. Even though their economies are large, their populations are even larger, both countries have around 1.3 billion people living in them.

If we use the purchasing power parity (PPP) their numbers are a little better, with Chinese economy being number one in the world with $27.31 trillion compared to the US's $21.44 trillion. The US is the only country whose PPP equals its nominal GDP since the American economy is used as the base economy for PPP calculations.

Both China's and India's economic growth rates are also higher than most developed nations, 5.8% for China and 7.5% for India.

6 0
3 years ago
Read 2 more answers
Other questions:
  • What experience would least demonstrate to an employer that you have the skills to be an assistant to a newspaper reporter?
    6·1 answer
  • A furniture company is producing two type of furniture. Product A requires 8 board feet of wood and 2 Ibs of wicker. Product B r
    9·1 answer
  • Which of the following is a drawback faced by multinational enterprises (MNEs)pursuing an international strategy?
    5·1 answer
  • Consider the economies of Gobbledigook and Hermes, both of which produce agricultural products using only land and labor. The fo
    6·1 answer
  • According to the Security Risk Management: Building an Information Security Risk Management Program From the Ground Up textbook,
    5·1 answer
  • Reinforay, an aircraft manufacturer, makes passenger, cargo, short-haul, and long-haul aircraft from the same design, with many
    5·1 answer
  • Edgar Co. acquired 60% of Stendall Co. on January 1, 2013. During 2013, Edgar made several sales of inventory to Stendall. The c
    15·1 answer
  • The purchase of new car is included in: investment expenditure consumption expenditure on services consumption expenditure on no
    11·1 answer
  • DeConinck Soup Co. found that its canned nacho cheese sauce was too spicy for Americans in the East and not spicy enough for tho
    7·2 answers
  • Financial managers should strive to maximize the current value per share of the existing stock to:_____.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!