The statement of cash flows shows the following information:

Jubilee's Bakery is budgeting cash for 2017. The cash balance at December 31, 2016, was $6,000. Jubilee's Bakery budgets 2017 ca

marusya05 [52]

Answer: B. There is $19,000 available for additional investments.

Explanation:

Cash Receipts both Estimated and available

= Beginning balance + budget receipts

= 6,000 + 81,000

= $87,000

Cash payments

= 44,000 + 34,000 + 15,000

= $93,000

Additional financing required = Cash receipts - Cash payment - minimum cash balance

= 87,000 - 93,000 - 13,000

= -$19,000

4 0

3 years ago

Major Co. reported 2016 income of $303,000 from continuing operations before income taxes and a before-tax loss on discontinued

Mama L [17]

Answer: $109,080; $145,920

Explanation:

Based on the information that have been provided in the question, the following can be gotten:

The amount for income tax expenses will be:

= 36% of $303,000

= 36/100 × $303,000

= 0.36 × $303,000

= $109,080

The net income will be:

Reported income = $303,000

Less income tax = $109,080

Less loss on discounted operation = $48,000

Net income = $145,920

Loss on discounted operation:

= $75,000 × (1 - 36%)

= $75,000 × (1 - 0.36)

= $75,000 × 0.64

= $48,000

3 0

3 years ago

ABC Company on Jan 1, 2021 purchased a delivery van for $24,000. To complete the purchase, the company also incurred a $800 ship

Whitepunk [10]

Answer:

the yearly depreciation expense is $5,500

Explanation:

The computation of the yearly depreciation expense using the straight line method is as follows;

= (Purchase cost - salvage value) ÷ (estimated useful life)

= ($24,000 + $800 + $1,200 - $4,000) ÷ (4 years)

= ($26,000 - $4,000) ÷ (4 years)

= $22,000 ÷ 4 years

= $5,500

hence, the yearly depreciation expense is $5,500

7 0

2 years ago

Retail Division $155,800 $550,000 Commercial Division 134,000 330,000 Internet Division 146,400 540,000 Assume that management h

Karolina [17]

The Residual Income for each division:

Retail Division = $4,95,000

Commercial Division = $2,97,000

Internet Division = $4,86,000

Retail Division Commercial Division Internet Division

A. Operating Income $155,800 $134,000 $146,400

B. Minimum acceptable operating income as a % of invested assets:

Retail Division Commercial Division Internet Division

Invested assets $550,000 $330,000 $540,000

(Invested assets x 10%) = $55,000 $33,000 $54,000

C = A - B Residual Income =$4,95,000 $2,97,000 $4,86,000

<h3>What is Residual Income?</h3>

Residual Income refers to a calculation that provides the amount of money leftover that a company or individual has after all expenses have been paid. The amount of money that is left over after all expenses are covered is typically referred to as residual income, profit, net income, or earnings.

One specific type of meaning for residual income is similar to the terms passive income or residual pay—in that it can represent income earned on a continual basis, not tied to specific amounts of time, and not requiring active work to generate.

Learn more about Residual Income on:

brainly.com/question/22985922

#SPJ4

7 0

2 years ago

The current exchange rate between the U.S. dollar and the Japanese yen is 120120 (yen/$). That is, 1 dollar can buy 120120 yen

Drupady [299]

Answer:

$ 8.33

Explanation:

Rate of dollars to yen

120 yen is to 1 dollars

1000 yen will be to 1000 yen × 1 dollars / 120 = $ 8.33

7 0

3 years ago