I think the answer is c.capitalize on interest but i'm not quite sure
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Answer: C) eliminating the effects of income statement transactions that did not result in a corresponding increase or decrease in cash
Explanation:
The income statement comprises of entries that are not cash based in nature but help in the computation of taxes amongst other things such as depreciation and amortization.
When calculating net cash provided from operating activities therefore the income calculated should be adjusted for any expenses or revenue that are not cash based in nature and so will not result in a corresponding increase or decrease in cash.
For instance, adding back depreciation and amortization to the net cash balance as both do not actually reduce the cash balance of the company.
Answer: periodic inventory system
Explanation:
The type of inventory system used by Badger Enterprises is the periodic inventory system. The periodic inventory system is an inventory whereby updates are usually done on periodic basis.
In the periodic inventory system, physical count of inventory is done at specific intervals. This is the method used by the company in the question.
Answer:
$7,200,000
Explanation:
Given that,
Common stock = $5,400,000
Retained earnings = $2,000,000
Unrealized gains on trading securities = $100,000
Unrealized losses on available for sale securities = $200,000
Stockholder's equity:
= Common stock + Retained earnings - Unrealized losses on available for sale securities
= $5,400,000 + $2,000,000 - $200,000
= $7,200,000
Note that:
Unrealized gains on trading securities should be presented on the income statement. Hence, the ending retained earnings balance was already been adjusted with Unrealized gains (losses) on trading securities.
Unrealized losses on available for sale securities not included in the income statement and it directly goes to the balance sheet.
