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olchik [2.2K]
3 years ago
8

During 2018, Hardy Merchandising Company purchased $19,000 of inventory on account. Hardy sold inventory on account that cost $1

4,300 for $21,400. Cash payments on accounts payable were $11,900. There was $19,000 cash collected from accounts receivable. Hardy also paid $3,900 cash for operating expenses. Assume that Hardy started the accounting period with $22,500 in both cash and common stock.
Required:

a. Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. What is the balance of accounts receivable at the end of 2018?
b. What is the balance of accounts payable at the end of 2016?
c. What are the amounts of gross margin and net income for 2016?
d. Determine the amount of net cash flow from operating activities. (Indicate cash outflows with minus sign.)

Business
1 answer:
choli [55]3 years ago
3 0

Answer:

a-

[Find solution in the attachment]

a- 2)

Balance of accounts receivable at the end of 2018 = $2,400

Solution b:

Balance of accounts payable at the end of 2018 = $7,100

Solution c:

Gross margin = Sales - COGS = $21,400 - $14,300 = $7,100

Net Income = Gross margin - Operating expenses = $7,100 - $3,900 = $3,200

Solution d:

Cash flow from operating activities = Cash received from customer - Cash paid for accounts payable - Cash paid for operating expenses = $19,000 - $11,900 - $3,900 = $3,200

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The computation shows that the amount that will be made will be $420.

<h3>How to compute the value?</h3>

From the information, it was stated that a particular plot of land can produce 700 kg of beef per hectare. beef sells for $4/kg.

It was then stated that if that land is converted to producing corn, which sells for $0.15/kg, approximately how much will the farmer make selling corn.

The amount made will be:

= 700 × 4 × 0.15

= 700 × 0.6

= $420

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3 0
1 year ago
In the case discussed, the Supreme Court held that the trademark for Coca-Cola was valid and banned another company from using a
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Answer:

The Supreme Court ruled that the name Coke was so well known around the world, that it is effectively a common term for the trademarked Coca Cola. If other companies try to use similar terms like Koke for other types of products, e.g. bakery items, there is a risk that the Coca Cola company would be negatively affected by that product's image since consumers might associate Koke directly to Coca Cola.

It doesn't matter if the products were low quality or not, the courts cannot determine that, what matters is that the use of the term may negatively impact another company.

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Help please!
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Answer: Gemma took a <em>values inventory </em>in her career explorations class. This indicated to Gemma that money and status may mean a lot to her, but she also finds it healthy to maintain a work-life balance. The correct answer is B.

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A values inventory is commonly given in school to help a student with their career goals. They are usually given a personality inventory, an aptitude assessment, and an interest inventory.

The values inventory worksheet has two separate sets of questions about life values and work values. On this worksheet, the student must choose from the columns of "must have, would like, and least important."

A few of the life values a student has to choose from are listed below.

1.) Being Healthy as can be.

2.) Having a happy family life

3.) Having a high status and prestige

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A few of the work values a student has to choose from are listed below.

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Heather's interest and gains on investments for the current year are as follows:
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Answer:

c. $1,400

Explanation:

Gross income

= Interest on U.S. government bonds + Interest on a Federal income tax refund  + Gain on the sale of Madison County school bonds  

= $700 + $200 + $500

= $1,400

Therefore, Heather must report gross income in the amount of $1,400.

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3 years ago
Last month a company had net sales revenues of $10,000; Cost of goods sold of $4,000; other operating expenses of $3,000; non-op
Pie

Answer:

The correct answer is B. 6.000

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