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worty [1.4K]
3 years ago
9

On the basis of this information, which of the following statements is CORRECT? a. Prestopino's cash on the balance sheet at the

end of the current year must be lower than the cash it had on the balance sheet at the previous year. b. Prestopino had negative net income in the current year. c. Prestopino had positive net income in the current year, but its income was less than its previous year's income. d. Prestopino's cash flow provided by operations in the current year must be higher than in the previous year. e. Prestopino's depreciation expense in the current year was less than $150,000.
Business
1 answer:
mylen [45]3 years ago
8 0

Answer:

b. Prestopino had negative net income in the current year

Explanation:

Retained earnings at the end of previous year were $700,000, but retained earnings at the end of current year had declined to $320,000.

• The company does not pay dividends.

• The company's depreciation expense is its only non-cash expense; it has no amortization charges.

• The company has no non-cash revenues.

• The company's net cash flow (NCF) for current year was $150,000.

On the basis of this information, which of the following statements is CORRECT? Prestopino had negative net income in the current year

Prestopino DECPRECIATION expense in the current year was less than $150,000 and Prestopino had postive net income in the currnet year however, this income was less than it was in the previous year income.

Prestopino NCF in the current year must be higher than its NCF in the previous year and it cash on the balance at the end of the year must be lower than the cash it had on the balance sheet at the end of previous year

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Mercedes-Benz has a self-driving car capable of 80 miles-per-hour speed. You have to keep your hands on the wheel in this E-clas
Ket [755]

Answer:

I would use survey research to determine the general opinion, positive or negative, on the feature from the general public.  

Explanation:

When conducting any survey research, it is important to sample a wide variety of people. In this case, you would want to survey the general population, not just former Mercedes customers.  

I would design a focus group survey with a series of questions where participants can choose from a range, 0-5, on how much they agree with a certain statement.

At the beginning of the survey, participants would read a brief paragraph explaining the features on the new car before continuing to the part where they record their responses.

Once the survey is conducted, the data can be analyzed. If the majority, say 70%, of all people surveyed agree strongly that a self driving car is a good idea and that the world is ready then you can assume that the general population is in fact ready.

7 0
3 years ago
The purchase of treasury stock usually restricts the amount of retained earnings available for cash dividends.a. Trueb. False
DerKrebs [107]

The statement, "The purchase of treasury stock usually restricts the amount of retained earnings available for cash dividends." is true .

Option a

<u>Explanation: </u>

The stock in the bank is the term for originally sold securities that the issuing firm has retained. If a corporation sells some of its released and outstanding securities, the sale drastically alters its retained profits.  

As the balance sheet show all remaining earnings and the equity fund, sums available to pay dividends drop. The price of the stock in treasury should be reduced by the retained revenues, which reduce the amounts that the business can dividend to shareholders.

Sometimes a business needs the share-earnings ratio to be improved. If a company bought out many of its own shares, it reduces the number of released and outstanding activities raises the earnings per stake in the company and makes the assets more appealing for buyers.

6 0
3 years ago
While working in a group, two of the members are not getting along. You bring the two members together so they can discuss this
Finger [1]

The statement " agree to share the research and work together on creating the presentation. " is the "Develop an agreement" step of conflict resolution.

This is further explained below.

<h3>What is conflict resolution?</h3>

Generally, The process of finding a mutually agreeable and peaceful conclusion to a problem involving two or more people is referred to as conflict resolution.

There might be a variety of reasons for the dispute, including personal, economical, political, or emotional factors.

When a disagreement emerges, the most effective strategy for resolving the conflict is often to engage in some kind of negotiation.

The tactics and procedures that are engaged in ensuring the peaceful termination of conflict and punishment are referred to collectively as "conflict resolution."

In conclusion, The steps of conflict resolution are

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Read more about conflict resolution

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4 0
1 year ago
Wages of $8,000 are earned by workers but not paid as of December 31. Depreciation on the company’s equipment for the year is $1
ArbitrLikvidat [17]

Answer:

a Wages expense 8, 000

Wages payable 8,000

b Dr Depreciation expense 10,840

Cr Accumulated depreciation-equipment 10,840

c Dr Supplies expense 4,397

Cr Supplies 4,367

d Dr Insurance expense 2,700

Cr Prepaid insurance 2,700

e. Dr Interest receivable 650

Cr Interest revenue 650

f. Dr Interest expense 3,000

Cr nterest payable 3,000

Explanation:

Preparation of Adjusting entry

a. Based on the information given we were told that Wages of the amount of $8,000 are earned by workers but was not paid which means that the Journal entry will be :

Dr Wages expense 8000

Cr Wages payable 8000

(To record wages payable)

b. Based on the information given we were told that Depreciation of the company’s equipment for the year was the amount of $10,480 which means that the Journal entry will be:.

Dr Depreciation expense 10,840

Cr Accumulated depreciation-equipment 10, 840

(To record Depreciation )

c. Based on the information given we were told that Office Supplies had the amount of $310 as debit balance in which During the year the amount of $4,597 of office supplies was purchased and a physical count of supplies shows the amount of $510 of supplies available which means that the Journal entry will be :

Dr Supplies expense 4,397

(310+4,597-510)

Cr Supplies 4,367

(To record supplies expense)

d. Based on the information given we were told that the insurance policies shows that the amount of $2,700 of unexpired insurance remain at December which means that the Journal entry will be :

Dr Insurance expense 2,700

Cr Prepaid insurance 2,700

(To record insurance expense)

e. Based on the information given we were told that the company has earned but did not record the amount of $650 of interest revenue which means that the Journal entry will be :

Dr Interest receivable 650

Cr Interest revenue 650

(To record interest)

f. Based on the information given we were told that the company has interest expense of the amount of $3,000 which means that the Journal entry will be :

Dr Interest expense 3,000

Cr Interest payable 3,000

(To record interest expense)

4 0
3 years ago
Your firm has taken out a 521,000 loan with 8.6% APR (compounded monthly) for some commercial property. As is common in commerci
Anni [7]

Answer:

The monthly payment will be = $5161.08

The final payment will be: = $413,684.38

Explanation:

From the given information:

Given that:

the loan amount = $521000

The interest rate for the loan is = 8.6% compounded monthly

the loan is being amortized for 15 years

Thus, the firm will be paying the due amount after 15 years

We use the Excel software to find the monthly payment and the final payment.

a. Using the Excel Function  ( =PMT(8.6%/12,15*12,-521000) )

The monthly payment will be = $5161.08

b.Using the Excel Function (=CUMPRINC(8.6%/12,15*12,521000,60,180,1) )

The final payment will be: = $413,684.38

These can be seen in the images attached below.

3 0
3 years ago
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