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Art [367]
2 years ago
12

Equipment with a book value of $80,000 and an original cost of $164,000 was sold at a loss of $34,000. Paid $103,000 cash for a

new truck. Sold land costing $330,000 for $410,000 cash, yielding a gain of $80,000. Long-term investments in stock were sold for $94,200 cash, yielding a gain of $15,500. Use the above information to determine this company's cash flows from investing activities. (Amounts to be deducted should be indicated with a minus sign.)
Business
1 answer:
jonny [76]2 years ago
8 0

Answer:

Cash flows from investing activities is $653,200.

Explanation:

XYZ Company

Statement of cash flows (extract)

Proceed from sale of equipment ($80,000 - $34,000)               $46,000

Purchase of vehicle                                                                       $103,000

Proceed from sale of land                                                            $410,000

Proceed from sale of long-term investments in stock                 $94,200

Cash flows from investing activities                                        $653,200

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goldfiish [28.3K]

To quickly move from one page to another in a publication, you can use the page down key on your keyboard.

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3 years ago
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Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company
Monica [59]

Answer:

$91

Explanation:

Given the following information,

Direct materials per unit = $54

Direct labor per unit = $20

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Fixed overhead for the year = $462,000

For Absorption costing method, it includes all costs associated with production, including fixed and variable cost. The unit product cost is calculated using direct material, direct labor and total unitary manufacturing overhead.

Unitary cost = (Fixed overhead for the year / Units produced) + Direct materials per unit + Direct labor per unit + Variable overhead per unit

Unitary cost = ($462,000 / 42,000) + $54 + $20 + $6

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2 years ago
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Mazyrski [523]

ANSWER:

Managerial accounting is the use of accounting information, to determine the best decision to take, inorder to better the organization, and bring in more profit.

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Financial accounting is reporting all financial transaction, by preparing a financial statement, which details out the inflow and outflow of money in the organization.

HOW TO USE ACCOUNTING INFORMATION:

1) Accounting Information are used by managerial accountants to determine the best business to invest more money into.

2) Accounting Information are used by financial accountant to report the profit or loss in the business of the company.

3) Accounting information are used by managerial accountant to decide which investment that should be added or removed from the portfolio, so that much profit will be achieved.

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Traceability of cost means that all cost should be able to show what lead to it, why the cost is necessary, and the effect of the cost to the business.

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Controllability of Cost defines cost to be subject to the decision of how the business will be achieved. This shows that cost can be altered at anytime, to suit the need of the business.

Relevance of Cost defines cost to be used to show how relevant or irrelevant a cost can be to the business, which helps a manger to consider only the relevant cost in the business first.

Function of cost shows the amount invested in relation to the amount produced. It is represented in a cost curve, and is used to optimize the business of the organization.

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In this context, we can infer and logically deduce that Mya is a manager who practices <u>intellectual stimulation</u> with her employees because she gave them full authority to solve the advertising problem and implement the solution.

Read more on intellectual stimulation here: brainly.com/question/14568042

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