1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Elina [12.6K]
3 years ago
11

On the basis of the following data for Garrett Co. for Years 1 and 2 ended December 31, prepare a statement of cash flows using

the indirect method of reporting cash flows from operating activities. Assume that equipment costing $125,000 was purchased for cash and equipment costing $85,000 with accumulated depreciation of $65,000 was sold for $15,000; that the stock was issued for cash; and that the only entries in the retained earnings account were for net income of $56,000 and cash dividends declared of $18,000.
Business
1 answer:
Liono4ka [1.6K]3 years ago
4 0

Answer:

Garrett Co. cash flows from operating activities is $61,000.

Explanation:

Garrett Co.

Statement of cash flows (extract)

Net income                                                    $56,000

Add Loss on disposal of equipment                5,000

Cash flows from operating activities            $61,000

Loss on disposal of the equipment was calculated as Proceeds - net book value, that is $15,000 - $20,000.

Note that purchase of equipment belongs to investing part of the cash flows while proceed from stock issuance and dividend payment belong to financing part of the cash flows

You might be interested in
Which of the following is an organizational factor that increases illegitimate political behavior?
Akimi4 [234]

Answer:

B) high trust zero-sum reward practice

Explanation:

Zero sum reward practices are generally not that successful since usually only a few are benefited while several people are left out of the benefits, or lose. If someone gains a benefit at the expense of others, it will always cause friction within the organization. That friction can lead to illegitimate political behavior, which is behavior that breaks implied rules. The regular "losers" in zero sum reward practices may be tempted to break the rules or cheat in order to obtain the benefits.

For example, if the same person is always selected as the employee of the month, his/her "losing" coworkers may start to sabotage his/her work.

4 0
4 years ago
Younjin is a purchasing agent for Acme Enterprises. One of the products she is responsible for is the copier paper for the compa
11111nata11111 [884]

Answer:

Straight rebuy

Explanation:

When a purchasing agent performs a straight rebuy, he/she is in a situation where the same products or services are bought over and over again on a relatively steady basis.

The products and services purchased are also simple and common products or services, nothing very complex or specialized that requires looking for new information or investigating who the best vendor might be.

5 0
3 years ago
Every person I have ever met says their favorite pizza is pepperoni pizza. Therefore, I can assume that everyone I ever meet wil
oksano4ka [1.4K]

Answer:

Inductive reasoning

Explanation:

This type of reasoning is considering generalization that is formed and based on some previous experiences and with that previous experiences the observation that is made is forming an inductive reasoning.

In this case, the person met many of them who says that their favorite pizza is pepperoni and then every time that someone say that they love pizza, this person will think of pepperoni pizza because of the previous experiences that caused those observations.

4 0
4 years ago
Why do you think that decorum and business etiquette play as essential components of business ethics and social responsibility
Delicious77 [7]

Proper decorum and good business etiquettes are essential components of business ethics and social responsibility because they:

  1. Create a professional atmosphere
  2. Improve communication
  3. Make a workplace productive
  4. Enhance workers' respect and dignity
  5. Improve customer and suppliers relationships.

<h3>What are business ethics and social responsibility?</h3>

Business ethics deal with the appropriate business policies and practices that ensure the observance of ethical principles.  They ensure that moral or ethical problems do not arise in a business environment.

Social responsibility refers to the cooperation that should exist among individuals and organizations for the benefit of the community.

Thus, Proper decorum and good business etiquettes remain essential components of business ethics and social responsibility.

Learn more about business ethics and social responsibility at brainly.com/question/25704651

4 0
2 years ago
Rosalie’s sales numbers have declined. The Marketing Director, Product Development Lead, and Sales Manager proceed to engage in
kykrilka [37]

Answer: environmental scanning

                     

Explanation: In simple words, environmental scanning refers to the process in which an organisation tries to gather maximum information by an event  and interpret its relationship with the external and internal environment of the entity.

This process in usually done by the top management for estimating future that if there will be any opportunities  to grab or any threats to be concerned about.

Hence from the above we can conclude that the given case depicts environmental scanning.

7 0
3 years ago
Other questions:
  • Titanium Metals Company had 20,000,000 shares of $0.01 par value common stock outstanding which had been sold for an aggregate a
    7·1 answer
  • When conducting a financial analysis of a firm, financial analysts:?
    6·1 answer
  • Lyla faces the challenge of developing the promotion mix for a new business. Given the uniqueness of the new products and a very
    14·1 answer
  • Prepare journal entries for each transaction and identify the financial statement impact of each entry. The financial statements
    13·1 answer
  • In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate en
    14·1 answer
  • Malaki ran 9,656 meters on Monday and 4,687 meters on Tuesday. How many more meters did she run on Monday than on Tuesday?
    12·1 answer
  • Ruby Company produces a chair for which the standard specifies 5 yards of material per unit. The standard price of one yard of m
    15·1 answer
  • Martha had an important meeting after lunch and wanted to avoid the hassle of waiting in line to get a meal at the cafeteria. He
    5·1 answer
  • As a unit of measure, money makes it easier for consumers to do what? a. compare prices of different products. b. make a bigger
    15·1 answer
  • as a country develops economically from being very low income to higher income, what are the most important changes that occur i
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!