Describe how the following pairs of terms are related to each. use two or three sentences for each pair of terms :

The income statement of Whitlock Company is presented here.

bazaltina [42]

Answer:

$1,146,800

Explanation:

Preparation for the operating activities section of the statement of cash flows for the year ended November 30, 2020

WHITLOCK COMPANY

Partial Statement of Cash FlowsFor the Year Ended November 30, 2020

Cash flows from operating activities

Net income $1,366,800

Adjustments to reconcile net income to net cash provided by operating activities..

Activities

Depreciation expense $70,000

Decrease in inventory $500,000

Decrease in accrued expenses payable ($100,000)

Increase in prepaid expenses ($150,000)

Increase in accounts receivable ($200,000)

Decrease in accounts payable($340,000)($220,000)

Net cash provided by operatingActivities $1,146,800

($1,366,800-$220,000)

Therefore the operating activities section of the statement of cash flows for the year ended November 30, 2020 is $1,146,800

3 0

3 years ago

If the goal is to cut the total amount of smoke in half in the neighborhood, what isthe cost-effective way to do this?

Darya [45]

Answer:

He should ask nieghbors to stop

Explanation:

Because asking nice is not a bad reason

4 0

3 years ago

PLEASE HELP!

lidiya [134]

Answer:

C. 3;4

Explanation:

A cover letter is sent together with the resume to a potential employer. It details the job an applicant is applying for and their qualification for the position. The cover letter allows the applicant to elaborate on their skills and experiences in relation to the position sought after.

The cover letter is a perfect way to create an excellent first impression on the employer. It should be about three to four paragraphs long.

5 0

3 years ago

Select the correct answer from each drop-down menu. What is the basis for the calculation of interest payable by various financi

arlik [135]

Answer:

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

Explanation:

Financial institutions is a company or a firm that deals with financial and monetary activities such as; loans, deposits, investments and currency exchange. Most financial transactions especially loans and savings usually have an interest rate that is set by the financial institution. The amount of interest can be paid by the borrower in a case where an individual takes a loan from the financial institution. Interest can also be paid by the financial institution in a case where the individual or group opens a savings account with the financial institution. In both cases, the interest rate is set by the financial institution. The amount of interest payable can be determined using the formula below;

A=PRT

where;

A=amount of interest payable

P=principle amount. The principal amount can either be the loan amount or the savings deposit amount

R=interest rate

T=number of years

The interest payable is calculated based on the principal, interest rate, number of years of the loan or of the deposit.

3 0

3 years ago

The grocery industry has an annual inventory turnover of about 13 times. Organic Grocers, Inc., had a cost of goods sold last y

s344n2d4d5 [400]

Answer:

What was Organic Grocers' inventory turnover

ORGANIC

11,58 INVENTORY TURNOVER

Explanation:

The Organic company compared with the industry works with more inventory than the market, which means that the company is less efficient than the Grocery Industry in Inventory management .

ORGANIC

11,58 INVENTORY TURNOVER

11.680,000 Cost Of Goods

1.008,880 Average Inventory

32 DAYS IN INVENTORY

To calculate the Inventory Turnover ratio it's necessary to calculate the average inventory of the year ($1,008,880) , take the Total Cost of Goods ($11,680,000) and divide it by the Average Inventory, the result it's the Inventory Turnover of the company, in this case 11,58

To find the days in inventory we have to divide 365 (days of the year) by the Inventory Turnover, 11,58 the result is 32 days.

To have a similar Inventory Turnover as the industry the company needs to low the average inventory to $898,524.

ORGANIC

13,00 INVENTORY TURNOVER

11.680,000 Cost Of Goods

898,524 Average Inventory

28 DAYS IN INVENTORY

8 0

3 years ago