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ira [324]
2 years ago
14

Analysis reveals that a company had a net increase in cash of $22.420 for the current year. Net cash provided by operating activ

ities was $20,200, net
cash used in investing activities was $11,100 and net cash provided by financing activities was $13,320. If the year-end cash balance is $27,300, the
beginning cash balance was:
Business
1 answer:
antoniya [11.8K]2 years ago
8 0

Answer: 4,840

Explanation: Analysis reveals that a company had a net increase in cash of $22,310 for the current year.

Therefore,

The year-end cash balance -  the beginning cash balance = $22,310

The beginning cash balance = The year-end cash balance - $22,310

The year-end cash balance is $27,150

The beginning cash balance =  $27,150 - $22,310 = $4,840

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At your first meeting with Alex, you ask to see his most recent financial statements so that you can get an overall assessment o
Anon25 [30]

Answer:

The two main financial statements are the income statement and the balance sheet.

In the income statement all the revenue and the expenses should be accounted for, resulting in net profits or net losses. The income statement shows how the restaurant has been performing over a given period (usually a year).

The balance sheet is like a photo of the restaurant itself at a specific point in time. The balance sheet shows what assets the restaurant has, how much money it owes and what percentage of the business really belongs to the owners.

The other two financial statements are the statement of owner's equity and the statement of cash flows, but they are more complicated to explain and not that basic for a small business.

8 0
2 years ago
You have just won the lottery and will receive $460,000 in one year. You will receive payments for 27 years, and the payments wi
Zepler [3.9K]

Answer:

The present Value of my winnings = $4,578,716.35

Explanation:

An annuity is a series od annual cash outflows or inflows which payable or receivable for a certain number of periods. If the annual cash flow is expected  to increase by a certain percentage yearly, it is called a growing annuity.

To work out the the present value of a growing annuity,

we the formula:

PV = A/(r-g) ×  (1-  (1+g/1+r)^n)

I will break out the formula into two parts to make the workings very clear to follow. So applying this formula, we can work out the present value of the growing annuity (winnings) as follows.

A/(r-g)

= 460,000/(12%-3%)

= $5,111,111.11

(1-  (1+g/1+r)^n

1 - (1+3%)/(1+12%)^(27)

=0.8958

PV = A/(r-g) ×  (1-  (1+g/1+r)^n)

$5,111,111.11 × $0.8958

= $4,578,716.35

The present Value of my winnings = $4,578,716.35

5 0
3 years ago
Accounting Equation Shannon Cook is the stockholder and operator of Personality Shine LLC, a motivational consulting business. A
Neporo4naja [7]

Answer:

a. Stockholders' equity as of December 31, 2017: $635,000

b. Stockholders' equity as of December 31, 2018: $524,000

Explanation:

Please find the below for detailed explanation and calculations:

We have the Accounting Equation as: Total Asset = Total Liabilities + Total Equity <=> Total Equity = Total Asset - Total Liabilities

Applying the Accounting Equation to find the Stockholder's Equity at the two point of time require, we have the calculation as below:

* December 31, 2017:

Total Asset = $836,000; Total Liabilities = $201,000

<u>=> Total Stockholder's Equity = $836,000 - $201,000 =$635,000</u>

*December 2018:

Total Asset = $836,000 - $159,000 = $677,000; Total Liabilities = $201,000 - $48,000 = $153,000

<u>=> Total Stockholder's equity = $677,000 - $153,000 = $524,000 </u>

3 0
2 years ago
The cost principle relates most closely to the ______.
xeze [42]
The recognition point 
4 0
3 years ago
All of the following describe a balance sheet except which one? A. The balance sheet reflects the results of multiple transactio
Bezzdna [24]
The choice that does not describe the balance sheet is D. The balance sheet contains only assets and liabilities sections.

Balance sheet is one of a company's financial statement. It is also known as the statement of financial position. It represents the the company's financial position at the end of a specified date.

The assets, liabilities, and owner's equity sections of the balance sheet reflects the results of multiple transactions creating an image of a business in financial terms.


6 0
3 years ago
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