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-BARSIC- [3]
3 years ago
8

Electronic Wonders reports net income of $96,500. The accounting records reveal Depreciation Expense of $50,200 as well as incre

ases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $38,500, $23,900, and $20,400, respectively. Prepare the operating activities section of Electronic Wonders' statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.)
Business
1 answer:
jonny [76]3 years ago
7 0

Answer:

$152,500

Explanation:

Preparation of the operating activities section of Electronic Wonders' statement of cash flows using the indirect method

Cash flows from operating activities:

Net Income $96500

Adjustments for noncash effects:

Depreciation expense $50,200

Changes in current assets and current liabilities:

increase in accounts payable $23,900

Increase in income tax payable $20,400

Less Increase in prepaid rent ($38,500)

Net cash flows from operating activities $152,500

Therefore the operating activities section of Electronic Wonders' statement of cash flows using the indirect method is $152,500

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Full-service advertising agency refers to
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An advertising agency that provides the most complete range of services including market research, media selection, copy development, artwork and production.

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Advertising can be described as the various strategies used to create an awareness of a product to the public. The main objective of advertising is to persuade potential customers to purchase the product.

Full service advertising offers a complete range of services which include carrying out an extensive market research on the product, a good media management, excellent design and packaging of the product.

Hiring the services of full advertising agencies creates room for a team of specialists to work together inorder to boost the sales of the product. It also provides enough time for the management of an organisation to figure out new ways to strategize their business.

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3 years ago
Congratulation! You just won $10 million in the lottery. But instead of squandering your newfound wealth on luxury goods and a l
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Distinguish among different types of financial institutions.

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3 years ago
Renee operates a proprietorship selling collectibles over the web, and last year she purchased a building for $24 million for he
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Answer:

$30.1

Explanation:

Adjusted basis refers to the net value of an asset after considering depreciation and capital investments. It is the net value of an asset.

Adjusted taxable income is the income after adjusting for depreciation and interest.

For a sole proprietorship, the income of the business is the same as owners' income.  

For Renee, adjusted taxable income will be,

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5 0
3 years ago
In order to purchase a new freezer in 4 years, the Steakhouse Restaurant has decided to deposit $1,700 in an account that earns
trapecia [35]

Answer:

$ 1844

Explanation:

A = P (1 + r / n) ^ nt ; where

A = Final Amount , P = Principal base, r = Interest rate , t = no. of time periods (usually years) , n = compounding in a time period (annually)

Given : P = 1700 , r = 2% , t = 4 , n =  12

A = 1700 [ 1 + 0.02 / 12 ] ^ (12 x 4)

1700 [ 1 + 0.0017 ] ^ (12 x 4)    

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1700 [1.0849]

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Are there any options?

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3 years ago
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