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Aleks04 [339]
3 years ago
12

Performed services for $25,000 cash. Purchased land for $6,000 cash. Hired an accountant to keep the books. Received $50,000 cas

h from the issue of common stock. Borrowed $5,000 cash from State Bank. Paid $14,000 cash for salary expense. Sold land for $9,000 cash. Paid $10,000 cash on the loan from State Bank. Paid $2,800 cash for utilities expense. Paid a cash dividend of $5,000 to the stockholders.
Business
1 answer:
Maurinko [17]3 years ago
8 0

Answer:

a.

1. Operating Activities (OA)

2. Investing Activities (IA)

3. Not Applicable (NA)

4. Financing Activities (FA)

5. Financing Activities (FA)

6. Operating Activities (OA)

7.Investing Activities (IA)

8. Financing Activities (FA)

9. Operating Activities (OA)

10. Financing Activities (FA)

b. Ending Cash Balance $60,200

Explanation:

a. To Indicate how each of the events would be classified on the statement of cash flows as OPERATING ACTIVITIES (OA), INVESTING ACTIVITIES (IA), FINANCING ACTIVITIES (FA), or NOT APPLICABLE (NA).

1. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

2. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)

3.Based on the information it these transaction will be classified as NOT APPLICABLE (NA)

4. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

5. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

6. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

7. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)

8. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

9. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)

10. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)

b. Preparation of a statement of cash flows for 2018. Assume All-Star Automotive Company had a beginning cash balance of $9,000 on January 1, 2018.

STATEMENT OF CASH FLOWS

CASH FLOWS FROM OPERATING ACTIVITIES:

Cash receipts from revenue: $25,000

Less Cash payment for salary expense ($14,000)

Less Cash payments for utilities expense ($2,800)

Net cash flow from operating activities $8,200

CASH FLOWS FROM INVESTING ACTIVITIES:

Cash from the sale of land $9,000

Less Cash paid to purchase land ($6,000)

Net cash flow from investing activities $3,000

CASH FLOWS FROM FINANCING ACTIVITIES:

Cash receipts from stock issue $50,000

Add Cash receipts from loan $5,000

Less Cash payment on loan ($10,000)

Less Cash payments for dividends ($5,000)

Net cash flow from financing activities $40,000

Net increase in cash $51,200

($4,200+$3,000+$40,000)

Add Beginning cash balance $9,000

ENDING CASH BALANCE $60,200

Therefore the statement of cash flows for 2018 Ending Cash Balance is $60,200

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Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's abil
Lostsunrise [7]

Answer:

A

Explanation:

The marketing environment simply refers to the actors and forces outside marketing that affects the marketing management’s ability to build and maintain successful relationships with customers.

It is the term that is basically used when we consider external outputs that can affect the way in which relationships are built with the customers of the company.

It is a term that takes into cognizance the fact that there are some external influences that dictates and affects the relationship building mechanism of the company and its customers

5 0
3 years ago
You just paid $574,000 for an annuity that will pay you and your heirs $14,000 a year forever. what rate of return are you earni
ivann1987 [24]

Simply paying $574,000 for an annuity is a good way to pay you and your heirs $14,000 a yr for all time. what fee of return are you earning on this coverage 2.44%

The components of an annuity are:

total quantity = cash glide every yr fee of return

574, 000 = 14,000 charge of go back

rate of go back = frac{14,000}{574,000}

charge of go back=zero.0244

The fee of going back that you will be earning in this coverage is two. forty four%

An annuity is protracted-term funding this is issued by a covered employer and is designed to help defend you from the hazard of outliving your profits. through annuitization, your buy payments (what you make a contribution) are transformed into periodic bills which can final for existence.

An annuity is a sequence of payments made at identical intervals. Examples of annuities are regular deposits to a financial savings account, month-to-month domestic loan payments, month-to-month insurance payments, and pension payments. Annuities can be categorized by using the frequency of fee dates.

Learn more about annuity here: brainly.com/question/25792915

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5 0
2 years ago
West Corp. leased a building and received the $36,000 annual rental payment on June 15, 2004.
Shtirlitz [24]

Answer:

$7,200

Explanation:

West should recognize 6 months of rent during 2004 = $36,000 x 6/12 = $18,000

So West will recognize the remaining $18,000 in rent during 2005, but it decided that the operation will be taxed completely during 2004.

Since the future taxable income will be less than the future pre-tax accounting income be $18,000, then they must report a deferred tax asset = $18,000 x 40% = $7,200

The current tax rate is lower than the future tax rate, but West has to record its tax asset based on the future tax rate, not the current one.

3 0
3 years ago
If california was a country where would it rank in economy
Llana [10]

Answer:

It would be the world's fifth-largest economy!

6 0
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"if rubash corporation bought on terms of 1/10, net 30, what would be its nominal annual cost of costly trade credit? assume a 3
pickupchik [31]
<span>Answer:
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