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3 years ago

Mark Paxson maintains that the statement of cash flows is an optional financial statement. Do you agree? Explain.

Business

1 answer:

AlekseyPX3 years ago

6 0

Answer:

I Disagree

Explanation:

The statement of cash flows is of extreme importance for a company and its stakeholders (especially investors). It shows how activities affecting the balance sheet and the financial statement also affect cash and cash equivalents, and while it is true that the balance sheet has an account under that name, it does not provide enough detail.

The statement of cash flows on the other hand details how much cash the company gets from financing, operating, and investing activities, and from this information, a potential investor can make crucial analysis when determining whether to invest or not.

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In 1972, computer scientist ________ recognized that digital devices would change the world as they evolved and became widely us

marishachu [46]

In 1972, computer scientist Gordon Bell recognized that digital devices would change the world as they evolved and became widely used.
Gordon Bell was an American electrical engineer and manager. He was responsible for the first mini- and timesharing computers and is famous for his development of DEC's highly-successful VAX architecture.

5 0

3 years ago

Person defines a person waiting for a heart transplant. This class is already written for you. SurvivabilityByAge defines the ra

VLD [36.1K]

Answer:

Explanation:

A heart transplant is a surgical procedure that replaces the person’s heart with a donor heart. A person may require a heart transplant for several reasons including congenital, arterial and muscle diseases or for unforeseen reasons such as accidents or viral infections.

The donor heart is matched to the recipient by blood type. More variables are also used to decide which recipient receives a heart if there are not enough hearts available for all recipients waiting for a transplant. The variables included in the decision may include the recipient state of health, cause of the heart condition and the urgency of the transplant.

The main goal of this project is for you to write a matching function that receives as a parameter the number of available hearts for transplant and will output all the recipients ranked in order of precedence.

8 0

4 years ago

What is the prime minister of united state of america

MrMuchimi

Answer:

Donald Trump

Explanation:

OKi

7 0

3 years ago

On January 1, 2018, Jacob Inc. purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truc

Norma-Jean [14]

Answer:

option (D) loss, $3,000

Explanation:

Given:

price of the truck = $48,000

estimated residual value = $8,000

Exchange price of the truck = $60,000

Trade allowance = $35,000

Since, straight line depreciation is given, thus,

Total depreciation = $\frac{\textup{48,000−8,000}}{\textup{8}}$

Total depreciation = $5,000 per year

Therefore,

the book value after two years

= Price of truck - total depreciation in two years

= $48,000 − ($5,000 × 2 years)

= $38,000

Now,

a trade allowance received ( i.e $35,000 ) is less than the book value

therefore a loss is recorded

The amount of loss = (Book value - trade allowance received)

The amount of loss = $38,000 - $35,000 = $3,000

Hence, correct answer is option (D) loss, $3,000

5 0

3 years ago

The following is the adjusted year-end trial balance at December 31, 2018, of Wilson Trucking Company. Account Title Debit Credi

mariarad [96]

Answer:

Income Statment:

Trucking fees earned 130,000

Depreciation expense—Trucks (23,500)

Salaries expense (61,000)

Office supplies expense (8,000)

Repairs expense—Trucks (12,000)

Net Income 25,500

Retained Earnings

Beginning 155,000

Net Income 25,500

Dividends (20,000)

Ending 160,500

Balance Sheet:

Cash 8,000 Accounts payable 12,000

Accounts receivable 17,500 Interest payable 4,000

Office supplies 3,000 Total current liabilities 16,000

Total Current Assets: 28,500 Long-term 53,000

Trucks (net) 136,000 Total liabilities 69,000

Land 85,000 Common Stock 20,000

Total non-current 221,000 Retained Earnings 160,500

Total Equity 180,500

Total Assets 249,500 Liabilities + Equity 249,500

Explanation:

For the income statement we list the revenue and then, we subtract all the expenses account.

Retained Earnings will be beginning + income - dividends. This value will go into the balance sheet.

For the balance sheet, we display assets into both categories:

current: who are going to be converted into cash within a year.

and non-current like the truck and the land which are going to be in the company's book for more than a year before converting into cash.

Liabilities and equity will be in the other side and their sum should match the total assets.

6 0

3 years ago