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A machine with a cost of $148,000 and accumulated depreciation of $103,000 is sold for $59,000 cash. The amount that should be r

Lunna [17]

Answer:

c. $59,000

Explanation:

The cash flow statements shows the effect of the company's activities on cash. These activities are classed into operating, investing and financing activities.

When an asset is sold, the amount received from the sale is an inflow of cash to the company. This inflow is recognized in the investing segment of the cas flow statement.

Hence, the amount that should be reported as a source of cash under cash flows from investing activities is $59,000.

4 0

3 years ago

A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (20,000 units)

prohojiy [21]

Answer:

If 1,500 units remain unsold at the end of the month, the amount of inventory that would be reported on the variable costing balance sheet is $52,500

Explanation:

For computing how much amount is recorded in the balance sheet, first we have to calculate the per unit cost.

The formula to compute the per unit cost is shown below:

= Total production cost ÷ Number of units

where,

Total production cost = Direct labor + Direct material + Variable factory overhead

= 240,000 + $180,000 + 280,000

= $700,000

And, the number of unit is 20,000 units

Now, put these values on the above equation which is equals to

= $700,000 ÷ 20,000

= $35 per unit

After that, multiply the per unit cost with unsold units

In mathematically,

= 1,500 units × $35 per unit

= $52,500

Hence, If 1,500 units remain unsold at the end of the month, the amount of inventory that would be reported on the variable costing balance sheet is $52,500

5 0

3 years ago

Eleanora offers Flossy the amount of an investment in Flossy’s start-up business venture if she marries Eleanora’s son Glenn. Th

boyakko [2]

Answer:

this promise is enforceable only if it is agreed upon in writing

Explanation:

In the scenario described in the question it can be said that this promise is enforceable only if it is agreed upon in writing. This is because by putting it in writing all details of the contract are displayed for both parties to read/analyze and decide whether they actually want to agree to this agreement/contract or not. Once the contract is signed and agreed upon by both parties it can then be completely enforced because both parties knew exactly what they were getting into at the time of signing.

5 0

3 years ago

How do monopolistic competitors try to make their products stand out?

sergey [27]

Answer:

They use non-price competition such as advertising

Explanation:

Monopolistic competition portrays an industry where numerous organizations offer items or administrations that are comparable, however not immaculate substitutes. Hindrances to section and exit in a monopolistic focused sector are low, and the choices of anybody firm don't legitimately influence those of its rivals. Monopolistic competition is firmly identified with the business technique of brand separation.

Monopolistic competition is a type of rivalry that portrays various ventures that are well-known to purchasers in their everyday lives. Models incorporate eateries, hair salons, attire, and buyer hardware.

7 0

4 years ago

Wayman Corporation reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 411,000 Income tax

cestrela7 [59]

Answer:

Explanation:

In the income statement, the total revenues and the total expenses are recorded.

If the total revenues are more than the total expenditure then the company earns net income

And, If the total revenues are less than the total expenditure then the company have a net loss

This net income or net loss would reflect in the statement of the retained earning account.

The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:

8 0

3 years ago