All categories

2 years ago

The income statement of Martinez Company is shown below. MARTINEZ COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020

Business

1 answer:

Pani-rosa [81]2 years ago

5 0

Answer:

Cash flow from operating activities

Net income $310,000

Adjustment to reconcile net income to

net cash provided by operating activities

Depreciation expense $70,000

Decrease in account receivable $300,000

Decrease in inventory $620,000

Increase prepaid expense -$150,000

Decrease account payable -$280,000

Decrease accured expense payable -$110,000 $450,000

Net cash outflow from operating activities $760,000

You might be interested in

In 1626, Dutchman Peter Minuit purchased Manhattan Island from a local Native American tribe. Historians estimate that the price

nalin [4]

Answer:

$199,576,970,307.56

Explanation:

Given:

Price paid for the island = $24

Annual interest rate, r = 6%

Duration, n = 392 years

Now,

Future value is given as:

Future value = Present value × ( 1 + r )ⁿ

on substituting the respective values, we get

Future value = $24 × ( 1 + 0.06 )³⁹²

Future value = $24 × 8315707096.148

Future value = $199,576,970,307.56

6 0

3 years ago

The following cost behavior patterns describe anticipated manufacturing costs for 2019: raw material, $7.50/unit; direct labor,

kykrilka [37]

Answer:

Unit cost

Variable costing 18

Absorption costing 26.5

Explanation:

Variable costing values every unit produced at the marginal cost. Marginal cost is the sum of direct material, direct labor and variable overhead.

Marginal cost = 7.50 + 10.50 =$18

Absorption costing values every unit at full cost. Full cost is the sum of marginal and fixed overhead cost per unit,

Fixed overhead cost per unit = $297,500/35,000=8.5

Full cost = 7.50 + 10.50 + 8.50= $26.5

Unit cost

Variable costing 18

Absorption costing 26.5

3 0

3 years ago

I have $65,000 that I need to invest but I want to make more than the bank is offering. Where can I get a high return on a short

pickupchik [31]

Answer:

Several low-risk portfolios With the higher returns:

Municipal Bonds.
Credit Card Rewards.
Annuities.
Savings Bonds.
Cash Value Life Insurance.
Bank Bonuses.

Explanation:

Municipal Bonds: Municipal bonds are loans made to local authorities by the creditors. Cities, territories, districts, or other municipalities.
Credit card rewards: Point incentives are given based on each amount you invest-one point per dollar, for example. Usually, points can be exchanged for products in the online shopping store of the incentive scheme.
Annuities: Annuities are insurance contracts that pledge either instantly or in the future to pay you a steady income. You may purchase a lump sum annuity or a sequence of installments.
Saving bonds: Savings Bonds are US circulated treasury tools. Treasury Department to help pay for the spending requirements of the U.S. government. They are priced at face value.
Cash-value life insurance: Cash value protection is long term life insurance since it provides cover for the existence of the policyholder. Cash value insurance historically has lower premiums than term life insurance because of the cash value factor.
Bank Bonuses: Bank rewards are monetary incentives anytime you opening a new deposit or checking account. You would have to set up paper checks with the bank to hold the profile up for at least a couple of years to apply for this one-time bonus.

8 0

3 years ago

What is gross pay?

ZanzabumX [31]

The answer is salary before taxes

7 0

3 years ago

Blossom Company purchased a machine with a list price of $168000. They were given a 10% discount by the manufacturer. They paid

mixer [17]

Answer:

$11,870

Explanation:

Given:

List price = $168,000

Discount = 10%

Shipping cost = $1,000

Sales tax = $6,500

Salvage value = $40,000

Useful life = 10 years

Now,

Purchasing price = List price - Discount

Purchasing price = $168,000 - [10% × $168,000]

Purchasing price = $168,000 - $16,800

Purchasing price = $151,200

Costs that are directly related to the purchase of asset are capitalized.

Thus,

Cost = Purchasing price + Shipping costs + Sales tax

Cost = $151,200 + $1,000 + $6,500

Cost = $158,700

Now,

Annual straight line depreciation = $\frac{Cost-Residual Value}{Useful life}$

Annual straight line depreciation = $\frac{158,700 - 40,000}{10}$

Annual straight line depreciation = $\frac{118,700}{10}$

Annual straight line depreciation = $11,870

8 0

3 years ago