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Kazeer [188]
4 years ago
3

The current sections of Martinez Corp.’s balance sheets at December 31, 2016 and 2017, are presented here. Martinez Corp.’s net

income for 2017 was $157,131. Depreciation expense was $27,729. 2017 2016 Current assets Cash $107,835 $ 101,673 Accounts receivable 82,160 91,403 Inventory 172,536 176,644 Prepaid expenses 27,729 22,594 Total current assets $390,260 $392,314 Current liabilities Accrued expenses payable $ 15,405 $ 5,135 Accounts payable 87,295 94,484 Total current liabilities $102,700 $ 99,619 Prepare the net cash provided (used) by operating activities section of the company’s statement of cash flows for the year ended December 31, 2017, using the indirect method
Business
1 answer:
RideAnS [48]4 years ago
6 0

Answer:

Net cash  is 226.967

Explanation:

The indirect method involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.

First, we must find if the account increase o decrease. We get this number by the difference between the amount of 2017 - amount of 2016

It depends on the account if it is added or subtracted to net income. Below you will find the added account with a plus (+) and the subtracted ones with a minus (-)

Notice the amounts of any decreases are in parentheses.

 Net income 157.131

Adjustment to reconcile the net income to cash  

+ Depreciation expense 27.729

+ Cash 6.162

+ decrease in accounts receivable 9.243

+ inventory decreased 4.108

+ Prepaid expenses decrease  5.135

+ Increase in expenses payable 10270

+  decreased Accounts payable 7.189

 

Net cash 226.967

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givi [52]

Answer:

See explanation section

Explanation:

1. Debit     Cash                   $17,000

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<em>Note: The academy receives cash by providing music services to the students.</em>

2. Debit     Prepaid Insurance          $4,200

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<em>Note: The academy paid cash in advance to purchase insurance policy.</em>

3. Debit    Musical Equipment           $20,000

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Credit             Notes payable                           $30,000

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8 0
3 years ago
The balanced scorecard:
Deffense [45]

Answer:

Letter c is correct.<u> Is forward looking, stressing nonfinancial measures that can lead to benefits in the future.</u>

Explanation:

The balanced scorecard is a methodology whose focus is to assist the strategic management of a business, integrating managers and employees to work focused on obtaining long-term objectives and goals according to the company's current projects and results.

This methodology consists of actions focused on the business vision, so that there is an improvement in the management of long-term objectives, making the vision concrete through the monitoring and control of indicators to verify if the business plans are being fulfilled.

8 0
4 years ago
John walked 15 miles on Monday and 13 miles on tueday. How many miles did he walk on Tuesday?
statuscvo [17]
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A data warehouse is one or more very large databases containing both detailed and summarized data for a number of years and from
navik [9.2K]

Answer:

True

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Data warehouse involves combining different data/ information which is heterogeneous from various sources in order to have a comprehensive/large data base, it usually involves analytical reporting as well as decision making. For instance customer information from the point of sales system of the firm can be found in the database.

It should be noted that data warehouse is one or more very large databases containing both detailed and summarized data for a number of years and from numerous sources used for analysis rather than transaction processing.

8 0
3 years ago
According to the definition of profit, if a profit-maximizing firm will always attempt to produce its desired level of output at
hoa [83]

Answer:

A. Do so regardless of what type of competition exists in a market.

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