Answer:
The correct answer is letter "A": is reported in the Other Revenues and Gains section of the income statement.
Explanation:
The Other Revenues and Gains section of the Income Statement all those income a firm earned given a period as a result of transactions that do not belong to the company's business. They are also called non-operating revenue. A typical example of a non-operating revenue is the interest earned for selling on credit.
Therefore, <em>the proceeds from a common stock investment sold at a gain will be recorded in the Other Revenues and Gains section of the Income Statement.</em>
It is referred to as exclusive representation
Let x = amount invested in 6% account
300 + x = amount invested in 8% account
6%x + 8%(300 + x) = 94
0.06x +0.08(300 + x) = 94
0.06x + 24 + 0.08x = 94
0.14x + 24 = 94
0.14x = 94 – 24
0.14x = 70
x = 70/0.14
x = 500
Amount invested in 6% account = $500
<span>Amount invested in 8% account = $300 + x
= $300 + $500 = $800</span>
Answer:
The answer is -$1,072
Explanation:
The company's cash flow to creditors is the total amount of money paid to the creditors. It is a cash outflow because money goes out of the company to pay the creditors.
Company's cash flow to creditors = Interest paid - (ending long-term debt - beginning long-term debt)
$4,327 - ($44,875 - $39,476)
$4,327 - $5,399
= -$1,072
Note: The answer is in negative.