1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
givi [52]
3 years ago
11

Chino Company reported net income of $23,000 for the current year. During the year, Inventory decreased by $7,500, Accounts Paya

ble decreased by $8,250, Depreciation Expense was $10,500, and Accounts Receivable increased by $7,000. If the indirect method is used, what is the net cash provided by operating activities?
A). $25,750.
B). $56,250.
C). $42,250.
D). $11,000.
Business
2 answers:
ikadub [295]3 years ago
7 0

Answer: A). $25,750.

Explanation:

Cash from operating activities refers to cash from the business operations of the company.

Formula is:

= Net Income + Depreciation + Decrease in inventory - Accounts payable decrease - Accounts receivable increase

= 23,000 + 10,500 + 7,500 - 8,250 - 7,000

= $25,750

Brut [27]3 years ago
6 0

Explanation:

A). $25,750.

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

You might be interested in
What is unlikely to ask a real estate agent when interviewing
Shalnov [3]

Answered:who do you work for

Explanation:

5 0
3 years ago
Dallas Boot Corporation has been asked to submit a bid on supplying 1,000 pairs of military combat boots to the Armed Forces Tra
Kipish [7]

Answer:

Dallas Boot Corporation

Assuming that there would be no commission on this potential sale, the lowest price the firm can bid is some price greater than:_________

= $20.

Explanation:

a) Data and Calculations:

Pairs of military combat boots on the bid = 1,000

Direct material                                     $8

Direct labor                                            6

Variable overhead                                3

Variable selling cost (commission)      3

Fixed overhead (allocated)                  2

Fixed selling and administrative cost  1

Total cost of production and sales $23

Less commission                                 3

Total cost per boot                         $20

b) The bidding price less sales commission will be a price that is greater than $20 per boot.  The extra amount per boot will cover the profit expected from the transaction.

7 0
3 years ago
Condensed financial data are presented below for the Phoenix Corporation:
Solnce55 [7]

Answer:

Part 1.

3.1 times

Part 2.

a. total assets

Part 3

d. the company's ability to generate sufficient cash to repay debt when due.

Explanation:

<u>For Part 1</u>

Inventory turnover measures the activity of liquidity of a company`s inventory. The higher the ratio in comparison, the more efficient the inventory is managed.

<em>Inventory turnover = Cost of Sales ÷ Inventory</em>

therefore,

Inventory turnover = $982,500 ÷ $ 312,500 = 3.1 times

<u>For Part 2</u>

In a common-size Balance Sheet, each item is expressed as a percentage of total assets whereas in a common size Income Statement, Sales revenue is expressed as 100 % and every other item is expressed as a percentage of sales revenue.

<u>For Part 3</u>

Solvency or Liquidity is the ability of short term assets to cover short term liabilities. Also put, it is  the company's ability to generate sufficient cash to repay debt when due.

5 0
3 years ago
Karen and Al obtained a 30-year fixed-rate, fully amortized loan when they purchased their home. Which statement is true
murzikaleks [220]

Based on the information given regarding the mortgage, the true statement will be that each of their payments is for the same amount.

A fully amortized payment simply means a payment where the individual makes every payment according to the schedule of the loan.

A fully amortized payment is a periodic repayment of a debt. Since Karen and Al obtained a 30-year fixed-rate fully amortized loan when they purchased their home, they'll pay the same amount monthly.

Learn more about mortgage on:

brainly.com/question/1318711

5 0
2 years ago
The Chewbacca Starship Company had the following transactions during the month of December:
Naily [24]

Answer:

The Chewbacca Starship Company

T-accounts:

Cash

Date   Account Titles                 Debit        Credit

Dec. 1 Beginning balance      $73,500

Dec. 31 Salaries expense                        $57,000

Dec. 31 Accounts receivable 265,000

Dec. 31 Accounts payable                       210,000

Accounts receivable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance   $60,000

Dec. 31 Sales revenue         154,000

Dec. 31 Cash                                     $265,000

Accounts payable

Date   Account Titles           Debit        Credit

Dec. 1 Beginning balance                  $39,000

Dec. 31 Inventory                               230,000

Dec. 31 Cash                    $210,000

Inventory

Date     Account Titles           Debit        Credit

Dec. 31 Accounts payable   $230,000

Sales revenue

Date     Account Titles           Debit        Credit

Dec. 31 Accounts receivable              $154,000

Salaries Expense

Date     Account Titles           Debit        Credit

Dec. 31 Cash                       $57,000

Explanation:

a) Data and Analysis:

a. Inventory $230,000 Accounts payable $230,000

b. Salaries expense $57,000 Cash $57,000

c. Accounts receivable $154,000 Sales revenue $154,000

d. Cash $365,000 Accounts receivable $265,000

e. Accounts payable $210,000 Cash $210,000

Opening balances:

Cash $73,500

Accounts receivable $60,000

Accounts payable $39,000

3 0
2 years ago
Other questions:
  • Maria wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacat
    7·2 answers
  • ​a psychologist gives the same test to a client twice. the tests are separated by six days. if the test results are quite diss
    5·1 answer
  • What tendency is most likely manifest in the following situation? An engagement team performed a substantive analytical procedur
    15·1 answer
  • Why doesn't the theory of averages work for investing in the dow jones industrial average or the standard &amp; poor's 500-stock
    5·1 answer
  • Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000 total machine hours. Year to
    14·1 answer
  • Which one of the following statements is False? a. The depreciation tax shield is the cash tax savings the firm receives from it
    12·1 answer
  • Amanda keeps bees to produce honey. each hive produces $300 worth of honey each month. the table below shows amanda’s marginal c
    6·1 answer
  • Suppose you know a company's stock currently sells for $90 per share and the required return on the stock is 15 percent. You als
    8·1 answer
  • at is Dantzler's horizon, or continuing, value? (Hint: Find the value of all free cash flows beyond Year 3 discounted back to Ye
    7·1 answer
  • 13
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!