Which will you likely have to provide on college applications?

Nevada Boot Co. reported net income of $217,400 for its year ended December 31, 2018. Purchases totaled $152,800. Accounts payab

leonid [27]

Answer:

Operating cash flows = $208,000

Explanation:

we know here that

accounts payable balance has decreased from $36,900 and $31,200

inventory balance has increased from $43,300 and $47,000

so to find out the operating cash flow any decrease in current liabilities and any increase in current assets should be subtracted from net income

so

accounts payable= current liability

and inventory = current asset

and

The operating cash flows to be reported should be computed as

Operating cash flows = Net income - Decrease in accounts payable balances - Increase in inventory balance ....................1

Operating cash flows =

Operating cash flows = $217,400 - ($36,900 - $31,200) - ($47,000 - $43,300)

Operating cash flows = $208,000

7 0

3 years ago

In an economy, the total expenditures for a market basket of goods in year 1 (the base year) was $5,000 billion. In year 2, the

julia-pushkina [17]

Answer:

The correct answer is option (C).

Explanation:

According to the scenario, the given data are as follows:

Base year basket price = $5,000 billion

Year 2 basket price = $5,500 billion

So, we can calculate the consumer price index by using following formula:

Consumer price index = (Year 2 basket price ÷ Base year basket price ) × 100

By putting the value, we get

Consumer price index = ( $5,500 ÷ $5,000 ) × 100

= 1.1 × 100

= $110 billion

5 0

3 years ago

On April 1, Sangvikar Company had the following balances in its inventory accounts:

noname [10]

Answer:

a.

DR Raw Material Inventory $30,000

CR Accounts Payable $30,000

b.

DR Work in Process Inventory $33,900

CR Raw Material Inventory $33,900

Working

= Job 114 + Job 115 + Job 116

= 16,500 + 12,400 + 5,000 = $33,900

c.

DR Work in Process $‭7,430‬

CR Wages Payable $‭7,430‬

Working

= (150 * 15) + (220 * 17) + (80 * 18)

= $‭7,430‬

d.

DR Work in Process $‭4,458‬

CR Manufacturing Overhead $‭4,458‬

Working

Overhead as % of Direct labor cost using Job 115 = Applied Overhead / Direct labor = 936/1,560 = 60%

Manufacturing Overhead = Overhead rate * Direct labor

= 60% * 7,430 = $‭4,458‬

e.

DR Manufacturing Overhead $4,765

CR Accounts Payable $4,765

f.

DR Finished Goods $‭23,520‬

CR Work in Process $‭23,520‬

Job 115 costs = Beginning + Material + Labor + Overhead

= (2,640 + 1,560 + 936) + 12,400 + (220 * 17) + (220 * 17 * 60%)

= $‭23,520‬

g.

DR Cost of Goods sold $‭23,520‬

CR Finished Goods $‭23,520‬

DR Accounts Receivable $‭32,928‬

CR Cost of Goods sold $‭32,928‬

Working

= ‭23,520‬ * 140%

= $‭32,928‬

4 0

3 years ago

List your personal and professional goals and create an individual career plan. Your plan should have specific milestones and ac

Ulleksa [173]

Explanation:

Setting specific, measurable career development goals can help you get to the next level in your career. While developing a career plan can entail a significant amount of work, it will pay off in helping you to understand where you want to go with your career next and what you need to do to get there.

Creating and implementing an employee career development plan allows you to feel motivated at work, even if you haven’t found your dream job just yet, because it helps you to make concrete plans to get there.

Here, we define a career development plan template and outline five steps to easily and efficiently make an individual development plan for yourself.

8 0

2 years ago

Sally is in the business of purchasing accounts receivable. Last year Sally purchased an account receivable with a face value of

Simora [160]

Answer:

Shally will not having any amount of bad debt deduction for the present year.

Explanation:

In the present year, Shally will not having any amount of bad debt deduction because she has a gain or income of $5,000. As, last year she has account receivable of $60,000 but this year she settled the account by receiving the $65,000 amount. So, she has received more amount than the basis in the receivable. Therefore, she will not have any bad debt deduction this year.

8 0

4 years ago