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Keith_Richards [23]
3 years ago
9

In preparing a company's statement of cash flows for the most recent year, the following information is available:

Business
1 answer:
lesya [120]3 years ago
4 0

Answer:

c. $139,000 of net cash used.

Explanation:

Investing Activities shows results from Purchase or Sales of Assets or Investments.

Cash flow from Investing Activities

Purchase of equipment                                  (150,000)

Proceeds from the sale of equipment            131,000

Purchase of land                                             (120,000)

Net Cash used by Investing Activities           (139,000)

Net cash flows from investing activities for the year were: ($139,000)

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Two individuals at a retail store work the same cash register. You evaluate this situation as Select one: a. Supporting internal
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B. A violation of establishment of responsibility

Explanation:

They both should have established something different to work on but for both of them to work the same cash register, it is a violation of establishment of responsibility

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3 years ago
For an automobile company, the total overhead applied was $48,000,000 at the end of the year. Actual overhead was $52,850,000. C
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Answer:

Net income decreased by $4,850,000.

Explanation:

Given total overhead applied = $48000000

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Over/under Applied overhead = total overhead applied - Actual overhead at the end of the year.

Over / under Applied overhead = 48000000-52850000

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From the calculation, it can be seen that the overhead is underapplied therefore when under applied overhead allocated to cost of goods sold then cost of goods sold decreased by $4850000.

4 0
3 years ago
"I don't understand why you're afraid to commit to this new ad program," said Barry, sales representative of a popular radio sta
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In this scenario, Barry would be classified as a(n) <u>A. aggressive</u> salesperson.

<u>Explanation</u>:

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One day Barry was discussing with the marketing manager of a larger retail store regarding their new ad program. Barry was clear that the ad will be broadcasted around the clock all over the town if they agree with their radio station. He told that the ad will be aired day after tomorrow if the manager is ready to sign today.

5 0
3 years ago
On January 1, Zeibart Company purchases equipment for $220,000. The equipment has an estimated useful life of 10 years and expec
Nataly_w [17]

Answer:

(1) $19,500

(2) $142,000

(3) $27,000

(4) $15,000

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the p/l over the useful life of the asset. It may be computed as

Depreciation = (cost - salvage value)/useful life

Annual depreciation = ($220,000 - $25,000)/10

= $19,500

4 years later

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= $220,000 - 4 * $19,500

= $220,000 - $78,000

= $142,000

If the asset is impaired

An asset is said to be impaired when the carrying amount is higher than recoverable amount where the recoverable amount is the higher of the fair value less cost to sell or the value in use of the asset which is the present value of the future expected inflow from the use of the asset.

Value in use = $115,000

Fair value = $85,000

Value in use = $115,000

Impairment loss = $142,000 - $115,000

= $27,000

Remaining number of years is 6

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the annual depreciation expense = ($115,000 - $25,000)/6

= $90,000/6

= $15,000

5 0
2 years ago
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