All categories

3 years ago

The 2020 accounting records of Novak Corp. reveal these transactions and events.

Business

1 answer:

anastassius [24]3 years ago

4 0

Answer:

Statement of Cash Flows (Direct Method)

For Year Ended December 31, 2020

Particulars Amount

Cash Flows from operating activities:

Cash Receipts from:

Customers ($50800+ $190100) $240,900

Dividend Revenue $18,800 $259,700

Less: Cash payments:

For Interest -$10,000

For Income Taxes -$16,900

To suppliers for Merchandise -$115,600

For Salaries and wages -$57,100

For Operating Expenses -$28,300 -<u>$227,900</u>

Net Cash provided by operating activities <u>$31,800</u>

You might be interested in

Suppose the demand curve for a product is given by Q = 11 - 2P + 3Ps Where P is the price of the product and Ps is the price of

Alex17521 [72]

Answer: (a) -0.1412

(b) 0.4941

Explanation:

Q = 11 - 2P + 3Ps

Where,

P - price of the product

Ps - price of a substitute good

Ps = $2.80

P = $1.20

$\frac{dQ}{dP} = -2$

$\frac{dQ}{dPs} = 3$

$Price\ elasticity\ of\ demand= \frac{P}{Q}\times\frac{dQ}{dP}$

$Price\ elasticity\ of\ demand= \frac{1.20}{11-2P+3Ps}\times(-2)$

$Price\ elasticity\ of\ demand= \frac{1.20}{11-2\times1.2+3\times2.8}\times(-2)$

= $\frac{-2.4}{17}$

= -0.1412

$Cross\ Price\ elasticity\ of\ demand= \frac{Ps}{Q}\times\frac{dQ}{dPs}$

= $\frac{2.8}{17}\times3$

= 0.4941

4 0

3 years ago

For the following problem(s), consider these debt strategies being considered by a corporate borrower. Each is intended to provi

natita [175]

Answer:

From the strategies provided, the correct debt strategies that will help a corporate borrower eliminate credit risk are strategy 1 and strategy 2, which are; Strategy #1: Borrow $1,000,000 for three years at a fixed rate of interest of 7%. and Strategy #2: Borrow $1,000,000 for three years at a floating rate of LIBOR + 2%, to be reset annually. The current LIBOR rate is 3.50%.

5 0

4 years ago

North slope realty co. pays weekly salaries of $7,900 on friday for a five-day week ending on that day. what is the adjustment a

mestny [16]

You will have to just take the whole amount then square root it and use pie to find the whole toll amount then. Subtract your original amount from it and your done !!

3 0

3 years ago

Kelchner Corporation has provided the following contribution format income statement. Assume that the following information is w

Juliette [100K]

Answer:

The contribution margin ratio is closest to 40%

Explanation:

The contribution margin ratio calculates the percentage of sales that will contribute to cover fixed costs and earn a profit. The contribution margin is the difference between the selling price per unit and the variable cost per unit of a product. The contribution margin ratio is the contribution margin per unit represented as a percentage of selling price per unit or total contribution margin represented as a percentage of total sales revenue.

CM Ratio = Total contribution margin / Total Sales revenue

CM ratio = 72000 / 180000 = 0.4 or 40%

7 0

3 years ago

Now consider the case in which the manufacturer offers a marginal unit quantity discount for the plywood. The first 20,000 squar

Sindrei [870]

Answer:

Explanation:

We can use the following method to solve the given problem

We are given following

Annual demand,

D = 20000*12

D = 240,000 sqft

Fixed order cost, is given as

S = $ 400

Considering the unit cost, is given as

C = $ 1

Holding cost, H = 1*20% = $ 0.2

EOQ = sqrt(2DS/H)

= √(2*240000*400/0.2)

= 30,984 sq ft

This is higher than 20,000 and less than 40,000 sq ft. For this reason, the applicable price for this quantity is $ 0.98

For C = $ 0.98, holding cost, H = 0.98*20% = $ 0.196

Revised EOQ = sqrt(2*240000*400/0.196) = 31,298 sq ft

Total annual cost of EOQ policy = D*C + H*Q/2 + S*D/Q

= 240000*0.98 + 0.196*31298/2 + 400*240000/31298

= $ 241,334.5

Now consider the next level of price, C = $ 0.96

Holding cost, H = 0.96*20% = $ 0.192

EOQ = sqrt(2*240000*400/0.192)

= 31633 sqft

This amount is will not be feasible for this price, because it requires a minimum order of 40000 sqft.

Therefore, Q = 40,000

Total annual cost = 240000*0.96 + 0.192*40000/2 + 400*240000/40000

Total annual cost = $ 236,640

Total annual cost is lowest for order quantity of 40,000 sq ft.

1) Optimal lot size = 40,000 sq ft.

2) the annual cost of this policy

= $ 236,640

3) the cycle inventory of plywood at Prefab = Q/2 = 40000/2

At prefeb= 20,000 sq ft

4) let's assume the manufacturer sells all plywood at $ 0.96, then

Holding cost, H = 0.96*20%

H= $ 0.192

EOQ = sqrt(2*240000*400/0.192)

EOQ = 31633 sqft

Total annual cost = 240000*0.96 + 0.192*31633/2 + 400*240000/31633

Total annual cost = $ 236,471.6

Difference in total annual cost = 236640 - 236471.6 = $ 168.4

4 0

3 years ago