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kramer
3 years ago
8

Each of these items must be considered in preparing a statement of cash flows for Flint Corporation. for the year ended December

31, 2022.For each item, state how it should be shown in the statement of cash flows for 2022.a. Issued bonds for $150,000 cash.
b. Purchased equipment for $200,000 cash.
c. Sold land costing $50,000 for $50,000 cash.
d. Declared and paid a $20,000 cash dividend.
Business
1 answer:
patriot [66]3 years ago
8 0

Answer and Explanation:

The classification is as follows:

a. Financing activity inflow of cash

b. INvesting activity outflow of cash

c. Investing activity inflow of cash

d. Financing activity outflow of cash

The inflow of cash shows the positive sign while on the other hand the outflow of cash shows the negative sign

And, the same should be relevant

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The following lots of a particular commodity were available for sale during the year: Beginning inventory 10 units at $60 First
Rus_ich [418]

Answer:

The answer is: the amount of inventory at the end of the year was $1,583 using the average cost method.

Explanation:

The average cost method calculates the cost of inventory by dividing the total costs of goods by the total units.

  • 10 units x $60 = $600
  • 25 units x $65 = $1,300
  • 30 units x $68 = $2,040
  • 15 units x $75 = $1,125

The total cost of inventory is $5,065 ($600 + $1,300 + $2,040 + $1,125)

The total units in inventory are 80 (10 + 25 + 30 +15)

To find the average cost per unit = $5,065 / 80 units = $63.31

If 25 units were left at the end of the year, then the total cost of inventory is $63.31 x 25 = $1,582,81 or $1,583

3 0
3 years ago
Felton Co. sells major household appliance service contracts for cash. The service contracts are for a 1-year, 2-year, or 3-year
tia_tia [17]

Answer:

Unearned Service Contracts Revenue = $330,000

Explanation:

Unearned Service Contracts Revenue refers to the expected revenue from a contracts been carried and has yet been paid.

Unearned Service Contracts Revenue for 2010 = $100,000, for 2011 = $160,000 and for 2012 = $70,000

Unearned Service Contracts Revenue = $100,000 + $160,000 + $70,000

Unearned Service Contracts Revenue = $330,000

7 0
3 years ago
Lou Barlow, a divisional manager for Sage Company, has an opportunity to manufacture and sell one of two new products for a five
andrey2020 [161]

Answer:

1. Calculate the payback period for each product.

  • A = 2.71 years, A is preferred
  • B = 2.8 years

2. Calculate the net present value for each product.

  • A = $60,349
  • B = $83,001, B is preferred

3. Calculate the internal rate of return for each product.

  • A = 25%, A is preferred
  • B = 23%

4. Calculate the project profitability index for each product.

  • A = 121%, A is preferred
  • B = 117%

5. Calculate the simple rate of return for each product.

  • A = 184%, A is ´preferred
  • B = 179%

6B. Based on the simple rate of return, Lou Barlow would likely:

  • 1. Accept Product A, since its IRR is 25% which exceeds the company's  minimum ROI (23%)

Explanation:

                                       Product A               Product B

Initial investment:

Cost of equipment          $290,000              $490,000

Annual revenues and costs:

Sales revenues              $340,000               $440,000

Variable expenses         $154,000               $206,000

Depreciation expense    $58,000                 $98,000

Fixed out-of-pocket

operating costs               $79,000                 $59,000

net cash flow                  $107,000                $175,000

The company's discount rate is 16%.

payback period

A = $290,000 / $107,000 = 2.71 years, A is preferred

B = $490,000 / $175,000 = 2.8 years

using an excel spreadsheet I calculated the NPV and IRR

NPV

A = $60,349

B = $83,001, B is preferred

IRR

A = 25%, A is preferred

B = 23%

Project profitability

A = $350,349 / $290,000 = 1.21

B = $573,001 / $490,000 = 1.17

Simple rate of return

A = $535,000 / $290,000 = 184%, A is ´preferred

B = $875,000 / $490,000 = 179%

5 0
3 years ago
Which of the following comes closest to the value at the end of year 6 of investing $600 today (year 0) and then investing anoth
cestrela7 [59]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Investment= $600 today and $600 at the end of year 5

Interest rate= 3%

To calculate the final value, we need to apply the following formula on each investment:

FV= PV*(1+i)^n

FV= 600*(1.03^6)= $716.43

FV= 600*(1.03^1)= $618

Total FV= $1,334.43

5 0
3 years ago
Sorenson LLC, a publicly traded company, has ten members on its board. Of the ten members, six members are employees of the comp
Vesnalui [34]

Answer:

D. 7

Explanation:

Based on the information provided within the question it can be said that they need to appoint a total of 7 outside board members to achieve board independence. This is because in order to achieve board independence the board needs to consist of more members that are not employees than those who are. This is because votes need to be made in accordance to what is best for the company and shareholders, which may not always be best for the employees. Therefore when voting the employees may be biased.

8 0
3 years ago
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