All categories

3 years ago

The following information is available for Ivanhoe Company for the year ended December 31, 2022.

Business

1 answer:

aivan3 [116]3 years ago

7 0

Answer and Explanation:

The preparation of the cash flow statement is presented below:

Cash Flows From Operating Activities

Net Income $497,175

Adjustments made:

Less: Increase in Accounts Receivable -$14,350

Less: Increase in Inventory -$19,250

Less: Decrease in accounts payable -$6,475

Add: Increase in Income tax payable $8,225

Add: Depreciation Expense $283,500

Net Cash Provided by Operating Activities (A) 748,825

Cash Flows From Investing Activities

Cash received for sale of land at book value $61,250

Less: Cash used to purchase a building -$505,750

Net Cash Provided by Investing Activities (B) -$444,500

Cash Flows From Financing Activities

Cash received from issuing bonds $350,000

Less: Cash used to purchase Treasury stock -$45,500

Less: Cash Dividends Paid -$21,000

Net Cash Used by Financing Activities (C) $283,500

Net Increase in Cash (A+B+C) $587,825

Add: Beginning cash balance 78,750

Ending cash balance $666,575

You might be interested in

A company that creates education products is planning to create a suite of books to help customers prepare for high-stakes tests

GalinKa [24]

Answer:

Explanation:

Since they do not have enough writers to create all of the books then the best option would be to focus on and create Prep for the Grad School Entry Test, Prep for the Law School Entry Test, and Prep for the Medical School Entry Test. This would be the best option since the Grad School Entry Test will prepare students of a wide range of different careers. On the other hand, the two hardest and longest careers are that of Law and Medical School which should get their own books in order for the students to be better prepared.

6 0

3 years ago

The symbol in flow-charting that is used to mark the point in the process where the analysis skips to another common point of th

Nostrana [21]

Full question:

The symbol in flowcharting that is used to mark the point in the process where the analysis skips to another common point of the process is called:

a. Terminator icon

b. Line connector icon

c. Connector icon

d. Process icon

Answer:

The symbol in flow-charting that is used to mark the point in the process where the analysis skips to another common point of the process is called connector icon

Explanation:

Connector Symbol Symbolizes that the flow proceeds where an equal symbol has been assigned. Connector symbols perform it more accessible to combine flowcharts that traverse many pages. A loop may, consists of a connector where controller first begins, processing steps, a qualified with 1 arrow exiting in the loop, and one running back to the connector.

Off-page connectors are often employed to imply a connection to a process carried on another sheet. Connectors are regularly labeled with capital letters to dispense coordinating jump points.

4 0

2 years ago

It is said that in a perfectly competitive market, raising the price of a firm's product from the prevailing market price of $17

stich3 [128]

Answer:

could likely result in a notable loss of sales to competitors

Explanation:

In the case of the perfect competitive market wheen the price of the firm is increased from $179 to $199 as compared to the prevailing market price so this means that there should be the loss with respect to the sales for the competitors or rivalrs as this would result the firm to lose its overall shares to its rivalry

Therefore the above statement should be considered true

6 0

2 years ago

The perfectly price-discriminating monopolist is like the __________ in this regard.

Nadusha1986 [10]

Answer:

The correct answer is perfectly competitive firm.

Explanation:

The discriminating monopoly of prices is that where each unit of the product is placed at a different rate. That is, the seller charges each customer differently, depending on various factors such as the budget constraint.

The marginal income curve of the monopolist that can discriminate perfectly is exactly the same as its demand curve. The level of production maximizing the benefit of the benefit is Q *, which is the one in which the CMC curve is cut and the demand, the economic benefit (II).

8 0

3 years ago

On January 1, 2016 Dinwiddie Company purchased a car that cost $45,000. The car had an expected useful life of 6 years and a $10

disa [49]

Answer:

.B. The amount of depreciation expense recognized in 2019 would be greater if Dinwiddie depreciates the car under the straight-line method than if the double declining balance method is used

Explanation:

The double-declining method recognizes higher depreciation amounts in the first years of an asset 's life. The method applies twice the rate of the straight-line method on a declining book value balances. In the latter years, the depreciation amount will be less because the book value will have declined considerably.

In this case, a useful life of six years attracts a straight-line depreciation rate of 16.6 % (1/6 x 100). the double-declining method will apply a rate of 33.2 %.

The straight-line method applies a constant rate throughout the use-life of an asset. The book value decreases at a constant rate, unlike in double -declining, where the book value decreases rapidly in the early years of the asset. 2019 will be the fourth year in this case. The fourth-year is in the latter stages of a six-year useful life.

3 0

2 years ago