All categories

2 years ago

Fitz Company reports the following information.

Business

1 answer:

Paha777 [63]2 years ago

4 0

Answer and Explanation:

The preparation of the operating activities section is presented below:

Cash flows from operating activities

Net income $374,000

Adjustments made

Add: Depreciation $44,000

add: Amortisation expanses $7,200

Add: Accounts receivable decrease $17,100

Add: Inventory decrease $42,000

Less: Prepaid expense increase -$4,700

Less: Accounts payable decrease -$8,200

Add: Wages payable increases $1,200

Less: Gain on sale of machinery -$6,000

Net cash provided by operating activities $466,600

You might be interested in

Method of Least Squares, Developing and Using the Cost Formula The method of least squares was used to develop a cost equation t

liberstina [14]

Answer:

Total cost of receiving 8000 parts: 2878700

Detailed solution is given in tabular form below:

5 0

3 years ago

Corner Supply has a current accounts receivable balance of $246,000. Credit sales for the year just ended were $2,430,000. How m

Wewaii [24]

Answer:

See below

Explanation:

Given the above information, the average debtor days is computed as seen below.

= Total receivables / Credit sales × 365

Total receivables = $246,000

Credit sales $2,430,000

Then,

Average debtor days

= $246,000 / $2,430,000 × 365

= 36.95 days

Hence, it would take 36.95 days on the average for credit customers to pay off their debts during this past year

4 0

2 years ago

In your own opinion, why do you think it is important to establish a daily job search routine?

Alenkinab [10]

The answer is: because every day there is more opportunities opening up

You will never know where a company will post a job opportunities that provide better conditions or salaries compared to the job that you currently had. Because of this, you need to keep expanding your networks and setting up routine job search schedule.

5 0

3 years ago

Read 2 more answers

An investor can invest money with a particular bank and earn a stated interest rate of 13.20%; however, interest will be compoun

mr_godi [17]

The effective compound interest rate is 13.87%.

<h3><u>What is Compound Interest?</u></h3>

The interest on a loan or deposit that is calculated based on both the initial principle and the accumulated interest from prior periods is known as compound interest (also known as compounding interest).
Compound interest, sometimes known as "interest on interest," is said to have its roots in 17th-century Italy. Compared to simple interest, which is calculated solely on the principal amount, it will cause a sum to grow more quickly.
The frequency of compounding determines the rate at which compound interest accumulates.
The compound interest increases with the number of compounding periods.
For instance, during the same period of time, the amount of compound interest accrued on $100 compounded at 10% yearly will be less than $100 compounded at 5% semi-annually.

Nominal = interest rate

That is Nominal rate is also known as interest rate.

Nominal rate = 13.20%

The invested money is compounded quarterly.

Periodic = 13.2%/4 (quarterly)

Periodic rate = 3.30%

Now,

The interest rate that accounts for compounding over a specific time period is called the Effective Annual Interest Rate (EAR). The rate of interest that an investor can earn (or pay) in a year after taking into account compounding is known as the effective annual interest rate, to put it simply.

Effective annual rate = EFF% = [1 + (0.13200 / 4)]⁴ - 1 = 13.87%

Know more about Compound Interest with the help of the given link:

brainly.com/question/14295570

#SPJ4

3 0

1 year ago

in forward and futures contracts, the risk of non-fulfilment of contract terms is most likely borne by:

topjm [15]

In forward and futures contracts, the risk of non-fulfillment of contract terms is most likely borne by <u>both parties</u><u> to the contract</u>.

<h3>What are forward and futures contracts?</h3>

The difference between a forward and futures contract lies in their establishment.

A forward contract is a personal arrangement traded over the counter whereas, a futures contract is a standardized contract made through an established exchange.

Thus, in forward and futures contracts, the risk of non-fulfillment of contract terms is most likely borne by <u>both parties</u><u> to the contract</u>.

Learn more about forward and futures contacts at brainly.com/question/15581105

#SPJ12

7 0

1 year ago