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yaroslaw [1]
3 years ago
9

Net income for the year was $29,500. Accounts receivable increased $2,500, and accounts payable increased $5,400. Under the indi

rect method, the cash flow from operations is $32,000.
a. True
b. False
Business
1 answer:
Contact [7]3 years ago
4 0

Answer:

a.

Explanation:

True

hope it helps!

....

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The income statement begins with revenue and subtracts various operating expenses until arriving at Earnings Before Interest and
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Full question attached

Answer:

D. Earnings before interest and taxes(EBIT)

Explanation:

Earnings before interest and taxes abbreviated EBIT in the income statement is arrived at by deducting operating expenses from revenue/sales to get operating income. The operating income is earnings before interest and taxes which comes before gross income(subtract other expenses). Operating expenses are the main expenses concerned with operations of the business such as the Sales

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In a transaction between merchants, the additional proposed terms automatically become part of the contract unless
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The correct answer would be d. all of the above
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4 years ago
Kristen and her brothers and sisters decided to form a partnership that specializes in home design of all types. One of their go
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3 0
3 years ago
Lauer Corporation has provided the following information about one of its laptop computers: Date Transaction Number of Units Cos
Maru [420]

Answer:

Lauer Corporation

The Cost of Goods Sold using the LIFO cost flow assumption is:

$740,000 ($780,000 - $40,000)

Explanation:

Date Transaction             Number of Units    Cost per Unit   Total

1/1      Beginning Inventory     100                   $ 800              $80,000

5/5    Purchase                      200                   $ 900               180,000

8/10   Purchase                      300                 $ 1,000              300,000

10/15 Purchase                      200                  $ 1,100              220,000

Year Total                              800                                          $780,000

Year  Sales                            750                                         $ 740,000

Year  Ending Inventory          50                   $ 800               $40,000

b) The Cost of goods sold ($740,000) is determined by subtracting the ending inventory ($40,000) from the cost of goods available for sale ($780,000).   Other method of determining the cost of goods sold under the LIFO cost flow assumption would be to add up the individual costs of purchases to the beginning inventory and then subtract ending inventory.  The LIFO cost flow assumption assumes that items sold are from the latest inventory and not the earlier ones.

8 0
3 years ago
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