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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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Hurlburt Corporation renewed an insurance policy for 3 years beginning July 1 and recorded the $81,000 premium in the prepaid in
Slav-nsk [51]

Answer:

B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.

Explanation:

If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.

$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.

8 0
3 years ago
Luthan Company uses a predetermined overhead rate of $22.60 per direct labor-hour. This predetermined rate was based on a cost f
Anit [1.1K]

Answer:

$248,600

Explanation:

The computation of amount of manufacturing overhead is shown below:-

Amount of manufacturing overhead would have been applied = Predetermined overhead rate × Actual direct labor-hours

= $22.60 × 11,000

= $248,600

Therefore for computing the amount of manufacturing overhead we simply multiply the Predetermined overhead rate with Actual direct labor-hours

5 0
3 years ago
Ronald suffers from dementia that impacts his brain function, but he also has healthy periods of time when his mind is fully fun
vova2212 [387]

Answer:

2. False

Explanation:

Capacity to a contract refers to whether the person to a contract is legally competent to enter into such a contract.

For instance, lunatics, drunkards, minors, criminals and person of unsound mind are deemed incapable of entering into a contract.

A person diagnosed with dementia, which impairs his decision making would normally be regarded as incapable to signing a contract.

But, capacity is ascertained as per the situation i.e at the time the contract is signed or entered into.

In the given case, Ronald entered a contract while he was sane and in healthy state of mind. His judgement at the time of entering such a contract wasn't impaired by dementia.

Thus, the contract will be legally enforceable as per the law.

6 0
3 years ago
Why do you think different college majors pay for themselves at different rates?
Brums [2.3K]
In my opinion, i think this happens because different majors can you get different jobs, where people are making different amounts of money! so if you had a education degree, it would take longer to pay it “off” verses say a law degree! hope that kinda helped :)
3 0
3 years ago
What is the process of earning your income sometimes called?
Maurinko [17]
<span>The process of earning your income is called earning a living. It may be because we need different things to live a comfortable life. For these, we need a income first. So by earning income, we are indirectly earning a (comfortable) living.</span>
3 0
3 years ago
Read 2 more answers
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