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siniylev [52]
3 years ago
9

Fox, Inc. reported net income of $300,000 for the current. Changes occurred in several balance sheet accounts as follows: Equipm

ent $25,000 increase Accumulated depreciation 10,000 decrease Note payable 30,000 increase Additional current year information: • During the year, Fox received $20,000 for the sale of equipment costing $80,000 that was 80% depreciated. • In December, Fox purchased equipment costing $50,000 with $20,000 cash and a 12% note payable of $30,000. In Fox's statement of cash flows for the year, net cash provided by operating activities should be_______________.
Business
2 answers:
elena-s [515]3 years ago
8 0

Answer:

After making calculations it must count to 329 600

Explanation:

You have to find out what the Cash would be if non-cash transactions did not affect it:

Net income 300 000

Add finance cost 3 600

(30 000*12%)

Less depreciation 10 000

(normally, you have to add the depreciation back, but in the problem it is decreased meaning depreciation amount was decreased, so you have to deduct instead of adding it. )

Add note payables 30 000

Less profit from sales 4 000

(20 000-(80000-(80000*80%))

As for purchase of equipment, this refers to Investment activity.

Len [333]3 years ago
5 0

Answer:

Cash flow from operating activities = 296, 000

The cashflow from operating activities does not include cash flows related to investing and financing activities. So while calculating Cash flow from operatin g activities we will exclude interest expense, include depreciation and exclude profit on diposal of equipment. Calculations are given below.

Net Income            = 300,000

Add interest expense = 300 (30,000*12/12)

(it is related to financing activities)

Less profit on disposal = (4000)

(20000-16000)

So Cash flow from operating activities = 296, 000

*NO information about depreciation charge.

You might be interested in
An example of a transfer payment is:________
Fed [463]

Unemplyment benefits are an example of a transfer payment. So, the correct option of this question is b.

Transfer payment is payment made or income received in which goods and services are not paid is known as transfer of payment. It is one-way payment. Transfer Payment is also known as Government transfer as it is given by the Government without goods and services being received in return. Transfer of payment is based on the concept of donor and recipient. A donor gives up something of value without receiving anything in return.

Unemployment benefits are given by the Government without receiving any goods or services in return so it is considered a transfer payment. The government collects money through taxes then this money is reallocated to citizens equally through welfare services.

Unemployment benefits are also provided by the Government therefore it is an example of transfer payment.

While other options are incorrect because rent, wages and government purchases dont have relation with transfer payment.

Therefore, the correct option of the given question is b i.e. Unemployment benefits.

You can learn more about transfer payment at

brainly.com/question/7176766

#SPJ4

6 0
2 years ago
You just purchased an existing business that produces solar panels according to the following production function:
frez [133]

Answer:

<u>$50</u>

<u>Explanation</u>:

In the production function, Q = K0.5L0.5,

K denotes the fixed input in the short run.

First, we calculate the total cost:

Cost of Capital= 25 x $1 = $25

Cost of Labor (for a start 25 workers are used)= 25 x $1 = $25

Total= $50

Since the price of the solar panels is $100, substrating from the total cost $50 (100-50) we get $50 profit per unit of solar panel.

4 0
3 years ago
3. An investor shorts 100 shares when the share price is $20 and closes out the position six months later when the share price i
solniwko [45]

Answer:

$160

Explanation:

Calculation to determine How much does the investor gain or lose

Investor gain =[($20-$18.2)*100 Shares]- ($0.2*100 shares)

Investor gain=($1.8*100 shares)-($0.2*100 shares)

Investor gain=$180-$20

Investor gain=$160

Therefore The amount that the investor gain is $160

7 0
3 years ago
On January 1, 2016, Ott Company sold goods to Fox Company. Fox signed a noninterest-bearing note requiring payment of $60,000 an
inessss [21]

Answer:

D. 321,600.

Explanation:

Present value is the current value of a future amount that is to be received or paid out.

Given:

Present value, P = $60000

Present value of ordinary annuity for the remaining 6 years = 4.36

The Present value, PV of the note is equal to the first payment + the Present value of ordinary annuity (all at 10%) of the remaining six payments

Sales revenue = $60000 + (60,000 × 4.36)

= $60000 + $261,600

= $321,600

Thus, sales revenue of $321,600.

3 0
3 years ago
XYZ Corp. has filled 100,000 purchase orders during its existence. 1,100 of the purchase orders have had errors. Using an empiri
cluponka [151]

Answer:

1.1%

Explanation:

Calculation to determine what the probability of the next purchase order having an error is using

an empirical probability

Using this formula

Probability=Purchase orders errors/Purchase orders filled

Let plug in the formula

Probability=1100/100000

Probability=0.011*100

Probability=1.1%

Therefore using an empirical probability the probability of the next purchase order having an error is 1.1%

5 0
3 years ago
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