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Tatiana [17]
2 years ago
15

Stormer Company reports the following amounts on its statement of cash flow: Net cash provided by operating activities was $30,5

00; net cash used in investing activities was $11,000 and net cash used in financing activities was $13,500. If the beginning cash balance is $5,500, what is the ending cash balance
Business
1 answer:
DIA [1.3K]2 years ago
6 0

Answer:

$38,500

Explanation:

Sheridan's ending cash balance can be calculated as;

= Beginning cash balance + cash provided by operating activities + cash provided by financing activities - cash used by investing activities

= $5,500 + $30,500 + $13,500 - $11,000

= $38,500

Therefore, the ending cash balance is $38,500

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Retained earnings, december 31, 2015 $ 313,700 cost of equipment purchased during 2016 32,000 net loss for the year ended decemb
geniusboy [140]

The retained earnings are affected by the net income or loss or any amount paid to the shareholders as dividends. The retained earnings balance as of December 31, 2016 shall be calculated as follows:

Retained earnings, December 31, 2015                               $ 313,700

Less:  Net loss for the year ended December 31, 2016     -$4,850

Less: Dividends declared and paid in 2016                       -$17,000

Retained earnings, December 31, 2016                              $291,850


Hence, the retained earnings balance as of December 31, 2016 is <u>$291,850</u>


3 0
3 years ago
Read 2 more answers
From 1973 to 1986, growth in the United States economy was over 33 percent, while the percent growth in United States energy con
Ierofanga [76]

Answer: D

Explanation:

We are given a comparison between 'economic growth' and 'growth energy consumption' and told that the first increased and the second did not. We are also told that a certain amount of oil is being saved by energy improvements. As it is difficult to infer a likely answer in 'must or could be true' type questions, we'll go over all of the options, the Alternative approach.

A. We have no information on the relative ease of finding new sources of oil. No

B. We have no information on how to reduce oil imports. No

C. We have no information on what caused energy consumption to remain steady. No

D. This is exactly what happened so is true. This is almost certainly our answer, let's go over (Correct )

E. We have no information on the link between development of energy sources and growth. No

(D) is our answer; note that all other answers explicitly added information not in the original passage. This is what you need to watch out for in these types of questions.

7 0
2 years ago
Many hydrothermal mineral deposits of copper, gold, silver, and other metals have been found in the countries bordering the paci
Brums [2.3K]
Qerrtuipkfszb bjgactyesouvpj jcotstick jcyo
7 0
2 years ago
Bonita Industries began the year by issuing $75500 of common stock for cash. The company recorded revenues of $772000, expenses
Alex

Answer:

net income = $106,000

Explanation:

net income = total revenues - total expenses = $772,000 - $666,000 = $106,000

Any additional capital raised will increase the company's cash flows (financing activity) and any dividends distributed will decrease them (another financing activity), but they do not affect the company's net income.

3 0
2 years ago
Topdog is a toy company, whose profit/sales percentage is 13% in 2015, 16% in 2016 and 20% in 2017. Assuming simple trend, what
elixir [45]

Answer:

25%

Explanation:

Using simple trend, to calculate the predicted sales/profit of 2018, we use;

(percentage sales of 2017 - percentage sales of 2016) ÷ percentage sales of 2016.

we have,

percentage sales in 2018 = <u>20 - 16</u>

                                              16

                                        =  <u>4</u>

                                           16

                                       = 0.25.

Percentage sales in 2018 = 25% i.e 0.25 x 100%

Cheers.

6 0
3 years ago
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