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Charra [1.4K]
3 years ago
9

You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters (where all of the

firm's records are kept) has been destroyed by fire. So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It earned $5 million in net income during the year but paid $700,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.4 million of machinery that was needed for a new project. You have just spoken to the firm's accountants and learned that the annual depreciation expense for the year is $460,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate.
What was the firm's end-of-year cash balance?

Business
2 answers:
Andru [333]3 years ago
6 0

Answer:

The ending cash balance is $40,000

Explanation:

Kindly check attached picture for detailed explanation on Cash Flow statement

Harman [31]3 years ago
4 0

Answer:

$410,000

Explanation:

check the picture attached below for further explanation about the problem. I hope it helps it. Thank you

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Stella [2.4K]
The answer is productivity. The productivity is an financial measure of output per unit of input. Inputs comprise labor and capital even though output is classically measured in revenues and other gross domestic manufactured goods constituents such as business inventories. Productivity methods may be look at cooperatively cross-ways the whole economy or watched industry by industry to inspect tendencies in labor growth, wage levels and technological development.<span />
5 0
3 years ago
g Dave's Duds reported cost of goods sold of $2,000,000 this year. The inventory account increased by $200,000 during the year t
FrozenT [24]

Answer:

$2,200,000

Explanation:

The movements in the inventory account is as a result of purchases, sales and writeoffs if any. These are the events that bring about a change between the opening and closing balances.

Given;

cost of goods sold = $2,000,000

Increase in inventory = $200,000 (This is same as closing balance minus opening balance)

Ending balance = $400,000

Thus, opening balance = $400,000 - $200,000

= $200,000

Let the cost of merchandise that Dave's purchased during the year be N

$200,000 + N - $2,000,000 = $400,000

N = $400,000 + $2,000,000 - $200,000

N = $2,200,000

The cost of merchandise that Dave's purchased during the year is $2,200,000

6 0
3 years ago
Hernandez Builders has a gross payroll for January amounting to $500,000. The following amounts have been withheld: Federal inco
sattari [20]

Answer:

Net pay is  $383,750

Explanation:

Hermandez builders net pay can be computed by deducting the following from the gross payroll amount:

Federal income taxes

social security

medicare

charitable contributions

union dues

The net pay is computed thus:

Gross payroll pay                                                      $500,000

Federal income taxes                              $63,000

Social security                                          $31,000

medicare                                                  $7,250

charitable contributions(1%*$500000)  $5,000

union dues (2%*$500000)                     $10,000    

                                                                                ($116,250)

Net pay                                                                     $383,750  

3 0
3 years ago
If a c corporation is formed on January 1, 2013 what date can it be incorporated?
zhenek [66]

Answer:

The C Corporation was incorporated on January 1 of 2013.

Explanation:

A corporation is a legal entity that constitutes a body to the eyes of the law. it is formed to run a particular business and has as main characteristic the Limited Liability of their owners.  

Incorporation is the legal process needed to be followed in order to create a corporation. Thus. If C corporation was formed on January 1, 2013. The Incorporation day is the same January 1, 2013.

8 0
3 years ago
7. Multi-Step Four girls and two boys
dimaraw [331]

Answer:

1.5 is the answer

Explanation:

4+2=6 divided  4=1.5

3 0
3 years ago
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