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Rufina [12.5K]
2 years ago
15

Skysong, Inc. reported net income of $194,500 for 2020. Skysong also reported depreciation expense of $47,500 and a loss of $6,2

00 on the disposal of plant assets. The comparative balance sheet shows a decrease in accounts receivable of $18,200 for the year, a $20,200 increase in accounts payable, and a $5,000 decrease in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2020. Use the indirect method.
Business
1 answer:
Elza [17]2 years ago
8 0

Answer:

Net cashflow from operating activities =$271,400

Explanation:

<em>The cash flow statement is a financial statement that provides information about the sources and the usage of cash during a particular accounting period usually a year.</em>

It provides the cash inflow and outflows under three (3 ) categories of activities operating investing, financing.

The net operating activities section of the  cash flow is prepared below:

                                                                            $  

Net income                                                      194,500

Add Depreciation expense                             47,500

Add Loss on disposal                                       6,200

Add Decrease in account receivable             18,200

Add Increase in accounts payable                <u>  5,000</u>

Net cashflow from operating activities      <u>271,400  </u>

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Mark and rasheed are at the bookstore buying new calculators for the semester. mark is willing to pay $75 and rasheed is willing
Rom4ik [11]

The correct answer is $45

Mark and Rasheed are at the bookstore buying new calculators for the semester. Mark is willing to pay $75 ( <em>$75 - $65 = </em><em>$10</em> ) and  Rasheed is willing to pay $100 ( <em>$100 - $65 = </em><em>$35</em> ) for a graphing calculator. The price for a calculator at the bookstore is $65. Their total consumer surplus ( <em>$10 + $35 = $45</em> )  is $45

5 0
3 years ago
Boi, why am i alive.-
Marianna [84]
Ahah relatable but anyways u good?
6 0
3 years ago
When a serious customer injury occurs due to product contamination, you need to make contact with your DL and QA within
klemol [59]

Serious injuries due to product contamination need to be reported within a day or 24 hours to DL and QA

Product contamination occurs as a product is in contact with a chemical, bacteria, fungi, etc., or any other substance that is not part of the regular composition of the product.

Product contamination is a serious issue that can lead to disease, accidents, and even death. Due to this, if product contamination occurs and this causes an injury this needs to be reported as soon as possible, usually within 24 hours.

This is important because the company that produces the product can:

  • Provide a solution or compensation to victims.
  • Find the cause of contamination.
  • Prevent serious injuries in other users.

Moreover, this should be reported to areas such as Quality Assurance (QA) that verify the quality of products.

Learn more in: brainly.com/question/2600140

7 0
2 years ago
Concord Corporation had the following transactions during 2022: 1. Issued $190000 of par value common stock for cash. 2. Recorde
sergejj [24]

Answer:

The net cash provided by financing activities -$157,600.

Explanation:

Net cash provided by financing activities refers to the difference between the total cash inflows and total cash outflows from the financing activities section of the cash flow staement.

The net cash provided by financing activities can be calculated by preparing a partial cash flow statement as follows:

Concord Corporation

Net Cash Flow Statement (Partial)

As at December 31, 2022

<u>Details                                                                     Amount    </u>

Par value common stock issued for cash             190,000

Dividend declared and paid in cash                      (15,200)

6-year note payable repaid                                <u>  (334,400)  </u>

Net cash provided by financing activities      <u>   (157,600)   </u>

Therefore, the net cash provided by financing activities -$157,600.

Alternatively, the net cash provided by financing activities can be calculated as follows:

Net cash provided by financing activities = Par value common stock issued for cash - Dividend declared and paid in cash - 6-year note payable repaid = $190,000 - $15,200 - $334,400 = -$157,600

7 0
2 years ago
Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Schell has a
kenny6666 [7]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Schell has a total of $39,060 in overhead.

Direct labor hours:

Standard= 400

Deluxe= 200

Machine hours:

Standard= 4,150

Deluxe= 3,000

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

1) Direct labor hours as allocation rate

Estimated manufacturing overhead rate= 39,060/600= $65.1 per direct labor hour

Now, we can allocate to each product line:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard= 65.1*400= $26,040

Deluxe= 65.1*200= $13,020

2) Machine hour as allocation rate:

Estimated manufacturing overhead rate= 39,060/7,150= $5.46 per machine hour

Now, we can allocate to each product line:

Standard= 5.46* 4,150= $22,659

Deluxe= 5.46*3,000= $16,380

7 0
3 years ago
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