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3 years ago

The income statement of Pharoah Company is shown below.

Business

1 answer:

Alexus [3.1K]3 years ago

8 0

Answer and Explanation:

The preparation of the operating activities section of the statement of cash flows for the year ended December 31, 2020 is presented below;

Cash flow from operating activities

Net income $1,580,000

Add: depreciation expense $58,970

Add: decrease in account receivable $313,770

Less: Increase in prepaid expense -$167,640

Less: Decrease in account payable -$279,000

Less: decrease in accrued expense payable -$124,020

Add: Decrease in inventory $380,000 ($1,880,000 - $1,500,000)

Cash flow provided by operating activities $1,762,080

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Journalize the following five transactions for Nexium & Associates, Inc. Omit explanations.March 1 - Bills are sent to clien

emmasim [6.3K]

Answer: Please find answers in explanation column

Explanation:

Journal entry for Nexium & Associates

1.Journal to record Services provided in February.

Date Account Debit Credit

March 1 Accounts receivable $800

Service revenue $800

2.Journal to record purchase of furniture and supplies on account.

March 9 Office furniture $1,060

Office supplies $160

Accounts payable $1,220

3.Journal To record payment made to suppliers, Corner Office Inc.

March 15 Accounts payable $1,220

Cash $1,220

4.Journal To record the bill of electricity for march which is not yet due to be paid till April.

March 23 Electricity expense $430

Outstanding Liabilities $430

5.Journal To record the salary payment to employees.

March 31 Salaries expense $850

Cash $850

3 0

4 years ago

A 10-year (zero-coupon) Treasury bill with face value of $100 per share is selling at $70.89 per share. There is a 10-year corpo

olga55 [171]

Answer:

3.5%

Explanation:

the yield to maturity of a zero coupon bond is calculated using the following formula:

YTM = (face value / current market value)¹/ⁿ - 1

YTM = ($100 / $70.89) ¹/¹⁰ - 1 = 3.5%

the way you can check if your calculations were correct is to find the future value of the bond using the YTM = $70.89 x (1 + 3.5)¹⁰ = $99.997 ≈ $100

7 0

3 years ago

What is the steps to make a pencil

Art [367]

Step One: The wood is softened and cut into slats called "pencil stock" or "pencil squares."

Step Two: A wax and stain are applied and the slats are passed under a cutting wheel.

Step Three: The grooves in the slat are filled with a special elastic glue for the lead.

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3 years ago

A teacher instituted a new reading program at school. after 10 weeks in the program, it was found that the mean reading speed o

Bess [88]

Answer:

0.0139

Explanation:

Given that:

The number of sample (n) = 21

The sample distribution has mean (μ) and a standard deviation of σ/√n

The z score is given as (x - mean)/ standard deviation

x = 94.8 wpm, let us assume that σ = 10 and μ = 90

Therefore: z = (x - μ) / (σ/√n) = (94.8 - 90) / (10/√21) = 2.2

To calculate the probability using Z table:

P(X>94.8) = P(Z>94.8) = 1 - P(Z<94.8) = 1 - 0.9861 = 0.0139

The probability is low that is less than 0.05, the program is more effective than the old one.

5 0

3 years ago

Read 2 more answers

When a nation removes a tariff on a product, this policy action rev: 06_20_2018 Multiple Choice benefits domestic producers of t

Ray Of Light [21]

Answer:

benefits consumers of the product.

Explanation:

Import tariffs are generally put in place to protect domestic producers from foreign producers. Tariffs benefit domestic producers but hurt consumers since they are forced to pay higher prices.

When the import tariffs are withdrawn, the domestic price of the goods should decrease, benefiting consumers.

4 0

3 years ago