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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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The law of diminishing marginal utility:_______a) allows us to make interpersonal utility comparisons. b) tells us that an addit

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Answer:

A) allows us to make interpersonal utility comparisons.

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3 years ago

Read 2 more answers

_____________ are sunk costs because the company will have to pay the cost no matter production or other variables in operations

Lina20 [59]

Answer:

E. Fixed Costs

Explanation:

Here are the options to this question :

A. Variable Costs

B. Labor Costs

C. Total Costs

D. Raw material Costs

E. Fixed Costs

Sunk costs are costs that have already been incurred and cannot be recovered. They should not be considered when making future economic decisions.

Fixed cost is cost that do not vary with production. e.g. rent

Most companies pay rent per year. if due to unforeseen contingencies, sales and profit of the company declines and the company decides to shut down production, the company has already paid for rent, this amount cannot be recovered even though the company would not be using the space for sometime. So, rent is an example of sunk cost

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3 years ago

Tierney Company begins operations on April 1. Information from job cost sheets shows the following.

a_sh-v [17]

Answer:

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

Explanation:

Calculation for the balance in Work in Process Inventory at the end of each month

April 30 Work in Process Inventory=$6,200+$5,000

April 30 Work in Process Inventory=$11,200

May 31 Work in Process Inventory =$5,000+$ 4,700+$5,600+$7,000

May 31 Work in Process Inventory =$22,300

June 30 Work in Process Inventory= $7,000 + $4,100

June 30 Work in Process Inventory= $11,100

Therefore the balance in Work in Process Inventory at the end of each month will be :

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

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3 years ago

Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or

aivan3 [116]

The representation of the cash flow from firm to household would be the folowing:

The $225 per week Jake earns working for Little Havana
The mojito Latasha receives
Latasha's labor

<h3>What is meant by flow?</h3>

This is the term that is used to refer to the way that income gets to the household. We know that the people of the household are thiose that would go to use their skills in order to do work so that they can earn income for the labor they give out.

Hence we can say that The representation of the cash flow from firm to household would be the following:

The $225 per week Jake earns working for Little Havana
The mojito Latasha receives
Latasha's labor

Read more on cash flow here;

brainly.com/question/735261

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2 years ago

Oriole Company has the following transactions related to notes receivable during the last 2 months of the year. The company does

NikAS [45]

Answer:

See explanation

Explanation:

Nov. 1 Notes receivable - C. Bohr Debit $52,200

Cash Credit $52,200

To record the loan provided to C. Bohr issuing a 7%, 12-month note.

Dec. 11 Notes receivable - K. R. Pine Debit $1,800

Sales revenue Credit $1,800

To record the sales revenue by issuing a 8%, 90-day note.

Dec. 16 Notes receivable - A. Murdock Debit $4,800

Accounts receivable - A. Murdock Credit $4,800

To record the settlement of an open account by issuing a 180-day, 10% note.

Dec. 31 Interest Receivable Debit $681 (Note - 1)

Interest Revenue Credit $681

To record the interest revenue accrued on December 31.

Calculation:

November 1 Interest from C. Bohr = $52,200 × 7% × (2÷12) = $609

December 11 Interest from K. R. Pine = $1,800 × 8% × (20÷90) = $32

December 16 Interest from A. Murdock = $4,800 × 10% × (15 ÷ 180) = $40

Total Interest = $681

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3 years ago