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Mars2501 [29]
3 years ago
14

The net decrease in Prepaid Expenses (Prepaid) amounts to $30,000 and the net decrease in Accounts Payable (AP) is $20,000. Assu

ming no inventory provision involved, what is the net effect of Inv and AP on the adjustments to Net Income if the indirect method is used in the Statement of Cash Flows
Business
1 answer:
tester [92]3 years ago
7 0

Answer:

Net decrease in prepaid expenses of $30,000 will be added to the net income in adjustments to net income because it will be considered that working capital (inventory or any other expense) has been generated by the operations.

Net decrease in Accounts payable of $20,000 will be deducted from net income in adjustments to net income because decrease in accounts payable means that cash has been paid to the outstanding payables.

Net effect of the above transactions is $30,000 - $20,000 = $10,000

So, net income will be increased by $10,000 as net effect of the above adjustments.

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Agent Don plans to conduct a marketing/sales event at the local public library on October 28 at 2pm. He received permission to p
kvasek [131]

Answer:

5th Nov is the latest date don could submit a event request.

Explanation:

  • The marketing and sales event can both be organized at the health care. These events can be planned no less than 7 days of the colander before the day of the event. These event can e both formal and informal.
6 0
3 years ago
The farm always comes_______. This is something many feel the general public does not understand unless they came from a farm.
joja [24]

Answer:

First

Explanation:

something many people dont understand is a farm is a business and it always comes first. hope this helps

3 0
3 years ago
What educational background or training did rose lamont need?
rewona [7]
Rose Lamont needed an educational background involving arts and design. She also needs to attend training courses in design, marketing and advertising arts. Without the educational background and the additional training courses, and of course the talent should also be there. 
6 0
3 years ago
Read 2 more answers
eally Great Corporation manufactures industrial−sized landscaping trailers and uses budgeted machine−hours to allocate variable
Anton [14]

Answer:

$7.60 per unit of output

Explanation:

Budgeted output units 51,000 units

Budgeted machine−hours 10,200 hours

Budgeted variable manufacturing overhead costs for 51,000 units $387,600

budgeted variable overhead cost per unit of output = $387,600 / 51,000 units = $7.60 per unit of output

In this case, the applied variable overhead rate = 35,750 units x $7.60 = $271,700, which would have been under-applied since the actual variable overhead costs were much higher, $328,900.

4 0
3 years ago
In January, Hometown Ice Cream Shoppe reported the following balances in their income statement accounts. Based on this informat
Gekata [30.6K]

Answer:

A) Debit of $1,445

Explanation:

Closing entries refers to the balance statements that are entered at the end of an accounting period in order to transfer the temporary account balances into permanent accounts. Based on the balances listed in the question it can be said that the closing entry to retained earnings will be Debit of $1,445. This refers to money going out of the account and can be calculated by adding all the revenue to the account and subtracting the expenses leaving $ - 1,445 thus being debit.

7 0
4 years ago
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