Answer and Explanation:
The preparation of the schedule to reconcile the net income to net cash flow from operating activities is presented below:
Cash from operating activities
Net income $24
Adjustment to reconcile
Add: Depreciation expense $11.5
Add: Depletion expense $5.4
Less: Gain on sale of Equipment -$17.5
Add: Loss on sale of land $7.3
Less: increase in account receivable ($292.30 - $228) -$64.30
Add: increase in accounts payable ($177.60 - $165) $12.6
Add: increase in salaries payable ($29 - $24) $5
Add: decrease In prepaid insurance ($18.7 - $14.3) $4.4
Add: Decrease in bond discount ($12.3 - $10.4) $1.9
Add: increase in income tax payable ($24 - $12.4) $11.60
net cash flow from operating activities $4.20
The cash outflow represents in a negative sign while the cash inflow represents in a positive sign
Answer:
$56,000
Explanation:
The computation of the warranty expense for the month of November is shown below:
Warranty expense = Number of printers × Estimated percentage of defectives parts × Average cost per printer
= 20,000 printers × 2% × $140
= 400 × 1460
= $56,000
We simply multiplied the number of printers with the estimated percentage and the average printer cost so that the warranty expense could come
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Answer:
Option C: 8.44 times
Explanation:
Quick ratio(also called as acid test ratio) is the indicator of a company's liquidity position at a very short period which only considers the most liquid assets and ignores Inventory & other assets which cannot be realised immediately.
As we know that Quick Ratio = [Current Assets - Inventory - Prepaid Assets] / Current Liabilities
2.00 = $79,000 - Inventory - 0] / $27,650
=> Inventory = $23,700
Inventory turnover ratio gives us the number of times the company sells and replaces its inventory during the period.
Annual Sales = $200,000
Inventory Turnover Ratio = Sales / Average Inventory
=> $200,000 / $23,700 => 8.44 times
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Hope this helps :)
