HELP PLEASE, THIS IS TIMED!!!!!!

Portions of the financial statements for Parnell Company are provided below. PARNELL COMPANY Income Statement For the Year Ended

Pepsi [2]

Answer:

Prepare the cash flows from operating activities section as follows :

Cash Flows from Operating Activities

Income before tax 172,000

Adjustments of Non- Cash Items :

Gain on sale of building ( 12,000)

Depreciation 127,000

Loss on sale of equipment 11,000

Adjustments of Changes in Working Capital :

Increase in Accounts Receivables (120,000)

Decrease in Inventory 116,000

Decrease in Prepaid insurance 34,000

Increase in Accounts payable 105,000

Increase in Salaries Payable 21,000

Increase in Deferred tax liability 12,000

Decrease in Bond discount (22,000)

Net Cash flow from Operating Activities 444,000

Explanation:

Indirect Method Adjust the Net Income before tax with movements in working capital items and non-cash items included in income statements.

3 0

3 years ago

Victoria is a top executive working with the managers in the major divisions of a multinational corporation to develop their own

fredd [130]

Answer:

The answer is B

Explanation:

Top-down management or leadership which happen or occurs when the goals, objectives, tasks and projects are determined or evaluated among the firm or the company senior leaders, generally independently of their teams.

So, in this case, top executive working with the managers in order to develop or create their own goals. This approach is known as the top down leadership.And under this the tasks, projects are then communicated to the teams.

5 0

3 years ago

Cruiseline offers nightly dinner cruises off the coast of Miami, San Francisco, and Seattle. Dinner cruise tickets sell for $

sertanlavr [38]

Answer:

a. Contribution margin per passenger ($50-$20) = $30

b. Contribution margin ratio (30/50) = 60%

c. Operating Income (390000-270000) = $120,000

d. Operating Profit = $42,000

Explanation:

a. Contribution formula = Sale - Variable Cost

Sale price per passenger = $50

Variable Cost per passenger = $20

Contribution margin per passenger ($50-$20) = $30

b. Contribution Margin ratio formula = Contribution/Sale

Sales per passenger = 50

Contribution per passenger = 30

Contribution margin ratio (30/50) = 60%

c. Operating profit = Contribution margin- Fixed Cost

Monthly sale total for 13000 passenger

Sale per passenger = $50

Total sale for 13000 passenger 13000*50 = $650,000

Contribution Margin per passenger =$30

Total Contribution margin for 13000 passenger = 13000*30 = $390,000

Less: Fixed Cost = 270,000

Operating Income (390000-270000) = $120,000

d. Contribution margin formula= (Sale x Contribution margin ratio)

Contribution margin = (520000*60%) = $312,000

Less: Fixed Cost = 270,000

Operating Profit = $42,000

3 0

3 years ago

Read 2 more answers

A manufacturing firm is deciding whether to invest in a new printer that needs an initial investment of $150,000. This will incr

AnnyKZ [126]

Yes the firm should the 1 percent decrease of the capital won’t effect too much. So yes.

3 0

3 years ago

Before considering a net operating loss carryforward of $74 million, Fama Corporation reported $210 million of pretax accounting

balu736 [363]

Answer:

correct option is $37 million

Explanation:

given data

net operating loss = $74 million

pretax accounting and taxable income = $210 million

income tax rate = 38%

reducing the rate = 27%

to find out

Fama's income tax payable for the current

solution

we know here net taxable income that is express as

net taxable income = pretax accounting and taxable income - net operating loss ...................1

put here value we get

net taxable income = 210000 - 74000

net taxable income = $136000

and tax is here = 27 % of $136000

tax = 0.27 × $136000

tax = $36720 = 37000

So correct option is $37 million

7 0

3 years ago

HELP PLEASE, THIS IS TIMED!!!!!!​

HELP PLEASE, THIS IS TIMED!!!!!!