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3 years ago

A summary of cash flows for Adventure Travel Service for the year ended April 30, 2019, follows:

Business

1 answer:

zalisa [80]3 years ago

4 0

Answer:

Adventure Travel Service

Statement of cash flows for the year ended April 30, 2019

Cash flow from Operating Activities

Cash receipts from customers $2,080,000

Cash payments for operating expenses ($1,706,000)

Net Cash from Operating Activities $374,000

Cash flow from Investing Activities

Purchase of land ($400,000)

Net Cash from Investing Activities ($400,000)

Cash flow from Financing Activities

Cash receipt from owner as investment $60,000

Drawings ($40,000)

Net Cash from Financing Activities $20,000

Movement in Cash and Cash Equivalents ($6,000)

Beginning Cash and Cash Equivalents $203,000

Ending Cash and Cash Equivalents $197,000

Explanation:

The Statement of Cash flows shows the results of cash from the following sources : Cashflow from Operating Activities, Cashflow from Investing Activities and Cashflow from Financing Activities.

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sattari [20]

Answer:

D) inventory

Explanation:

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Moreover, the recording of the stock is done based on the cost or market value whichever is lower.

In the given question, operation management uses the storage facility. So, the storage facility is used to store the inventory. Here, the storage facility means the warehouse in which the company products are kept for safety measurement.

Thus, all other options are incorrect except D option

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3 years ago

The bank is considering paying interest to customers carrying daily checking account balances in excess of a certain amount. If

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Answer:

If the amount is 1 for example,

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3 years ago

XYZ Company leased equipment to West Corporation under a lease agreement that qualifies as a finance lease to West but not as a

melomori [17]

Answer:

132,000$ will be recorded by west as amortization expense for the year.

Explanation:

Depreciation/amortization is systematic allocation of cost of asset over its useful life. In this case asset cost is not given so we assume that PV of lease payment is equal to market value (660,000 dollars) of asset.

In case of leased asset the useful life taken for calculation of depreciation is lower of 1) Useful life 2) Lease term as per applicable accounting standards.

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3 years ago

By paraphrasing, an individual is:

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By paraphrasing, an individual is:
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3 years ago

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3 years ago