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iragen [17]
3 years ago
14

Selected Balance Sheet Information

Business
1 answer:
goldenfox [79]3 years ago
5 0

Answer:

$47,000

Explanation:

Computation for the net cash flows from operating activities using the indirect method.

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income $28,000

Adjustments to reconcile net income to

Net cash provided by operating activities

Depreciation expense $15,000

Increase in Accounts Receivable -$2,500 ($8,000-$10,500)

Decrease in inventory $3,000

($21,000-$18,000)

Increase in accounts payable $5,000

(15000-10000)

Decrease in income taxes payable -$1,500 ($1,000-$2,500)

Net cash flows from operating activities $47,000

Therefore the net cash flows from operating activities using the indirect method is $47,000

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I feel the answer is B I really hoped this helped have an amazing day
6 0
3 years ago
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All of the following are true regarding implied agreements EXCEPT which one?
Brrunno [24]

Answer:

An implied agreement is based on a formal agreement.

Explanation:

A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.

There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implied contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.

Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.

Simply stated, mutual assent connotes agreement, acceptance and consent to a contract by both parties.

An implied contract can be defined as an informal contract that exists based on an assumption or understanding between two or more parties, rather than on terms that are formally and specifically defined.

This ultimately implies that, an implied agreement is not based on a formal agreement but on assumptions or understanding between the parties involved.

4 0
3 years ago
Yeloe Corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cos
guajiro [1.7K]

Answer:

a.

Explanation:

Cash (400*40)              Dr.$16,000

Loss on sale of stock investments (400*40-400*600  Dr.$8,000

Stock Investments  (400*60)                                          Cr.$24,000

As the stock was sold $20 below its purchase price therefore $20*400 will be recorded as loss on investments.The loss on investments and Cash will be debited and investments have decreased therefore credited.

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3 years ago
One factor that allows saudi arabia to successfully use strategic trade protectionism to increase oil revenues is that?
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Nations are unable to react by placing limitations on other imports from Saudi Arabia.

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To learn more about Strategic Trade
brainly.com/question/17102390
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5 0
1 year ago
Misk Co. purchased the following securities during 2018 to be classified as held-to-maturity securities, trading securities, or
shtirl [24]

Answer:

C. III only

Explanation:

Option III states An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?

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4 0
3 years ago
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