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Anestetic [448]
2 years ago
13

Marin Company's accounts receivable arising from sales to customers amounted to $88000 and $77000 at the beginning and end of th

e year, respectively. Income reported on the income statement for the year was $334000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
Business
1 answer:
anzhelika [568]2 years ago
5 0

Answer:

Marin Company

Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

$345,000

Explanation:

a) Data and Calculations:

Accounts Receivable (Beginning) $88,000

Accounts Receivable (Ending) $77,000

Increase in Cash received from customers = $11,000

b) Income reported on the income statement for the year = $334,000

Increase in Cash received from Customers =                               11,000

Cash flows from operating activities to be reported =           $345,000

c) The Accounts Receivable reduced from $88,000 to $77,000.  This implied that some customers settled their accounts.  Therefore, there was inflow of cash from customers.  This increases the cash flows from operating activities.  This is why the difference is added to the Income as per income statement as a change in working capital.

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The original cost of the truck was $32,000. What would be the journal entry for Combs Co. to record the disposal of the delivery
Goryan [66]

Answer:

Journal Entry for disposal (or) sale of Truck

Explanation:

  • Truck (asset) sold for cash, bank, or on credit {On loss}  

Cash ac dr (or) Bank ac (or) Debtor ac (Or) ac ... dr  

P & L ac ... dr

to Truck ac ... 32000

  • Truck (asset) sold for cash, bank, or on credit {On gain}  

Cash ac dr (or) Bank ac (or) Debtor ac (Or) ac ... dr  

to Truck ac  ... 32000

To P & L ac

7 0
3 years ago
After graduation, you decide to go into a partnership in an office supply store that has existed for a number of years. Walking
MakcuM [25]

Answer:

257 boxes

Explanation:

The computation is given below;

Daily Demand would be

= 5000 ÷ 365

Standard Deviation = 10 boxes

Lead Time = 2 Weeks + 3 Days = 17 Days

Service Level = 0.98

Reorder Point = avg(d) × LT + z ×  σd × sqrt(LT)

= 5000 ÷ 365 × 17 + 2.05 × 10 × 170.5

= 317

So, the number of boxes should be ordered is  

= 317 - 60

= 257 boxes

6 0
3 years ago
A shoe manufacturer has created a decision tree with costs of different marketing strategies and the two possible outcomes from
DochEvi [55]

Answer:

The probability of each outcome

Explanation:

The probability of an event Bis the number of ways event B can occur divided by the total number of possible outcomes. Also it describes the probability of an event taking place and the chance that the event will occur as a result of an experiment carrier out.

5 0
2 years ago
Below is information from the financial statements of Greenwich Company: Accounts receivable (net) 2016: $2,400 Accounts receiva
ra1l [238]

Answer:

32.44 days

Explanation:

The computation of the average collection period is shown below:

But before that we have to determine the account receivable turnover ratio

So, the account receivable turnover ratio is

= (net sales) ÷ (average of account receivables)

= $25,875 ÷ ($2,400 + $2,200) ÷ 2

= $25,875 ÷ $2,300

= 11.25 times

Now the average collection period is

= Total no of days in a year ÷ account receivable turnover ratio

= 365 ÷ 11.25

= 32.44 days

We assume that the no of days that should be considered is 365 days

7 0
3 years ago
One way of reducing the amount of interest you pay on a loan is to:
zavuch27 [327]
It’s the second one
(Send extra money each month)
Hope this helps!
6 0
3 years ago
Read 2 more answers
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