All categories

3 years ago

Ayayai Inc. had the following balance sheet at December 31, 2019.

Business

1 answer:

Mrrafil [7]3 years ago

8 0

Answer:

(a) Increase in cash = $50,200

(b) Total Assets = Liabilities and Stockholders' Equity = $298,900

Explanation:

Note: There are errors as date and name inconsistency in the requirements in this question. The requirements are therefore correctly stated before answering the question as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

The explanation of the answer is now provided as follows:

(a) Prepare a statement of cash flows for the year 2020 for Ayayai Inc.

Note: See part (a) of the attached excel file for the statement of cash flows for the year 2020 for Ayayai Inc.

In the attached excel file, we have:

Increase in cash = $50,200

(b) Prepare the balance sheet as it would appear as of December 31, 2020.

Note: See part (b) of the attached excel file for the balance sheet as it would appear as of December 31, 2020.

In the attached excel file, we have:

Total Assets = Liabilities and Stockholders' Equity = $298,900

Download xlsx

You might be interested in

A vice president of operations wants to evaluate the impact of reducing manufacturing expenses on the firm's return on assets. W

frosja888 [35]

Available Options Are:

a. Cost of Goods Sold

b. Net Profit Margin

c. None of these

d. Asset Turnover

Answer:

Option B. Net Profit Margin

Explanation:

The increase or decrease in cost of Goods sold can not tell whether the return on assets has increased or decreased becuase it would only tell that the expense are decreased or increased not the profit. Which means it only tells one side of the story hence Option A is incorrect.

Option B is correct because it talks about the profit. If the manufacturing cost has been decreased then the it must increase the profit. Because if the profits has increased then the return on asset will increase. Hence the Option B is correct here.

Option D is incorrect because asset turnover formula is:

Asset Turnover = Sales / Total Assets

The decrease in manufacturing cost will not increase the sales because sales and total assets are independent of manufacturing expenses hence the Option D is incorrect.

3 0

3 years ago

Financial statements that give effect to a subsequent event as though the event had occurred at the balance sheet date are known

mojhsa [17]

Answer:

The correct answer to the following question is Pro forma financial statements.

Explanation:

A subsequent event can be defined as an event which takes place after the reporting period, but before the financial statements of a company are issued. And depending on what kind of event they are like additional information or new events, it will be decided whether these events should be disclosed in a company's financial statement or not.

If it is decided that the subsequent event should be disclosed in the company's financial statement then a pro forma financial statement would be made, in which nature and financial effect of the subsequent event should be disclosed.

4 0

3 years ago

An example of a societal ___________ is Germans' lack of interest in using credit cards like Visa and MasterCard, perhaps in par

Sidana [21]

Answer: values

Explanation:

Societal values can simply be defined as the moral principles defined by the traditions, society dynamics, and cultural beliefs.

These values impact on the behavior of the people. An example is Germans' lack of interest in using credit cards like Visa and MasterCard, because the German word for 'debt' is the same as the word guilt. This hae to do with their belief and values.

5 0

3 years ago

How have newer work models made the workplace more efficient?

Lelu [443]

Explanation:

Don't be Afraid to Delegate. While this tip might seem the most obvious, it is often the most difficult to put into practice. ...
Match Tasks to Skills. ...
Communicate Effectively. ...
Keep Goals Clear & Focused. ...
Incentivize Employees. ...
Cut Out the Excess. ...
Train and Develop Employees. ...
Embrace Telecommuting.

8 0

2 years ago

Read 2 more answers

Scoresby Co. uses 3 machine hours and 1 direct labor hour to produce Product X. It uses 4 machine hours and 8 direct labor hours

beks73 [17]

Answer:

Explanation:

The applied overhead will be calculate by the product of the cost diver and the overhead rate:

Cost driver for each product:

Product X 3MH and 1LH

Product Y 4MH and 8LH

Overhead rate:

240 per machine hour

and 160 per labor hour

Product X 3MH x $240 + 1LH x $160 = 880

Product Y 4MH x $240 + 8LH x $160 = 2,240

4 0

2 years ago