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3 years ago

Use the following information to determine this company's cash flows from financing activities.

Business

1 answer:

ludmilkaskok [199]3 years ago

7 0

Answer: Net cash used/ spent was $193,000

Explanation:

Cash from Financing activities involves cash transactions in relation to Equity (including dividends paid) and long term debt as these are the chief providers of cash to finance the business.

Cash from financing activities is:

= Issuance of common stock - Dividend - Settlement of Note payable - Treasury stock purchase

= 73,000 - 18,000 - 130,000 - 118,000

= -$193,000

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Jeremy is a business student at ABC University. He is currently enrolled for 18 credits, mostly of quantitative courses with hig

kenny6666 [7]

Answer: work overload

Explanation:

From the question, we are informed that Jeremy is a business student at ABC University and that he is currently enrolled for 18 credits, mostly of quantitative courses with high workloads.

We are further told that he also works 25 hours a week as a bartender. This shows that Jeremy has many works he's doing and the likely cause of his stress is work overload. He's performing too much tasks.

5 0

4 years ago

What was the ratio of per capita income in each of the following countries to that in the United States in the year 2010:

svet-max [94.6K]

Answer:

For Countries (per capita) United States of America (per capita)

Ethiopia:

$380 $48,468

Mexico:

$9,271 $48,468

India:

$1,358 $48,468

Japan:

$44,508 $48,468

Explanation:

Ratio per Capita also known as Gross Domestic Product per Capita (GDP Capita) is the monetary measure of the market value of all the final goods and services produced in a specific time period within the country in view. It is useful for comparing national economies of different countries on the international market.

3 0

3 years ago

James McDowell Co. establishes a $102,000,000 liability at the end of 2020 for the estimated site-cleanup costs at two of its ma

grin007 [14]

Answer:

Task a:

Deferred tax asset = $40,800,000

Deferred tax liability = $20,400,000

Task b:

Indicate how the deferred taxes computed in (a) are to be reported on the balance sheet.

Note: Please see the attachments for the balance sheet*

Task c:

Assuming that the only deferred tax account at the beginning of 2017 was a deferred tax liability of $10,000,000, draft the income tax expense portion of the income statement for 2017, beginning with the line "Income before income taxes."

Please see the attachments for the Income statement*

Explanation:

Determine the deferred taxes to be reported at the end of 2017.

Deferred tax asset

Deferred tax asset = $102,000,000 × 40%

Deferred tax asset = $40,800,000 (answer)

Deferred tax liability

Deferred tax liability = $51,000,000 × 40%

Deferred tax liability = $20,400,000 (answer)

Indicate how the deferred taxes computed in (a) are to be reported on the balance sheet.

<h2>Explanation:</h2>

Deferred tax asset

When income tax expense is smaller than income tax payable as a result of deducting any non-cash expenses in accounting books, some income tax expense is deferred to the future.
The larger income tax payable on tax returns creates a deferred tax asset, which companies can use to pay for deferred income tax expense in the future.
Deferred tax assets may be presented as current assets if a temporary difference between accounting income and taxable income is reconciled the following year.

Deferred tax liability

When income tax expense is greater than income tax payable as a result of no recognition of any noncash revenues in tax returns, some income payable is deferred to the future.
The smaller income tax payable on tax returns creates a deferred tax liability, which companies must meet by paying any deferred income tax payable in the future.
Deferred liabilities may be presented as current liabilities if a temporary difference between accounting income and taxable income is reconciled the following year.

Note: The balance sheet extract is attached:

Note: The income statement extract is attached:

Note: The relevant working also attached

4 0

3 years ago

An aging of a company's accounts receivable indicates that $3,000 are estimated to be uncollectible. If Allowance for Doubtful A

vodomira [7]

Answer: The correct answer is b. debit to Bad Debts Expense for $1,800.

Explanation: The company adopts the aging bad debt method on receivable. The aging method is a way of classifying receivables as uncollectible based on the length of time the receivables have been outstanding and the probability of recoverability of such receivables.

To make a provision for bad debt expense: debit is passed to bad debt expense while credit is passed to allowance for doubtful accounts. The bad debt expense reports to the income statement while allowance for doubtful accounts reports to the balance sheet (statement of financial position). Based on the question, the allowance for doubtful accounts has a credit balance of $1,200; however, $3,000 was estimated to be uncollectible. In order to restate the amount to $3,000, we need to debit bad debt expense and credit allowance for doubtful accounts with $1,800 ($3,000 - $1,200).

7 0

4 years ago

If there are more than two counteroffers, an agent/broker should:

prisoha [69]

start from scratch and rewrite the contract

3 0

3 years ago