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ElenaW [278]
2 years ago
9

Flax Corp. uses the direct method to prepare its Statement of Cash Flows. Flax's trial balances at December 31, 20X4 and 20X3, a

re as follows: December 31 20X4 20X3 Debits: 33,000 30,000 Cash $35,000 $32,000 Accounts receivable 33,000 30,000 Inventory 31,000 47,000 Property, plant, & equipment 100,000 95,000 Unamortized bond discount 4,500 5,000 Cost of goods sold 250,000 380,000 Selling expenses 141,500 172,000 General & administrative expenses 137,000 151,300 Interest expense 4,300 2,600 Income tax expense 20,400 61,200 $756,700 $976,100 Credits: Allowance for uncollectible accounts $1,300 $1,100 Accumulated depreciation 16,500 15,000 Trade accounts payable 25,000 17,500 Income taxes payable 21,000 27,100 Deferred income taxes 5,300 4,600 8% callable bonds payable 45,000 20,000 Common stock 50,000 40,000 Additional paid-in capital 9,100 7,500 Retained earnings 44,700 64,600 Sales 538,800 778,700 $756,700 $976,100 Flax purchased $5,000 in equipment during 20X4. Flax allocated one-third of its depreciation expense to selling expenses and the remainder to general and administrative expenses. What amounts should Flax report in its Statement of Cash Flows for the year ended December 31, 20X4, for cash paid for goods to be sold?
Business
1 answer:
Anuta_ua [19.1K]2 years ago
6 0

Answer:

the cash paid for goods to be sold is $226,500

Explanation:

The computation of the cash paid for goods to be sold is shown below:

= Cost of goods sold + Opening trade account payable - closing trade account payable + closing inventory - beginning inventory

= $250,000 + $17,500 - $25,000 + $31,000 - $47,000

= $226,500

Hence, the cash paid for goods to be sold is $226,500

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Gulf Coast Tours currently has a weighted average cost of capital of 12.4 percent based on a combination of debt and equity fina
Alex Ar [27]

Answer:

15.36 percent.

Explanation:

WACC= We * Ke + Wd * Kd

Where,

We = Weight of equity

Wd = Weight of debt

Ke = Cost of equity

Kd = Post tax cost of debt = 6.1%

0.124 = (1/1.47)(x) + (0.47/1.47)(0.061)

The right hand side of the equation was solved using the Least common factor method.

O.124 =( X + 0.02867)/1.47

0.124 x 1.47 = X + 0.02867

0.18228 - 0.02867 = X

0.15361 = X

0.1536 × 100

= 15.36

8 0
2 years ago
Wiskurv Inc. is a large electronics supplier that does not rely exclusively on traditional financial measures for organizational
natta225 [31]

Answer: Balanced structure

Explanation:

A balanced structure is basically refers to the balanced sentence where the sentences are made up of equally in the term of length and also properly structure grammatically then the sentence is known as balanced structure.  

According to the given scenario, the Wiskurv Inc. is one of the large electronic organization and this company most likely using the valanced structure for the financial and the operational measuring factors.

Therefore, Balanced structure is the correct answer.

4 0
3 years ago
Sheridan Corp is looking to invest in a three-year bond that makes semi-annual coupon payments at a rate of 5.825 percent. If th
krek1111 [17]

Answer:

The annual YTM will be = 0.063496 or 6.3496% rounded off to 6.35%

Explanation:

The yield to maturity or YTM is the yield or return that an investor can earn on the bond if the bond is purchased today and is held till the bond matures. The formula to calculate the Yield to maturity of a bond is as follows,

YTM = [ ( C + (F - P / n))  /  (F + P / 2) ]

Where,

  • C is the semi annual coupon payment  in case of semi annual bond
  • F is the Face value of the bond
  • P is the current value of the bond
  • n is the number of semi annual periods to maturity  in case of the semi annual coupon bond

Assuming that the face value of the bond is $1000.

Coupon payment - semi annual= 1000 * 0.05825 * 6/12 = 29.125

Number of semi annual periods = 3 * 2 = 6

YTM - semi annual= [ (29.125 + (1000 - 985.63 / 6))  /  (1000 + 985.63 / 2)

YTM - semi annual= 0.031748 or 3.1748% rounded off to 3.17%

The annual YTM will be = 0.031748 * 2 = 0.063496 or 6.3496% rounded off to 6.35%

8 0
2 years ago
A firm's immediate marketing environment differs from its macroenvironment is that the macroenvironment _____
chubhunter [2.5K]

Answer:

The macro environment represent the different external stakeholders who may be indirectly connected to the company

Explanation:A company macro environment represent the bigger picture within which the company is situated .this may include activities in other industries, government regulations and policies foreign markets,etc

5 0
3 years ago
Identify the percent increase in total sales and the percent increase in sales of trench coats. Then find which percent of incre
geniusboy [140]

The percentage increase in the total sales for 2006 is 15% while the increase in sales of the trench coats is 23.3%; therefore the percentage increase in total sales of trench coats is 8.3% faster.

Computation:

1. The total amount of sales for 2006 and 2007:

\begin{aligned}\text{Sales of 2006}&=103+297+210+213+137\\&=960\end{aligned}

\begin{aligned}\text{Sales of 2007}&=127+223+210+285+259\\&=1104\end{aligned}

2. Now, the percentage increase will be determined for the total number of coats and trench coats:

For the total number of coats, the values used will be the total sales of 2006, and total sales of 2007.

\begin{aligned}\text{Percentage Increase}&=\dfrac{\text{Sales of 2007}-\text{Sales of 2006}}{\text{Sales of 2006}}\times100\\&=\dfrac{1104-960}{960}\times100\\&=15\%\end{aligned}

For the trench coats the values used will be the sale of trench coats in 2006 and 2007.

\begin{aligned}\text{Percentage Increase in Sale of Trench Coat}&=\dfrac{\text{Sales of 2007}-\text{Sales of 2006}}{\text{Sales of 2006}}\times100\\&=\dfrac{127-103}{103}\times100\\&=23.33\%\end{aligned}

3. Now, the  net percentage increase in sales due to the trench coats is computed as follows:

\begin{aligned}\text{Net Percentage Change}&=\text{\text{Percentage Increase in Trench Coat}-\text{Percentage Increase}}\\&=23.33\%-15\%\\&=8.3\%\end{aligned}

Therefore, the correct option is option B. Sales of trench coats increased 8. 3 percentage points faster than total coat sales.

To know more about percentages of increase in sales, refer to the link:

brainly.com/question/45525

4 0
2 years ago
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