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3 years ago

Pharoah Corporation had the following activities in 2020.

Business

1 answer:

Anastasy [175]3 years ago

8 0

Answer:

-$315,000

Explanation:

Computation for the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows

Sale of land $174,000

Less Purchase of equipment ($426,000)

Less Purchase of available-for-sale debt securities ($63,000)

Net cash provided (used) by investing activities -$315,000

Therefore the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows will be -$315,000

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taxes: a. are unlikely to affect market supply and demand b. are copmulsory payments to governments c. never affect efficiency i

Crank

Answer:

The answer is B.

Explanation:

Taxes are compulsory payment levied by a government of a country. It is not voluntary.

We have direct and indirect tax.

Direct taxes are those taxes that are imposed on individual and company. A company is charged at a rate after its profit is known. An individual earning salary is charged before the salary is collected.

Indirect taxed are those levied on goods and services. These types of taxed are pass on to the consumers in form of price of goods.

Tax is mandatory for everyone. Its a revenue for government

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3 years ago

Gift property (disregarding any adjustment for gift tax paid by the donor): a.Has the same basis to the donee as the donor's adj

Llana [10]

Answer: Has the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.

Explanation:

For a gifted property, it should be noted that the tax basis for a donee that is, the person who gets the gift will be identical to that of the donor, this is, the person that donates the gift in cases whereby the property is gotten as a gift.

Therefore, a gift property disregarding any adjustment for gift tax paid by the donor will have the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.

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3 years ago

"Mrs. Smith operates a business in a competitive market. The current market price is $8.10. At her profit-maximizing level of pr

Molodets [167]

Answer:

Mrs.Smith should continue to operate the business in the short run but shut down in the long run.

Explanation:

According to the shut down rule, at the profit-maximizing positive level of output, a business in a competitive market should continue to operate in the short-term if the price equals to or is greater than the average variable cost, but should shut down in the long term if the price is less than or equal to total cost. Here,

price = $8.10

avg variable cost = $8.00

avg total cost = $8.25

Mrs.Smith should continue to operate the business in the short run but shut down in the long run.

6 0

3 years ago

Read 2 more answers

1. If the price of the share grows as the company grows, how does buying 25 points

Simora [160]

Answer: b. An investor will be able to sell these shares for a higher price and make a profit.

Explanation:

Capital gains are a way to earn a return from owning stock in a company. They involve buying stock at a certain price and then selling the stock when the price increases. The difference between the selling and the buying prices is your capital gain.

This is the benefit to the investor here. If they buy a stock that grows with the company. They will be able to sell at a higher price eventually such that they will make a capital gain.

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3 years ago

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi

seropon [69]

Answer:

Explanation:

The journal entry is shown below:

(A) Sales return and allowance A/c Dr $450,000

To Accounts receivable $450,000

(being returned goods recorded)

Merchandise inventory A/c Dr $292,500 ($450,000 × 65%)

To Cost of goods sold $292,500

(Being cost of goods sold recorded)

The computation of the estimated return is shown below:

= Sale value of merchandise × return percentage - actual return

= $11,500,000 × 4% - $450,000

= $460,000 - $450,000

= $10,000

(B) Sales return and allowance A/c Dr $10,000

To Accounts receivable $10,000

(being returned goods recorded)

Merchandise inventory A/c Dr $6,500 ($10,000 × 65%)

To Cost of goods sold $6,500

(Being cost of goods sold recorded)

The computation of the year-end allowance for sales returns is shown below:

The amount is same $6,500

4 0

3 years ago