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Sav [38]
2 years ago
11

Rachel's Recordings reported net income of $280,000. Beginning balances in accounts receivable and accounts payable were $15,000

and $22,000 respectively. Ending balances in these accounts were $11,500 and $28,000, respectively. Assuming that all relevant information has been presented, Rachel's cash flows from operating activities would be:___________.
a. $283,500.
b. $270,500.
c. $289,500.
d. $280,000.
Business
1 answer:
saul85 [17]2 years ago
3 0

Answer: c. $289,500

Explanation:

Operating Activity Cashflows = Net Income + Decrease in Accounts receivable + Increase in Accounts payable

= 280,000 + (15,000 - 11,500) + (28,000 - 22,000)

= 280,000 + 3,500 + 6,000

= 289,500

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Managers who have the ability to understand, alter, lead, or control the behavior of others are said to possess ______ skills.
d1i1m1o1n [39]

Answer:

Managers who have the ability to understand, alter, lead, or control the behavior of others are said to possess human skills.

What is Human Skills?

having knowledge about and being able to work with people.

What is Skills?

the ability to use one's knowledge and competencies to accomplish a set of goals and objectives.

skills vs Skills.

skills refers to the general term, while Skills refer to the formal term "Skill Approach"

8 0
2 years ago
Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credi
borishaifa [10]

Answer:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

Explanation:

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after delivery and receive a credit to their accounts. All of Halifax's sales are for credit (no cash is collected at the time of sale). The company began 2021 with a refund liability of $330,000. During 2021, Halifax sold merchandise on account for $11,800,000. Halifax's merchandise costs is 70% of merchandise selling price. Also during the year, customers returned $345,000 in sales for credit, with $191,000 of those being returns of merchandise sold prior to 2021, and the rest being merchandise sold during 2021. Sales returns, estimated to be 3% of sales, are recorded as an adjusting entry at the end of the year.

6 0
2 years ago
Ashton Company uses the perpetual method. The company's inventory account had a $6,600 balance as of December 31, Year 1. A phys
Lunna [17]

Answer:

Decrease Profit and Inventory Asset value as well.

Explanation:

This will Decrease the closing inventory value which will increase the cost of goods, decrease the profit and ultimately decrease the retained earning value in the balance sheet. It also decrease the Inventory value in the current assets section of balance sheet, which will ultimately decrease the total asset value.

7 0
3 years ago
Altoona Corporation has two divisions, Hinges and Doors, which are both organized as profit centers. The Hinge Division produces
Luden [163]

Answer:

Minimum transfer price = $21

Explanation:

<em>Transfer price is the price at which goods are exchange between branches or divisions of the same group</em>

<em>Where  a division is operating at the less than the existing capacity, to optimist the group profit, the minimum transfer price should be set as follows</em>

Minimum transfer price = Variable cost

Note that the fixed of $12 per unit (i.e 33-21) is irrelevant for this purpose, whether or not Hinges produces, it will be incurred either way.

It is worthy of note that there is no opportunity cost associated with any transfer to the Doors division because Hinges is currently having excess capacity.

Therefore, any offering price equal to or above the variable cost of $21 would be acceptable and optimize the group profit.

Hence, the minimum transfer price = $21

3 0
3 years ago
Inception is the initial short step to establish a common vision and basic scope for the project.
exis [7]

Answer:

true

Explanation:

Things to consider in the inception stage are the vision of the project, the feasibility of the project, cost estimate and if the project should be undertaken.

some of the steps taken in the inception stage includes:

the analysis of the critical non-functional  requirement

the creation of a business case,

Preparation for the elaboration phase

8 0
2 years ago
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