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Sav [38]
3 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]3 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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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
gayaneshka [121]

Answer:

(a) FIFO cost $ 17,510.00  includes 20 units @ $63.00 per unit and 250 units @ $ 65.00 per unit.

(b) LIFO cost $ 15,900.00  includes 115 units @ $53.00 per unit, 135 units @ $63.00 per unit and 20 units @ $65.00 per unit.

(c) Weighted average cost $ 16,838.76 includes 270 units @ $62.37 per unit.

(d) Specific identification cost $ 16,240.00 includes 85 units @ 53.00 per unit, 30 units @ 58.00 per unit, 40 units @  63.00 per unit and 115 units @65.00 per unit.

3 0
3 years ago
Demand-pull inflation is caused by: An increase in aggregate supply. An increase in resource costs as an economy's production ca
frosja888 [35]

Answer:

Excessive aggregate demand in relation to an economy's production capacity.

Explanation:

  • The demand and the pull is the upward movement in the prices that follows a shortage in supply.  As per the economists, they describe it as the too many dollars that are followed by too few goods.  
  • Thus when the combined demand in the economy strongly is outweighed by the combined supply and thus the prices tend to go up. Hence the excessive increase of the demands pulls up the production capacity.
5 0
3 years ago
Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation
jarptica [38.1K]

Ryan's Sparkling Jewels estimated its payroll for the coming year to be $84,000. Its workers' compensation insurance premium rate of 0.6% is paid at the beginning of each quarter required: Calculate the estimated cost of workers' compensation insurance for the year.

Answer:

$504 per year

$126 per quarter

Explanation:

workers' compensation insurance = payroll x insurance rate.

$84,000 x 0.6%

$84,000 x 0.006 = $504 per year

$504 ÷ 4 = $126 per quarter

5 0
3 years ago
Jamison Company has the following obligations at December 31: For each obligation, indicate whether it should be classified as a
Rashid [163]

Answer:

Explanation:

The current liability is that liability in which the obligation is arise for one year or less than one year.

So, the categorization is shown below:

a. A note payable for $100,000 due in 2 years. = It is not a current liability as it is due in 2 years that come under the long term liability

b. A 10-year mortgage payable of $300,000 payable in ten $30,000 annual payments. = Current liability for first annual payment only and rest is consider to be long term liability

c. Interest payable of $15,000 on the mortgage. = Current liability as it is arise within one year

d. Accounts payable of $60,000. = Current liability as it is arise within one year

The current liability is shown on the liabilities side of the balance sheet.

7 0
3 years ago
Inacio Corporation uses the weighted-average method in its process costing system. Data concerning the first processing departme
e-lub [12.9K]

Answer:

Inacio Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.50

Explanation:

a) Data and Calculations:

                                                        Units    Materials    Conversion

Beginning work in process           2,300     $14,400      $6,500

Percentage of completion                              75%           20%

Units started during the month   11,000

Total units available                     13,300

Units transferred to the next       9,900      100%         100%

Ending work in process               3,400        90%          30%

Costs added during the month               $173,500    $243,500

Equivalent units of production:

                                                          Units    Materials        Conversion

Units transferred to the next       9,900      9,900 (100%)   9,900 (100%)

Ending work in process               3,400       3,060 (90%)     1,020 (30%)

Equivalent units of production                   12,960             10,920

Costs of production:                   Materials  Conversion

Beginning work in process           $14,400      $6,500

Costs added during the month    173,500    243,500

Total costs of production           $187,900  $250,000

Cost per equivalent unit:             Materials  Conversion

Total costs of production            $187,900  $250,000

Equivalent units of production       12,960        10,920

Cost per equivalent unit               $14.50       $22.89

7 0
3 years ago
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