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san4es73 [151]
3 years ago
5

Royal Corporation uses the indirect method of computing net cash flow from operating activities and reported the following for Y

ear 2: Accounts receivable decreased by $10,300, merchandise inventory increased by $15,300, accounts payable decreased by $4,000, and income taxes payable increased by $18,800. If Royal Corporation reported net income for Year 2 of $157,800 (including $34,800 of depreciation expense), net cash flow from operating activities for Year 2 is:
Business
1 answer:
d1i1m1o1n [39]3 years ago
4 0

Answer:

$202,400

Explanation:

The computation of the net cash flow from operating activities for year 2 is shown below:

= Net income + depreciation expense + decrease in account receivable - increase in merchandise inventory - decrease in account payable + increase in income tax payable

= $157,800 + $34,800 + $10,300 - $15,300 - $4,000 + $18,800

= $202,400

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Answer:

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5 0
3 years ago
Ned is a head of household with a dependent son, Todd, who is a full-time student. This year Ned made the following expenditures
UNO [17]

Answer: D. $600 included in Ned's medical expenses

Explanation:

The amount that Ned can include in his itemized deductions will be the $600 that's included in Ned's medical expenses.

It should be noted that the medical expenses will be under the itemized deductions. On the other hand, the other options will be under the miscellaneous itemized deductions. Therefore, the correct option is D.

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3 years ago
Which statement best describes the Federal Deposit Insurance Corporation's (FDIC) requirements for auditor independence
Margarita [4]

Every organization has its own rules. The statement that best describes the Federal Deposit Insurance Corporation's is that The FDIC has issued policy statements that address auditor independence in various contexts.

  • Independence in auditing needs integrity and an objective way in all audit process. It also requires the auditor to perform his or her task freely and in a focused way.

The Independence of the internal auditor is simply known as the freedom  from parties or people whose interests can be harmed by the outcomes of an audit.

See full question below

Which statement best describes an element of the Federal Deposit Insurance Corporation's (FDIC) requirements for auditor independence?

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FDIC independence requirements mirror the AICPA and DOL independence rules.

The FDIC has issued policy statements that address auditor independence in various contexts.

The FDIC has adopted regulations that incorporate IESBA independence rules.

Previous question

6 0
3 years ago
Sharon purchases two products with a given fixed budget, orange juice and soda. Her marginal utility from orange juice is 60 and
yuradex [85]

Answer:

Sharon is trying to maximize her marginal utility under the fixed budget.

Explanation:

She is buying exactly twice as many orange juices than sodas, because her marginal utility from juice is twice as much as her marginal utility from soda (60 x 30).

She is considering the marginal utility above the price when making her purchase decisions, because while orange juice provides more utility, it is also more expensive than sodas ($2.00 per bottle vs $1.00 per bottle).

3 0
4 years ago
Regarding relevant nonfinancial​ information, which of the following statements is​ incorrect? A. Managers must always consider
liubo4ka [24]

Answer:

D.

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Based on the information provided it can be said that the most incorrect statement is that Qualitative factors can be ignored because these factors are difficult to measure. Both qualitative and quantitative measures need to be taken into account, especially qualitative in a non-financial situation because the quality aspects of the items carries with it a far greater importance.

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3 years ago
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