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mylen [45]
2 years ago
8

Marin Company's accounts receivable arising from sales to customers amounted to $131000 and $114000 at the beginning and end of

the year, respectively. Income reported on the income statement for the year was $498000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is
Business
1 answer:
nekit [7.7K]2 years ago
4 0

Answer:

$481,000

Explanation:

To determine the cash flows from operating activities, the net Income for the year must be adjusted by non - cash items and changes in working capital items.

Therefore, given a decrease in Accounts Receivable $17,000 ($131000 - $114000) . Then the cash flows from operating activities to be reported on the statement of cash flows is $481,000 ($498000 - $17,000) .

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A set of speakers may be purchased now for $1000 or by making a down payment of $150 and additional payments of $100 at the end
victus00 [196]

Answer:

the nominal annual interest rate on the payment plan is 15%

Explanation:

According to the question, a one-time payment for the speakers will cost $1,000

An installmental payment will have a $150 down payment and then another $100 fro ten subsequent months.

Calculating the total payment at tthe end of the payment plan will give

$150 + ($100 x 10months)

we have, $150 + $1,000 = $1,150.

This shows that at the end of the payment plan, the set of speakers would have cost $1,150 instead of $1,00 one-time payment.

Step 2:

To calculate the interest rate, we subtract the one-time price from the payment plan price and express it as a percentage of the one time price to get tthe interest rate.

$1,150-$1,000 = $150

then we have,

($150 ÷ $1,000) × 100%

= 0.15 × 100%

- 15%

The nominal annual interest rate is 15%.

Cheers.

4 0
3 years ago
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