Answer:
Their net operating income for the year was $39,628
Explanation:
Flip or Flop's net operating income for the year = Gross revenue - Cost of Goods Sold - Operating expenses
Their Cost of Goods Sold (COGS) was 21% of gross revenue, therefore:
Cost of Goods Sold = 21% x $93,200 = $19,572
The company has operating expenses for this same period of $34,000.
Net operating income for the year = $93,200 - $19,572 - $34,000 = $39,628
D to limit the amount of financial loss if there is an illness or injury
The <u>NOT Photo parallel lineup</u> is the most commonly used type of lineup in police departments. these types of lineup are advantageous in that they <u>allow the witness to see the foils in person</u>.
Answer and Explanation:
The preparation of the operating activities section is presented below:
Cash flows from operating activities
Net income $374,000
Adjustments made
Add: Depreciation $44,000
add: Amortisation expanses $7,200
Add: Accounts receivable decrease $17,100
Add: Inventory decrease $42,000
Less: Prepaid expense increase -$4,700
Less: Accounts payable decrease -$8,200
Add: Wages payable increases $1,200
Less: Gain on sale of machinery -$6,000
Net cash provided by operating activities $466,600
Answer:
All net income, less all dividends, since the company began operations.
Explanation:
Retained Earnings are the retained profits that the company keeps with itself, for meeting any case of emergency or for growing company and thus, meeting the growing expenses.
Each year when company earns profits and then, it distributes its profits in the form of dividends, the balance remaining after paying the dividends is added to retained earnings.
Thus, the entire balance of these kind of profits not paid anywhere else and also not utilized is called retained earnings.
