Answer:
1. Cash will increase by $18,700 for the services to be rendered over the 12 months.
2. Cash will reduce by $64,000 for the legal service acquired.
3. No effect on cash as the transaction is on accounts.
4. Cash will decrease by $1,250 for the supplies purchased.
5. Cash will decrease by $6,000 for the dividends paid.
6. Cash will decrease by $20,000 due to operating expenses
7. no effect on cash
8. no effect on cash.
Explanation:
The business transactions recorded by Hart, Attorney at Law, These transactions have impact on the cash. The inflow and outflow of cash is recorded in the cash flow statement. Transaction no. 3, 7 and 8 will have no effects on cash balance of the company.
Answer:
The correct answer is $800
Explanation:
Giving the following information:
Fulbright Corp. uses the periodic inventory system.
Fulbright made the following purchases (listed in chronological order of acquisition):
· 40 units at $100
· 70 units at $80
· 170 units at $60
Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.
Ending inventory= [(100 + 80 + 60)/3]*10
Ending inventory= 80*10= $800
Answer:
Total= $ 321.25
Explanation:
Giving the following information:
Each surfboard consists of 30 separate parts totaling $ 155 direct materials and requires 3 hours of machine time to produce.
Materials handling: Number of parts $ 3.75 per part
Machining: Machine hours $ 2.00 per machine hour
Assembling: Number of parts $ 1.50 per part
Packaging: Number of finished units $ 2.75 per finished unit
Total manufacturing cost:
Direct materials= 155
Materials handling=$ 3.75* 30= $112.5
Machining: $ 2.00*3= 6
Assembling: $ 1.50*30= 45
Packaging: $ 2.75
Total= $ 321.25
Answer:
$2,100,000
Explanation:
Given:
Profit generated = $100,000
Profit growth rate = 5% per year
Discount rate = 10% per year
Now,
The present value of the future profit can be calculated using the formula as:
Present value = 
or
Present value = 
or
Present value = $2,100,000
The present value of all the shop's future profits will be $2,100,000
