Answer:
Rent expense of $2,000
Prepaid rent of $22,000
Explanation:
Since we were told that On November 1,2019 Movers Inc., paid the amount of $24,000 for a 2 years' rent which will start or begin on November 1 which means Movers' year-end financial statements as of December 31,2019 will show:
Rent expense of $2,000
Prepaid rent of $22,000
The rent expense of $2,000 is calculated as
(1÷12*$24,000)=$2,000
The prepaid rent of $22,000 is calculated as
$24,000-$2,000
$22,000
<span>This reflects upward mobility and globalization. It also reflects a tendency by Wesley and his father to follow in their fathers' footsteps and choose a similar (in this case agricultural) career path. It reflects upward mobility because farming your own land is more prestigious and profitable that being a sharecropper, comparing Wesley's father to his grandfather's situation; and owning and international dairy company is more prestigious and profitable than owning one farm. Wesley's role in the world market also represents globalization, as this global market was likely not open to his father or grandfather.</span>
Answer:
$2,730,000
Explanation:
Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.
These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income
The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:
Cash flow from Operating activities - Indirect method
Net income $2,500,000
Adjustment made:
Add : Depreciation expense $160,000
Add: Decrease in accounts receivable $350,000
Less: Decrease in accounts payable -$280,000
Total of Adjustments $230,000
Net Cash flow from Operating activities $2,730,000
Answer:
payback 5 years
if the ltaer years cash flow increases several times, it would not affect the payback date. This is a disavantage of this method, it is focus on recover the investment without considering the total cash flow of the project.
Explanation:
Payback = the time in the life of a project on which the initial ivnestment is recover.
-31,000 Balance
Year 1 2,000 - 29,000
Year 2 0 - 29,000
Year 3 8,000 - 21,000
Year 4 9,000 - 12,000
Year 5 12,000 0
At year 5 the proejct achieve payback
Answer:
Adjusted balance = $23,387
Explanation:
Franklin Company
Bank Reconciliation statement
Bank balance as of August 31 $21,837
Add: Deposit in transit <u> $ 7,350</u>
$29,187
<u>Less: Outstanding check $(5,800)</u>
Adjusted cash balance $23,387
Cash balance as of August 31 $22,662
Add: Collection of Note receivable <u> $ 870</u>
$23,532
<u>Less: Bank service charge $( 145)</u>
Adjusted cash balance $23,387
