A ______ inventory turnover ratio may result in a reduction in storage and obsolescence costs as well as reduced borrowing.

Blue Spruce Corp. reported net income of $194,740 for 2022. Blue Spruce Corp. also reported depreciation expense of $36,900 and

Svetlanka [38]

Answer:

Blue Spruce Corp

Statement of Cash Flows for the year ended December 31, 2022

Operating activities section:

Net income $194,740

add non-cash flow items:

Depreciation expense 36,900

Loss on disposal of plant assets 54,030

Adjusted operating income $285,670

Working capital changes:

Increase in accounts receivable (15,650)

Increase in accounts payable 15,880

Increase in prepaid expenses (4,250)

Net cash from operating activities $281,650

Explanation:

a) Data and Calculations:

Reported 2022 net income = $194,740

Depreciation expense = $36,900

Loss on disposal of plant assets = $54,030

Increase in accounts receivable = $15,650

Increase in accounts payable $15,880

Increase in prepaid expenses $4,250

b) The operating activities section is one section of the Statement of Cash Flows. It shows the cash inflows and outflows from Spruce's normal business activities. Other sections of Spruce's Statement of Cash Flows that show activities outside operating activities are the investment activities section and financing activities.

7 0

2 years ago

Advertisements for CL brake products, True spark plugs, AM chassis parts, and Stone wheels featured in Tire Review, a journal fo

statuscvo [17]

Answer:

Advertisements for CL brake products, True spark plugs, AM chassis parts, and Stone wheels featured in Tire Review, a journal for owners/operators of auto shops, are examples of business-to-business advertising.

Explanation:

This statement is perfect example of business to business advertising, where we direct of all our media and marketing efforts directly towards other businesses which are our target customers, not the daily household consumers. That's why we have follow a totally different approach here. All of the products which have been mentioned here in this statements are industrial products which are further used in the manufacturing of some other products therefore, their target customers are the other business who will be using these products in their final finished products.

8 0

2 years ago

Justin just started his first post-college job at bigchem, incorporated. part of his benefit package is a defined benefit plan t

tatiyna

His pay in the end will be 108,050

7 0

2 years ago

Read 2 more answers

To partially eliminate the problems that are associated with the short-term focus of return on investment, residual income, and

levacccp [35]

To partially eliminate the problems that are associated with the short-term focus of return on investment, residual income, and EVA, the performance of a division's major investments is commonly evaluated through (E) post audits.

<h3>What are post audits?</h3>

The post-audit procedure establishes a formal process (feedback) for assessing whether existing initiatives should be continued, extended, or discontinued.
That is, the post-audit gives useful information that can be used to fix problems before an investment's performance is jeopardized.
The purpose of the post-audit review process is to ensure that management has addressed all of the recommendations given in the Audit Report.
The Post-Audit Review occurs shortly after the agreed-upon implementation deadline, which management committed to in the management response.

Therefore, to partially eliminate the problems that are associated with the short-term focus of return on investment, residual income, and EVA, the performance of a division's major investments is commonly evaluated through (E) post audits.

Know more about post audits here:

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7 0

1 year ago

Our company makes sophisticated lenses for satellite cameras. We allocated our overhead (OH) costs using practical equipment mac

ser-zykov [4K]

Answer:

If we made the switch, our OH rate would be closest to: $30.40 per MH

Explanation:

Overhead Rate is used to allocate manufacturing overheads (indirect costs) to jobs and departments.

In our senario Overhead rate are used to allocate fixed manufacturing overheads to production of lenses for satellite cameras.

Overhead Rate = Budgeted Overheads / Budgeted Activity

= $760,000/ 25,000

= $30.40 per practical equipment machine hour

5 0

2 years ago