What does standard of living measure?

Giblin Corporation earned $9,700 of service revenue on account during Year 1. The company collected $8,245 cash from accounts re

Ainat [17]

Answer and Explanation:

The computation is shown below:

a. The balance in the account receivable is

= $9,700 - $8,245

= $1,455

b. The amount of the net income is equivalent to the service revenue earned i.e. $9,700

c. The net cash flow from operating activities is

Net income $9,700

Less; increase in account receivable -$1,455

Net cash flow from operating activities $8,245

d. The retained earnings is equivalent to the amount of the net income i.e. $9,700

5 0

3 years ago

Which of the following statements explain(s) how the accounting equation applies to businesses? Check all that apply. A. The equ

Levart [38]

Answer:

A, E

Explanation:

The accounting equation states that Assets is the sum of the company's equity and liabilities where assets are the resources owned by the company. Equity refers to the resource the business owes the owners while liabilities are what the creditors (third parties) are owed by the business or company. These items are the elements that make up a company's balance sheet. For the balance sheet to be balanced;

Asset must equal the total of the liabilities and equity. Hence option A is right as well as E. Option B is not right as there are transactions that may be recorded between some elements of the balance sheet and those of the P/L. For instance, training cost incurred by the business paid with cash is between an asset and an expense. For option C, Revenue - Expense gives profit and not assets. The later part of the option is however true. Option D for the same reason as C is also not true.

6 0

3 years ago

You are given the following information concerning two stocks that make up an index.

ExtremeBDS [4]

Answer:

111

Explanation:

Given that,

Beginning index value = 100

Beginning value:

= Kirk, Inc. + Picard Co.

= (No. of shares outstanding × Price per share)

= (40,000 × $38) + (28,500 × $73)

= $1,520,000 + $2,080,500

= $3,600,500

Ending value:

= Kirk, Inc. + Picard Co.

= (No. of shares outstanding × Price per share)

= (40,000 × $42) + (28,500 × $81)

= $1,680,000 + $2,308,500

= $3,988,500

Index level at the end of the year:

= (Ending value ÷ Beginning value) × Beginning index value

= ($3,988,500 ÷ $3,600,500) × 100

= 1.11 × 100

= 111

5 0

3 years ago

An assembly line with 15 tasks is to be balanced. The longest task is 2.9 minutes, and the total time for all tasks is 17 minute

zavuch27 [327]

Answer:

Minimum ⇒ 2.9 minutes
Maximum ⇒ 17 minutes

Explanation:

Minimum cycle time ⇒ This is the time taken for the longest task to be completed. In this case that is 2.9 minutes.

Maximum cycle time ⇒ This is the time taken for all the tasks to be completed. In this case that is 17 minutes.

6 0

3 years ago

John's job provided the main income for his family. He died unexpectedly and had no life insurance. The probable financial conse

Leto [7]

Answer:

An increase in income and expenses

Explanation:

When the main provider of a family dies and he/she doesn't have any type of life insurance, then the whole family's economy will suffer. Their total income will probably plummet. Besides losing John's income, his family must all the expenses related to his death, e.g. burial. As a terrible consequence, John's family will see their standard of living decrease.

8 0

3 years ago