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Dmitry_Shevchenko [17]
2 years ago
14

The issuance of notes payable for borrowing is classified in the statement of cash flows as a(n): Multiple Choice Operating acti

vity. Investing activity. Financing activity. Noncash activity.
Business
1 answer:
Harman [31]2 years ago
8 0

The transaction of the issuance of notes payable for borrowing will be classified in cash flows statement as a Financing activities.

Under the statement of Cash-flow, the financing activities section records all transactions that involves long-term liabilities, owner's equity etc.

  • Hence, the transaction of the issuance of notes payable for borrowing will be classified in cash flows statement as a Financing activities.

Therefore, the Option C is correct.

Read more about Cash-flow

<em>brainly.com/question/735261</em>

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Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA:a. Must ha
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a. Must have a good faith belief that the tax return position will be accepted by the IRS.

Explanation:

Certified Public Accountant (CPA) is a term used to refer to the state title of approved accountants in the Uniform Certified Public Accountant Examination. The CPA allows these professionals to issue opinion statements in financial reports, following a few rules. For example, the Tax Services Standards Statement No. 1 states that a basic principle of the provision of tax services that the CPA has is to have a good faith belief that the tax return position will be accepted by the IRS.

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3 years ago
Both the inventory conversion period and payables deferral period use the average daily COGS in their denominators, whereas the
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Explanation:

In business accounting, the inventory conversion period / payables deferral period and average collection period use different inputs due to the fact that Inventory and accounts payable are carried at cost on the balance sheet, whereas accounts receivable are recorded at the price at which goods are sold. Therefore the accounts receivable (average collection period) are attached and dependent on the specific/changing price of the goods sold.

7 0
3 years ago
Cane company manufactures two products called alpha and beta that sell for $225 and $175, respectively. each product uses only o
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Answer:

The special order should be rejected since it decreases net profit.  

Explanation:

Alpha = $225

Beta = $175

total production capacity = 130,000 pounds

raw materials = $6 per pound

Production costs per unit                        Alpha                Beta

direct materials                                          $42                   $24

direct labor                                                 $42                   $32

variable manufacturing overhead            $26                   $24  

fixed manufacturing overhead                 $34                   $37

variable selling expenses                         $31                    $27

<u>common fixed expenses                          $34                   $29  </u>

total cost per unit                                    $209                 $173

Cane expects to sell 114,000 Alphas.

Net profit = (114,000 x $225) - (114,000 x $209) = $25,650,000 - $23,826,000 = $1,824,000

If the new sales order is accepted, Cane's revenue will increase to:

  • 101,000 x $225 = $22,725,000
  • 29,000 x $156 = $4,524,000
  • total = $27,249,000

Their total cost will by:

  • 114,000* x $209 = $23,826,000
  • 16,000 x ($209 - $34 avoidable fixed costs) = $2,800,000
  • total = $26,626,000

*This sale increases the output, but previous costs cannot be avoided.

Net profit with special order = $27,249,000 - $26,626,000 = $623,000

The special order should be rejected since it decreases net profit.  

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