Acquiring a government job based on political loyalty, without regard to ability, is called <span>political patronage.
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On July 15, there is pending 6000 on the cash account.
Then on July 20, Cajon Co. returns the merchandise of 1000, so the pending cash decreases and now it is only 5000.
Afterwards, on July 24, Cajon paid for the merchandise. Since the credit terms is 2/10, 2 percent discount will be given if they paid within 10 days. So 5000 multiplied by . 02 = 100. 5000 - 100 = $4900 is the amount of cash received.
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performance
Answer:
Operating cash receipts minus operating cash payments equals net cash provided (used by) operating activities.
Explanation:
A statement of cash flows is also known as cash flow statement and it is a financial statement which is used to illustrate how changes in income and various account of the balance sheet affect cash and cash equivalents.
The statement of cash flows is also used by financial experts or accountants to breakdown the cash-flow analysis into;
1. Cash-flow from financing activities: it represents the cash flow from debt or equity. Typically, it's the costs used in a financing a business.
2. Cash-flow from investing activities: it represents the cash flow from investment such as proceeds from the sale of plant, equipments, etc.
3. Cash-flow from operating activities: it represents cash-flow and transactions from operational business activities such as employee salary, sales of goods, etc.
In Financial accounting, the direct method of reporting operating cash flows uses actual cash inflows and outflows from the operating activities of a company by generating data from the income statement (cash receipts and cash disbursements/payments).
Hence, when the operating activities section of the statement of cash flows is reported using the direct method; operating cash receipts minus operating cash payments (disbursements) equals net cash provided, that is typically used by operating activities.
