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konstantin123 [22]
2 years ago
9

The ________ method adjusts net income to find net cash provided by operating activities.

Business
1 answer:
Vaselesa [24]2 years ago
4 0

Answer:

indirect

Explanation:

The indirect method adjusts net income to find net cash provided by operating activities.

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Ace Bonding Company purchased merchandise inventory on account. The inventory costs $3,700 and is expected to sell for $6,400. H
snow_lady [41]

Answer:

Ace records the purchase:

Inventory 3,700 Accounts payable 3,700

Explanation:

Ace Bonding Company purchased merchandise inventory on account. The inventory costs $3,700.

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. At that time of purchasing, the company has not sold the merchandise yet. The entry records the purchase:

Debit Inventory $3,700

Credit Accounts payable $3,700

7 0
3 years ago
What were the goals of the truman doctrine and marshall plan?
Colt1911 [192]
The goal was to help rejuvenate Europes among with other countries economic, political, and social status and to build them back up after WWII, not only that but it was more of. Humanitarian deed, to help those in need and to help them rebuild their lives.
3 0
2 years ago
Consider the three mutually exclusive alternatives below. Determine which alternative is preferable at an interest rate of 9% pe
laila [671]

Answer:

a. AW, A($) = 79646

b. AW, B ($) =  29,367

c. AW, C ($) = 80738

Explanation:

Solution:

First of let's sort out the data given for all three alternatives:

Alternative A:

Capital Investment = $400,000

Annual Expense = $189,000

Annual Revenue = $309,000

Salvage Value = $65,000

Life = 24 Years

Alternative B:

Capital Investment = $230,000

Annual Expense = $122,500

Annual Revenue = $222,500

Salvage Value = $180,000

Life = 5 Years

Alternative C:

Capital Investment = $150,000

Annual Expense = $134,000

Annual Revenue = $234,000

Salvage Value = $130,000

Life = 12 Years

a.

AW, A($) = - 400,000 x A/P(9%, 24) + (309,000 - 189,000) + 65,000 x P/F(9%, 24) x A/P(9%, 24)

AW, A($) = - 400,000 x 0.103 + 120,000 + 65,000 x 0.1264 x 0.103

AW, A($) = - 41,200 + 120,000 + 846.25

AW, A($) = 79646

b.

AW, B ($) = -230,000  x A/P(9%, 5) + (222,500 - 134,000)

AW, B ($) = -230,000  x 0.2571 + (222,500 - 134,000)

AW, B ($) =  29,367

c.  

AW, C ($) = - 150,000 x A/P(9%, 12) + (234,000 - 134,000) + 130,000 x P/F(9%, 12) x A/P(9%, 12)

AW, C ($) = - 150,000 x 0.1397 + 100,000 + 130,000 x 0.3555 x 0.1397

AW, C ($) = - 20,955 + 100,000 + 1,692.50

AW, C ($) = 80738

7 0
2 years ago
A group of products within a product class that are closely related because they perform a similar function, are sold to the sam
solniwko [45]

Answer:

Explanation:

Product Line

A product line represents related products under a single brand name produced, grouped and sold by the same company. Organisations use product lines to keep and expand their consumer base by adding products that will appeal to their customers in the same line of products which they are familiar with.

A consumer will always be motivated to buy a complete kit of products in a product line to take care of similar issues such as skin care, face care among others rather than buying different products from different brands to make up a complete kit.

Most product lines are marketed in groups and are placed together to appeal to customers. Specifically, organisations know that consumers will be willing to test new products that are part of the same product line they have known and are used to.

3 0
3 years ago
During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Pur
lilavasa [31]

Answer:

  • June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.              

Merchandise            $7,900  Debit    

Accounts Payable   $7,900  Credit    

     

  • 5 Returned goods costing $3,000 to Diamond Inc. for credit on account.            

Accounts Payable   $3,000  Debit    

Merchandise    $3,000  Credit    

     

  • 6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.          

Merchandise            $1,950  Debit    

Accounts Payable   $1,950  Credit    

     

  • 11 Paid the balance owed to Diamond Inc.          

Accounts Payable   $4,900  Debit    

Merchandise    $98   Credit    

Cash                 $4,802  Credit    

     

  • 22 Paid Club Corp. in full.            

Accounts Payable  $1.950  Debit    

Cash                     $1.950  Credit    

Explanation:

First recorded the journal entry of the purchased merchandise.

  • June 3 Purchased goods for $7,900 from Diamond Inc. with terms 2/10, n/30.              

Merchandise            $7,900  Debit    

Accounts Payable   $7,900  Credit    

When merchandise is returned, we make the opposite entry      

  • 5 Returned goods costing $3,000 to Diamond Inc. for credit on account.            

Accounts Payable   $3,000  Debit    

Merchandise    $3,000  Credit    

 

It's recorded again the journal entry of the purchased merchandise.  

  • 6 Purchased goods from Club Corp. for $1,950 with terms 2/10, n/30.          

Merchandise            $1,950  Debit    

Accounts Payable   $1,950  Credit    

When the balance is paid it's necessary to register de discount availabe becuase the payment was within 10 days, 2/10.      

  • 11 Paid the balance owed to Diamond Inc.          

Accounts Payable   $4,900  Debit    

Merchandise    $98   Credit    

Cash                 $4,802  Credit    

In the case of Club Corp the paid is in full because it's out of the discount period.

  • 22 Paid Club Corp. in full.            

Accounts Payable  $1.950  Debit    

Cash                     $1.950  Credit  

7 0
2 years ago
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