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Alex777 [14]
2 years ago
11

he complete list of items needed to prepare a statement of cash flows includes ______. Multiple choice question. current year ba

lance sheet, comparative income statements, and additional data concerning accounts in investing and financing activities comparative balance sheets, retained earnings statement, and additional data concerning accounts in investing and financing activities comparative balance sheets, complete income statement, and additional data concerning accounts in investing and financing activities current year balance sheet, comparative income statements, and the retained earnings statement
Business
1 answer:
krok68 [10]2 years ago
4 0

The complete list needed to prepare the cash flows statement includes comparative balance sheets, income statement and additional data on investing and financing activities.

In accounting, the statement of cash-flow is a statement that calculate the amount of cash and cash equivalents that comes and leaves the company.

  • The section of the statement of cash-flow are divided into the operating activities, investing activities and financing activities.

Hence, the list of items needed to prepare the cash flows statement includes the comparative balance sheets, income statement and the additional data on investing and financing activities.

Read more about statement of cash-flow

brainly.com/question/735261

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On April 1, Lewis Company paid $14,400 for two years of insurance in advance. Lewis Company recorded the transaction by debiting
Dominik [7]

Answer:

31 Dec       Expense A/c Dr.                      $5,400

                         To Prepaid Expense A/c                   $5,400

(Therefore, expense for the current financial year recorded)

Explanation:

We know that at the time of insurance paid in advance on 1 April for 2 years, entry was;

Prepaid Insurance A/c Dr.            $14,400

                 To Cash A/c                                      $14,400

Now at year end the expense relating to current period shall be recognized properly in the books, so that matching principle of revenue against expenses shall be matched.

Thus, period from 1 April to 31 December = 9 months

Expense for 9 months = 14,400 \times \frac{9}{24} = 5,400

That means expense for the year = $5,400

Therefore, entry for such recording will be:

31 Dec       Expense A/c Dr.                      $5,400

                         To Prepaid Expense A/c                   $5,400

(Therefore, expense for the current financial year recorded)

6 0
3 years ago
Rediger Inc., a manufacturing Corporation, has provided the following data for the month of June. The balance in the Work in Pro
Lilit [14]

Answer:

The cost of goods manufactured for June was $139,000

Explanation:

The cost of goods manufactured for June was shown below:

= Opening work in progress + direct material cost + direct labor cost + manufacturing overhead cost applied to work in progress  - ending work in progress

= $22,000 + $55,000 + $28,000 + $51,000 - $17,000

= $139,000

The actual manufacturing overhead cost is irrelevant as it is not related to the work in progress that's why it is not be considered in calculation part.

Hence, The cost of goods manufactured for June was $139,000

5 0
3 years ago
Why are both non excludability and non rivalry important elements of public goods?
USPshnik [31]
Because all people ( the public ) can fully enjoy this good/service without competing for it.
7 0
3 years ago
Which of the following statements is​ TRUE? A. By INCREASING the number of payments per​ year, you BOOST your total cash outflow
dolphi86 [110]
B I’ve seen the question before
6 0
3 years ago
The production department of Priston Company has submitted the following forecast of units to be produced by quarter for the upc
Levart [38]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

1st Quarter -  2nd Quarter - 3rd Quarter - 4th Quarter

Units to be produced: 6,000 - 7,000 - 8,000 - 5,000

the beginning raw materials inventory= 3,600

Each unit requires three pounds of raw material that costs $2.50 per pound. Management desires to end each quarter with a raw materials inventory equal to 20% of the following quarter

I will assume that the requirements are the cost of direct material for each quarter.

<u />

<u>The direct material budget is calculated by the following formula:</u>

Direct material budget= direct material for production + ending inventory - beginning inventory

Q1:

Production= (6,000*3)*$2.5= $45,000

Ending inventory= [(7,000*3)*$2.5]*0.20= $10,500

Beginning inventory= (3,600*2.5)= (9,000)

Total= $46,500

Q2:

Production= (7,000*3)*$2.5= $52,500

Ending inventory= [(8,000*3)*$2.5]*0.20= $12,000

Beginning inventory= (10,500)

Total= $54,000

Q3:

Production= (8,000*3)*$2.5= $60,000

Ending inventory= [(5,000*3)*$2.5]*0.20= $7,500

Beginning inventory= (12,000)

Total= $55,500

8 0
3 years ago
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