Explanation:
A pitchbook is confidential document. It is basically a sales document, used by the sales force, which contains main features or attributes of the firm, the potential of the firm and the future aspects of the firm in detail.
So keeping the given question in mind, I would write to my supervisor as follows:
Subject: Assistance Required
Body:
Dear Sir,
By reviewing the whole document finally, which is to be presented to the client tomorrow, I found some mistakes in the results. I came to know that the results are incorrect and are surely needed to be corrected before the presentation.
I recommend you to delay the meeting for 3 hours by the scheduled time, as i need to check and correct the whole figures again and this would take time.
I am looking forwards for your advice.
Best Regards
Entry to close the income summary account at the end of the year:
At the time of closing the Income Summary account, the Income Summary account is debited and Retained earnings account is credit with the amount of Net Income. Net Income can be calculated as follows:
Net income = Revenue – Expenses = 201,000-111,700 = $89,300
Hence the entry to close the income summary account at the end of the year shall be as follows;
Income Summary Debit $89,300
Retained earnings Credit $89,300
Answer:
B) General Fund and Library Fund
Explanation:
Major funds are those that include revenues, assets, expenditures and liabilities that account for at least 10% of all the government funds.
In this case the total government funds = $26,300,000
so 10% of total funds = $26,300,000 x 10% = $2,630,000
only the general fund ($18,400,000 ≥ $2,630,000) and the library fund (2,900,000 ≥ $2,630,000) are higher than the 10% threshold.
Answer:
Net cash flow from operating activities
$1,599,000
Explanation:
Pharoah Company
Cash flow from operating activities :
Net income $1,300,000
Net Cash flow from operating activities:
Add depreciation $208,000
Add accounts receivable decreased $455,000
Less accounts payable decreased ($364,000)
Net cash flow from operating activities $1,599,000
