Clarissa earned 8$ for working 3 hours. how many hours will she have to work to earn 16$

A comparative balance sheet for Culver Corporation is presented as follows.

laila [671]

Answer:

Increase in cash = $50,740

Explanation:

The statement of cash flows for 2020 can be prepared as follows:

Culver Corporation

Statement of Cash Flows

For December 31, 2020

Particulars $ $

Net income 127,440

Adjustment to reconcile net income:

Depreciation expenses (w.1) 26,740

(Increase) decrease in current assets:

Increase in accounts receivable (w.2) (15,740)

Decrease in inventory (w.3) 9,260

Increase (decrease) in current liabilities:

Decrease in accounts payable (w.4) (13,260)

Net cash from operating activities 134,440

Cash Flow from Investing Activities

Sales of land (w.5) 39,260

Purchase of equipment (w.6) (59,740)

Net cash from investing activities 20,480

Cash Flow from Financing Activities

Cash dividends paid (63,220)

Net cash from financing activities 63,220

Increase / (Decrease) in cash 50,740

Beginning cash balance 22,000

Ending cash balance  72,740

Workings:

w.1: Depreciation expenses = Accumulated Depreciation in 2020 - Accumulated Depreciation in 2019 = $70,220 - $43,480 = $26,740

w.2: Increase in accounts receivable = Accounts receivable in 2020 - Accounts receivable in 2021 = $83,220 - $67,480 = $15,740

w.3: Decrease in inventory = Inventory in 2020 - Inventory in 2019 = 181220 190480 = -$9,260

w.4: Decrease in accounts payable = Accounts payable in 2020 - Accounts payable in 2019 = ($35,220 - $48,480) = $13,260

w.5: Sales of land = Land in 2019 - Land in 2020 = ($111,480 - $72,220) = $39,260

w.6: Purchase of equipment = Equipment in 2020 - Equipment in 2019 = $261,220- $201,480 = $59,740

7 0

3 years ago

In year 1, X Company recognized an impairment loss on the trade name for its beverage product, reducing the carrying value from

ziro4ka [17]

Answer:

The value of the intangible will remain at $350,000

Explanation:

The reason is that the International Accounting Standard IAS-36 says that once the impairment is recognized for the intangible assets it can not be reversed which means that the amount reported would be $350,000. The reason is that it is very rare that the asset gain its value and specially those which are intangible assets. Most of the management in the 1990s-2000 tried to recognize a gain on impairment which was unjustifiable to increase their profits for the period so the standard specifically didn't permitted gain on a previously impaired asset.

6 0

3 years ago

Which of the following is not true of credit card

grandymaker [24]

. they are the best payment

7 0

3 years ago

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1. Del Gato Clinic's cash account shows a $13,510 debit balance and its bank statement shows $13,575 on deposit at the close of

MakcuM [25]

Answer:

a. Record the adjusting entry related to outstanding checks, if necessary.

No adjusting entry is necessary for recording outstanding checks.

b. Record the adjusting entry related to bank service charges, if necessary.

June 30, 202x, bank fees expense

Dr Bank fees expense 20

Cr cash 20

c. Record the adjusting entry related to Check No. 919, if necessary.

June 30, 202x, adjusting entry for mistake on recording Check No. 919

Dr Cash 9

Cr utilities expense 9

d. Record the adjusting entry related to the June 30 deposit, if necessary.

No adjusting entry is necessary for recording deposits on transit.

6 0

3 years ago

A store that advertises a buy-one-get-one-free sale is

zepelin [54]

Answer:

sales promotions

Explanation:

Sales promotions are the steps taken to increase the purchase of the products by adding an incentive to the customers. Buy-one-get-one-free is one of the sales promotions. Here two products are sold in the cost of one. The customer is provided with the benefit of getting two products by giving the amount of one. It is the promotions in which quantity plays a crucial role.

6 0

3 years ago

Read 2 more answers