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3 years ago

How many of the following transactions are operating activities?

Business

1 answer:

Lady bird [3.3K]3 years ago

6 0

Answer:

The correct answer are A, B and D

Explanation:

Operating activities are the one of three activities of the cash flow, these activities are those which are incurred for the business and are directly related to providing its services or goods to the market. These are the core business activities of the company like selling service, manufacturing, distributing and marketing.

The following are the transactions of operating activities:

1. Paid the utility bill amounts to $750

2. Purchased supplies for $12,000

3. Borrowed from bank amount of $50,000

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budgets that are revised by adding a new quarterly budget to replace the quarter that just elapsed are called:

Natali [406]

Budgets that are revised by adding a new quarterly budget to replace the quarter that has just elapsed are called rolling budgets.

<h3 /><h3>What is rolling budget?</h3>

It corresponds to a more flexible and adaptable type of budget, generally used for companies whose business can be more volatile.

It is used continuously and extended, being updated during the period for the addition of new variables in the existing model. This being valid for use in the future budget.

Any type of budget is a necessary tool for organizations to be able to plan the use of their resources in a structured way that is consistent with their needs and objectives.

Therefore, a continuous or rolling budget helps companies adapt to trends, risks and characteristics of a dynamic market that is constantly changing.

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6 0

1 year ago

Gwen had $463.24 in her checking account, and a check that she wrote to her landlord for $470.00 was just deposited. this will r

kenny6666 [7]

I beleive it is

A. Overdraft fee

4 0

3 years ago

On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20

Leni [432]

Answer:

The amount of cash received on January 24 is $3332

Explanation:

The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.

The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400

The discount received will be = 3400 * 2% = $68

Thus, the cash received on January 24 will be 3400 - 68 = $3332

6 0

4 years ago

Mount Company incurred a total cost of $8,600 to produce 400 units of pulp. Each unit of pulp required 5 direct labor hours to c

Sophie [7]

Answer:

The correct answer is option (B).

Explanation:

According to the scenario, the given data are as follows:

Total cost = $8,600

Total units = 400 Units

Direct labor hour per unit = 5

Variable cost = $1.50

So, we can calculate the fixed cost by using following formula:

Fixed cost = Total cost - Total Direct labor cost

Where, Total direct labor cost = $1.50 × 5 × 400 = $3,000

By putting the value in the formula, we get

Fixed cost = $8,600 - $3,000

= $5,600

5 0

3 years ago

Open a general journal for the City of Monroe Community Foundation Trust Fund and record the following transactions for the year

ICE Princess25 [194]

Answer:

The beginning part of the question is found below:

The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017:

Debits Credits

Cash $49,500

Accrued Interest Receivable $7,500

Investments in Corporate Bonds $750,000

Net Assets Held in Trust $807,000

Totals $ 807,000 $ 807,000

Find below the necessary journal entries in the explanation section:

Explanation:

The interest received =6%*$750,000*6/12=$22,500

Dr Cash $22,500

Cr Interest income(balance) $15,000

Cr Accrued interest receivable $7,500

Additional funds of $205,500 received:

Dr Cash $205,500

Cr donation income $205,500

the investment of $200,000 in corporation stock

Dr investment in corporation stocks $200,000

Cr Cash $200,000

receipt of half of the year annual interest on bonds(as calculated above at $22,500)

Dr cash $22,500

Cr Interest income $22,500

cash is debited when there is an inflow and credited in case of outflows

The investment account is debited because it is an asset

8 0

4 years ago