Which account is used to reduce assets for the amount of estimated bad debts?.

Southeast Systems has the following balance sheet and the income statement. The company had 10 million shares of common stock ou

solong [7]

Answer:

1) net cash flow from financing activities:

Dividends paid ($2,000,000)

Net cash flow from financing activities ($2,000,000)

No new stocks were issued, nor any new long term debt was taken.

2) total increase in cash from 2013 to 2014 was $50,000,000

there are two ways to calculate this:

ending balance of cash account 2014 - ending balance of cash account 2013 = $100 - $50 = $50 million

cash flow from operating activities = $52 + $$50 + $100 - $100 - $50 = $54

cash flow from investing activities = $0

cash flow from financing activities ($2)

net cash increase = $50 million

Explanation:

Southeast Systems Balance Sheets

2013 2014

Cash $50 $100

Accounts receivable 600 700

Inventory 500 550

Net fixed assets 1,000 1,000

Total Assets $2,150 $2,350

Accounts payable $450 $500

Notes payable 300 400

Long-term debt 650 650

Common equity 300 300

Retained earnings 450 500

Total Liabilities & Owner’s Equity $2,150 $2,350

Income Statement 2014

Sales $2,370

Cost of goods sold 2,070

Depreciation 200

EBIT 100

Interest expenses 20

Taxable income 80

Taxes 28

Net income $52

Dividends $2

4 0

4 years ago

Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,800 of dir

-Dominant- [34]

Answer:

$11,700

Explanation:

The computation of the balance in the work in process at the end of the month is shown below:

= Direct material cost + direct labor cost + manufacturing overhead cost percentage of direct labor cost

= $1,800 + $3,300 + $3,300 × 200%

= $1,800 + $3,300 + $6,600

= $11,700

We simply added the direct material cost, direct labor cost and the manufacturing overhead cost so that the ending balance could arrive

5 0

3 years ago

In the context of organizational behavior, _____ stressed the value of participative management. henri fayol peter drucker adam

Ray Of Light [21]

Henri Fayol stressed the value of participative management. Henri Fayol's administration hypothesis is a straightforward model of how administration communicates with the work force. Fayol's administration hypothesis covers ideas extensively, so any business can apply his hypothesis of administration. Today the business group considers Fayol's established administration hypothesis as a significant manual for profitably overseeing staff.

7 0

3 years ago

Assume U.S. and Swiss investors require a real rate of return of 3%. Assume the nominal U.S. interest rate is 6% and the nominal

DanielleElmas [232]

Answer:

Option E

Explanation:

Assume U.S. and Swiss investors require a real rate of return of 3%. Assume the nominal U.S. interest rate is 6% and the nominal Swiss rate is 4%. According to the international Fisher effect, the franc will appreciate by about 2% .

6 0

3 years ago

Read 2 more answers

Early in January, the following transactions were carried out by Maxwell Communications. Sold capital stock to owners for $35,00

Rina8888 [55]

Answer:

Part a

Assets Liabilities Owners Equity

Balances $308,250 $108,250 $200,000

Part b

Transaction # Assets Liabilities Owners Equity

1 + $35,000 (Cash) nill + $35,000 (Capital)

2 + $35,000 (Land) +67,500 (Note Payable) nill

+ $55,000(Buildings)

- $22,500 (Cash)

3 + $9,500 (Office Equi) + $9,500 (Acco Payable) nill

4 +$20,000 (Cash) +$20,000(Note Payable) nill

5 - $22,250 (Cash) -$20,000(Acco Payable) nill

Explanation:

Hi, I have attached the full question below as images.

Part a

Here simply calculated the totals of Assets, Liabilities and Owners Equity at December 31.

Part b

Remember for every transaction, there are two or more accounts affected. To find the effect of transactions, the first step is to identify the the Accounts affected and the amounts to effect these accounts. Determine if the Account is being increased or decreased. Lastly record the effect as required under the Element of Assets, Liabilities and Equity.

4 0

3 years ago