Suppose Gulf Shipping Company has the following results related to cash flows for 2019: Net Income of $6,800,000 Increase in Accounts Payable of $500,000 Decrease in Accounts Receivable of $200,000 Increase in Debt of $900,000 Depreciation Expenses of $1,300,000 Dividends Paid of $600,000 Increase in Inventory of $700,000 Purchases of Property, Plant, & Equipment of $8,500,000 Other Adjustments from Financing Activities of -$500,000 Other Adjustments from Investing Activities of $100,000 Other Adjustments from Operating Activities of $800,000 Create a statement of cash flows with amounts in thousands. What is the Net Cash Flow?

Malcolm has several receipts from recent transactions that he entered in his records. the receipts include an atm receipt for an $80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00 when he finishes entering his transactions, malcolm realizes that his balance is incorrect. assuming that malcolm had no beginning balance, what should his correct balance be?

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u.s. parent on bank deposits held in london d. interest received by a u.s. parent on a loan to a subsidiary in mexico e. principal repayment received by u.s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u.s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period