Business, 04.08.2021 04:50 haileysolis5
Portions of the financial statements for a company are provided below. Income Statement For the year ended December 31, Year 2 Net sales $1,575,000 Expenses: Cost of goods sold$960,000 Operating expenses 470,000 Depreciation expense 41,000 Income tax expense 31,000 Total expenses 1,502,000 Net income $73,000 Selected Balance Sheet Data December 31 Year 2Year 1Increase (I) or Decrease (D) Cash$93,000 $80,500 $12,500 (I) Accounts receivable 46,900 53,500 6,600 (D) Inventory 66,000 50,500 15,500 (I) Prepaid rent 2,100 3,200 1,100 (D) Accounts payable 36,000 32,500 3,500 (I) Income tax payable 4,100 5,500 1,400 (D) Required: Prepare the operating activities section of the statement of cash flows for the company using the indirect method.
Answers: 3
Business, 22.06.2019 08:00
3. describe the purpose of the sec. (1-4 sentences. 2.0 points)
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Business, 22.06.2019 11:30
When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is
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Business, 22.06.2019 13:30
On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?
Answers: 3
Business, 22.06.2019 18:50
Suppose the government enacts a stimulus program composed of $600 billion of new government spending and $300 billion of tax cuts for an economy currently producing a gdp of $14 comma 000 billion. if all of the new spending occurs in the current year and the government expenditure multiplier is 1.5, the expenditure portion of the stimulus package will add nothing percentage points of extra growth to the economy. (round your response to two decimal places.)
Answers: 3
Portions of the financial statements for a company are provided below. Income Statement For the year...
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