Business, 31.08.2021 21:50 sakurauchiha913

Use the income statement and the list of changes to answer the question. Hopewell Corporation
Income Statement
January 1 to December 31, 2017 amounts in thousands)
Revenue 6400
Cost of Goods Sold (COGS) 1280
Gross Income 5120
Sales, General, & Administrative Expenses (SG&A) 640
Depreciation Expense 1100
Other Expenses 600
Earnings Before Interest & Taxes (EBIT) 2780
Interest 80
Pre-Tax Income 2700
Income Taxes 1080
Net Income 1620
Between January 1 and December 31, 2017:
1. Accounts Receivable decrease by $400,000
2. Accounts Payable decrease by $100,000
3. Gross Property, Plant, & Equipment increase by $7,800,000
4. Long Term Debt increases by $200,000
Assume no other changes What is the Net Cash Flow?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 19:20

Which of the following areas provides residents with close access to high-paying jobs and cultural attractions? a. the suburbs b. exurbs c. rural areas d. the city 2b2t

Answers: 3

Answer

Business, 22.06.2019 19:00

In 1975, mcdonald’s introduced its egg mcmuffin breakfast sandwich, which remains popular and profitable today. this longevity illustrates the idea of:

Answers: 1

Answer

Business, 22.06.2019 19:20

The following information is from the 2019 records of albert book shop: accounts receivable, december 31, 2019 $ 42 comma 000 (debit) allowance for bad debts, december 31, 2019 prior to adjustment 2 comma 000 (debit) net credit sales for 2019 179 comma 000 accounts written off as uncollectible during 2017 15 comma 000 cash sales during 2019 28 comma 500 bad debts expense is estimated by the method. management estimates that $ 5 comma 300 of accounts receivable will be uncollectible. calculate the amount of bad debts expense for 2019.

Answers: 2

Answer

Business, 22.06.2019 21:40

Rebel technology maintains its records using cash-basis accounting. during the year, the company received cash from customers, $43,000, and paid cash for salaries, $23,500. at the beginning of the year, customers owe rebel $1,000. by the end of the year, customers owe $6,600. at the beginning of the year, rebel owes salaries of $5,600. at the end of the year, rebel owes salaries of $3,300. determine cash-basis net income and accrual-basis net income for the year.

Answers: 2

Answer

You know the right answer?

Use the income statement and the list of changes to answer the question. Hopewell Corporation

Questions