Answer:
$8,870
Explanation:
Calculation to determine the balance in the allowance for doubtful accounts after bad debt expense is recorded
Using this formula
Balance in the allowance for doubtful accounts=
(Credit sales* Percentage of Credit sales)+Allowance for doubtful accounts credit balance
Let plug in the formula
Balance in the allowance for doubtful accounts= ($458,000*1.5%)+$2,000
Balance in the allowance for doubtful accounts=$6,870+$2,000
Balance in the allowance for doubtful accounts=$8,870
Therefore the balance in the allowance for doubtful accounts after bad debt expense is recorded will be $8,870
bruce lovegren who was born on september 27, 1950. on april 27 1977 he purchased a 15,000 ten year term life insurance policy
A 10-year term life insurance policy provides coverage for ten years. During this time, the insured's premium remains unchanged. The insurance coverage will expire after ten years.
As a result, your insurance will expire. Furthermore, the policy's death benefit coverage expires at the conclusion of the term. Because term life insurance does not have a cash value like whole life or universal life insurance, it is frequently not possible to cash out a term life insurance policy. A term life insurance policy is designed to provide coverage for a set period of time, often 20 or 30 years. As a result, term life insurance assures death payments with stable premiums for a period of 10 to 40 years.
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fill in the blanks: When building a recruiting strategy, building relationships with top sales talent at other companies is _____, while building relationships with high-performing business development reps at other companies is _____.
O a short-term strategy, a long-term strategy
O a long-term strategy, a short-term strategy
O an ideal strategy, usually a mistake
O a good primary tactic, a good secondary tactic
When building a recruiting strategy, building relationships with top sales talent at other companies is a short-term strategy, while building relationships with high-performing business development reps at other companies is a long-term strategy.
A comprehensive business plan with goals for the future is called a long-term strategy. During this cycle, you're laying out and finishing objectives to accomplish an all-encompassing objective for the organization. You can set a number of smaller goals to help you achieve your ultimate goal in order to develop a long-term strategy.
What are the business's long-term strategies?
Either through proactive, long-term strategic planning or natural (or organic) sales growth, small businesses can expand. Diversification, acquisitions, expanding distribution channels, and improved financial management practices are all options for strategies.
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FILL IN THE BLANK in macroeconomics, ____ denotes the relationship between the total quantity of goods and services and the price level for output.
In macroeconomics, aggregate demand (AD) denotes the relationship between the total quantity of goods and services and the price level for output.
Given a fixed input price, what connection does the total supply indicate?Assuming that the price of inputs remains constant, aggregate supply (AS) refers to the link between the overall amount and price level of output that businesses choose to generate.
What term is used in this situation to describe the greatest amount that an economy can produce?The maximum amount of products and services that an economy can produce at its peak efficiency, or when it is operating at capacity, is known as potential output. Potential output is frequently referred to as the economy's production capacity.
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Compiled lists, which are lists purchased from list vendors, typically offer the lowest response rate, so experts suggest using numerous sources, merging them on the computer with mail-response and house lists, and then purging them of duplicate names.30 Direct-mail lists can be bought or rented.
Experts advise combining a variety of sources, merging them on a computer with mail-response and home lists, and then clearing them of duplicate names because compiled lists, which are lists bought from list vendors, often have the lowest response rate. Direct-mail lists can be rented or purchased 30. true
A computer is a machine that may be programmed to carry out a number of logical or mathematical operations automatically. Programs—generalized sets of operations—can be run on modern digital electronic computers. These programs enable computers to do a range of jobs. A computer system is a presumably completely working computer that includes all necessary hardware, an operating system, and any supplemental hardware. A group of linked computers that function as a single entity, such as a computer network or computer cluster, may also fall under this definition. Numerous industrial and consumer products employ computers as control systems.
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Experts advise combining a variety of sources, merging them on a computer with mail-response and home lists, and then clearing them of duplicate names because compiled lists, which are lists bought from list vendors, often have the lowest response rate. Direct-mail lists can be rented or purchased 30. true
A computer is a machine that may be programmed to carry out a number of logical or mathematical operations automatically. Programs—generalized sets of operations—can be run on modern digital electronic computers. These programs enable computers to do a range of jobs. A computer system is a presumably completely working computer that includes all necessary hardware, an operating system, and any supplemental hardware. A group of linked computers that function as a single entity, such as a computer network or computer cluster, may also fall under this definition. Numerous industrial and consumer products employ computers as control systems.
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The economy moves from point A, where it produces 100 units of X and 200 units of Y, to point B, where it produces 200 units of X and 150 units of Y. It follows that
a)point A is a productive inefficient point.
b)point A may be a productive inefficient point.
c)point A may be a productive efficient point.
d)point B is a productive efficient point.
e)b and c
Option E, B and C (point A may be a productive inefficient point; point A may be a productive efficient point.) Because economy of a technical advancement, more of good X can be produced with less labor.
The economy could be able to produce more things through inefficient means without employing any more capital. Production Efficiency vs. Inefficiency Inefficient productive occurs when production elements are distributed in contrast to comparative advantage. Because the economy can generate more of at least one productive thing with the use of available economy resources and technology, points that are strictly below the frontier or curve are inefficient. Points on the frontier or curve are productive.
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What factors contributed to novartis’s invoice processing being so complex?. How did IT help the company solve that problem?
The factors contributed to Novartis's invoice processing being so complex is that:
The majority of the company's invoices come from foreign vendors, thus there are variations in their layout, language, taxes, and currency. As a result, a lot of them became "query items" that needed to be manually resolved by Novartis accounting personnel. This caused payments to be delayed and made processing those invoices very expensive.Describe the firm Novartis?They are provider of healthcare. It is a corporation that offers services all over the world. Novartis must cope with a staggering variety of various languages and currencies because it is a global corporation. Due to the need to provide invoice processing in accordance with each member's currency and language while keeping cohesion, it becomes extremely complicated.
Therefore, the intricacy of the invoicing is mostly due to the disparity in currencies; hence, frequent currency conversion is already necessary.
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what should my cover letter look like
A cover letter is a special kind of letter that is enclosed with other letters and describes the contents of the other documents. Consider a cover letter that is included with a resume.
How does a Cover Letter Look Like?Below is a sample of a cover letter:
4th January, 2024.
The Human Resource Manager,
Bliss Experience,
Atlanta 3033,
Dear Human Resource Manager,
Application for Associate Role
I am excited to see the opening for the role of an associate marketer. I am a dynamic marketer with years of experience in digital marking and affiliate marketing.
If I am chosen for this role, I will bring in my professionalism and ability to work with teams in providing clear cut solutions for client of Bliss Experience.
Kindly find attached to this letter, my Cover Letter for your perusal.
Yours Faithfully,
Samuel Wonderful.
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office supplies purchased by janer's cleaning service on account were returned. which of the following entries for janer's cleaning service records this transaction?
Office supplies purchased by Janer's Cleaning Service on account were returned. Debit Accounts Payable; credit Office Supplies is the entries for Janer's cleaning service records this transaction.
What exactly is a payable account?Accounts payable (AP) is the term used to describe the unpaid balances owed to suppliers or vendors for products or services supplied. The accounts payable balance on the balance sheet of the business represents the total of all unpaid sums owing to vendors.
What use does accounts payable serve?The financial, administrative, and clerical support of a business is handled by the accounts payable department. They are in charge of tracking the company's short-term debts, paying vendor invoices or bills, and making payments the company owes to suppliers and other creditors.
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The government of country B has relaxed immigration policies. Which of the following is likely to be a consequence of this policy?
A. There would be an increase in the labor force and an increase in the long-run aggregate supply.
B. There would be a decrease in the labor force and a decrease in the long-run aggregate supply.
C. There would be an increase in the labor force and a decrease in the long-run aggregate supply.
D. There would be a decrease in the labor force and a decrease in the short-run aggregate supply.
E. There would be an increase in the labor force and a decrease in the short-run aggregate supply.
The consequence of the policy is There would be an increase in the labor force and an increase in the long-run aggregate supply.
Hence, the correct option is A
Moving to a new area with the purpose of settling down and residing there is known as immigration. Many other causes might influence a person's decision to immigrate, including career possibilities, the need to flee a dangerous situation, environmental considerations, a desire for education, or the desire to be near family.Let's start by examining the four different categories of immigration status that are available: citizens, residents, non-immigrants, and undocumented. The following is a description of each status's attributes. These individuals are either American citizens by birth or those who have completed the three- or five-year "naturalization" process.To know more about Immigration here
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in this example, what is the unconditioned stimulus (ucs), unconditioned response (ucr), conditioned stimulus (cs), conditioned response?
In classical conditioning, an unconditioned stimulus (US or UCS) is defined as any stimulus that can naturally and automatically trigger a response without prior learning or practice.
Which one better describes a stimulus?Anything that can cause a bodily or behavioral change is a stimulus. The word stimulus is pluralized as stimuli. External or internal stimuli are both possible. Your body's reaction to a medication is an illustration of an external stimulus.
Why is stimulation used?Major Takeaways. A stimulus package is a planned initiative to boost government spending while lowering taxes and interest rates in an effort to boost the economy and pull it out of a slump or depression.
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_____happens when investors try to take advantage and profit from situations
where two identical or nearly identical assets have different rates of return
Arbitrage happens when investors try to take advantage and profit from situations.
The phenomenon that occurs when investors try to take advantage and profit from situations where two identical or nearly identical assets have different rates of return is known as arbitrage. Arbitrage is essentially a risk-free investment strategy that involves taking advantage of a price discrepancy between two or more markets.
In this type of transaction, an investor buys the asset in one market at a lower price, then immediately sells it in another market at a higher price, resulting in a risk-free profit. This type of transaction requires very fast and efficient execution to ensure that the price discrepancy remains and that the profit is realized.
As such, arbitrage is often used by sophisticated investors and financial institutions, as it requires deep knowledge of the markets and the ability to act quickly.
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behavioral pitfalls and constraints: could affect our goal achievement do not affect our goal achievement guarantee goal achievement are the ease with which we can achieve our goals
The achievement of our goals may be hampered by behavioral pitfalls and limits.
What exactly are behavioral traps, exactly?A tendency to discount or dismiss information that challenges one's ideas in favor of knowledge that backs up those assumptions. For instance, when researching an investment, an investor could unwittingly look for information that supports his or her beliefs and overlook data that presents opposing ideas.
When achieving goals, one might avoid behavioral pitfalls by
- Making a plan in the "if-then" style.
- Creating a detailed plan that is concrete
- Creating a plan with actionable steps.
What are the shortcomings of behavioral economics?As was previously said, behavioral economics is quite good at spotting biases. However, it only employs a few techniques, mostly people observing and, to some extent, questioning. When we try to understand repercussions occurring in a matter of seconds or less, behavioral mapping is frequently ineffective, and self-reports are frequently unreliable.
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economist(s) thought that government should stay out of economic decisions, that the economy should be guided by the forces of supply and demand alone
Keynes supported governmental intervention in times of economic upheaval. He argued in "General Theory" that economies are intrinsically unstable and that public spending and policy must be increased in order to achieve full employment.
What should the government do, according to Keynes, to support the economy?In the long term, we are all going to die, as he put it, so governments should deal with problems now rather than waiting for the market to fix them afterwards. Keynesians oppose making frequent changes to policy to maintain full employment.
Which school of thought in economics claims that the only way to increase economic growth is to reduce rules and taxes?The supply side philosophy contends that the government should focus on increasing economic output by reducing taxes and regulations rather than trying to regulate the economy by controlling wages and prices. In the end, it considers market mechanisms to be the best means of ensuring everyone's prosperity.
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Answer:
Adam Smith
Explanation:
As a supporter of Smith's theories you are most likely to feel the government should not drastically change its policies when faced with an economic crisis and that, eventually, the problems will resolve themselves through market forces (supply and demand).
What is the main purpose of a cover letter?
To introduce yourself and summarize your background, qualifications, and interest in a job.
To set up an interview and give employers your contact information.
To introduce yourself and explain your start date and planned vacation for the year.
To set up dates and times for interviews or introduction calls with the employer.
Equipment was acquired on January 1, 2024, for
$24,000
with an estimated four-year life and
$1,000
residual value. The company uses straight-line depreciation. Which of the following entries would be used to record the sale of the equipment for
$7,300
on December
31,2026?
Cash$7,300
Depreciation Added Up $10,875
24 000 $ for equipment
Briefing:-Gain $875
Annual Depreciation = (24,000-$1,000)/4 = 5750
Depreciation over time equals 5750 x 3 to 17250.
24000/17250 Equals 6750 in terms of book value.
Gain on sale: (7,300 - 6,750) = 550
Definitions and examples of equipmentAn item that can be touched and used for many years, equipment is a physical long-term asset that helps a firm. Equipment includes things like computers, vehicles, and industrial machines. They are physical objects, unlike intangible assets (such patents, trademarks, or copyrights) which lack a physical form, making them tangible.
What kinds of equipment are there?agricultural machinery equipment list for agriculture.
audio apparatus.
camping supplies.
financial machinery.
equipment for cricket.
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Suppose the Economics Department has a graduation party for its students but as a final test they must show they have learned something about trade. The men are given food when they walk in and the women are given drink. Suppose they have very different preferences where food and drink provide utility. For men U = F^a D^b. For women U=min(F, D) The contract curve in the Edgeworth box using a representative man and woman would be O a right angle connecting the lower left corner with the upper right corner.
O a curve (not necessarily a line) connecting the lower left corner with the upper right corner. O a line connecting the lower left corner with the upper right corner. O a right angle connecting the upper left corner with the lower right corner
linking the lower left and upper right corners with a curve (not necessarily a line).
Which of the following does not, in the short run, define perfect competition?A trait of perfect competition is not product differentiation. The traits of perfect competition are price-taking, buyer freedom of entry and exit, and a sizable number of buyers and sellers.
Is perfect competition effective and beneficial in the near term?Perfect markets are not always efficient or productive in the near term. But as new businesses enter the market, long-term productive efficiency is attained. Price and cost are lowered to the minimum of typical long-term costs as a result of increased competition.
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Seamus had $16,000 of net short-term capital loss in 2019. In 2020, he has $17,000 of long-term capital loss and $26,000 of long-term capital gain. Which of the following statements is correct? O Seamus had a $13,000 short-term capital loss carryover to 2020.
O Seamus reports an overall $9,000 net capital gain in 2020. O Seamus reports an overall $4,000 net short-term capital loss in 2020. O Choices a, and
Seamus had a $13,000 carryover short-term capital loss to 2017 and a $4,000 overall short-term capital loss in 2017.
What takes place in the event of a capital loss?You can deduct some income in your tax return by using capital losses to reduce capital appreciation within a taxable year. You may deduct up to $3,000 of ordinary income from a capital loss each year if if don't have any capital appreciation to offset it.
Are losses on investments beneficial?Additionally, wise investors are aware that, depending on the circumstance, capital losses may be more advantageous than gains. Taxpayers will not save as much money from long-term capital losses as they will from short-term capital losses.
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Colliers, Inc. has 105,000 shares of cumulative preferred stock outstanding. The preferred stock pays dividends in the amount of $3 per share, but because of cash flow problems, the company did not pay any dividends last year. The board of directors plans to pay dividends in the amount of $750,000 this year.
A. What amount will go to preferred stockholders?
The amount that will go to preferred stockholders is $400,000 if Colliers, Inc. has 105,000 shares of cumulative preferred stock outstanding.
How do you define stock?The ownership certificates of any corporation are referred to as stocks in a general sense. On the other hand, a share alludes to the stock certificate of a specific business. A shareholder is someone who owns stock in a specific corporation. Stocks come in two varieties: common and favored.
Why do investors purchase stocks?Your investment portfolio may benefit from including stocks. Investing in stocks of various companies can help you increase your savings, shield your money from inflation and taxes, and increase the return on your assets. It's critical to be aware of the hazards associated with stock market investing.
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project managers must assess the needs of the organization, the project, and individuals in determining which communication medium to use, and when.
When choosing which communication channel to utilize and when, project managers must consider the requirements of the organization, the project, and the people involved.
Briefing:-Regardless of the requirements of the stakeholders, status reports should be produced in a uniform style. Any communication issues the team may have can be resolved by the facilitator.
Which form of communication is best for gauging project stakeholders' commitment?The best use of email communication is to gauge someone's dedication to a project.
Which of the following recommendations is a best practice for project managers to adhere to while emailing their teams?Which of the following should project managers adhere to while emailing teams? Put the complete message in the subject line if it would fit. Regardless of the requirements of the stakeholders, status reports should be produced in a uniform style.
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Maxcorp bonds sell for $1,065.15. the bond life is 9 years, and the yield to maturity is 7%. what is the coupon rate on the bonds? (assume a face value of $1,000 and annual coupon payments.) note: do not round intermediate calculations. enter your answer as a percent rounded to 1 decimal place.
Coupon rate ______%
The bonds have an 8% coupon rate. The yearly salary an investor can anticipate while owning a specific bond is known as that of the coupon rate.
What is the rate of the coupon?We are given the information and now we must calculate the cuopon rate:The current market value is 1065.15.Market value corresponds to the coupon payment plus the maturity, plus 1, nine years until maturity, rate 0.079 PV = 504.4371 at maturity.Market value corresponds to coupon payment plus maturity, which is 1,065.15, the less contribution of 504.44, or 501.83.The true price of the coupon payment Using the annuity formula, we calculate coupon rate as follows: PV $501.83 time 9 at a rate of 0.079 C - $80.00.We are aware that the coupon payments is equal to the following: face value times bond interest ( 1,000 x r = 80, r = 80/1,000 = 0.08).
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Which of the following is defined as an offer which comes under a State Administrator's jurisdiction?A. An offer to sell a security made by an agent in another state to a customer that lives in the Administrator's stateB. Neither the customer nor the agent reside in the Administrator's state, but the offer is made in the State while the customer is on a brief vacationC. The offer is made by TV broadcast originating from another State D. Neither the customer nor the agent reside in the Administrator's state, but the offer is accepted in the State by the customer while on vacation
A. An offer to sell a security made by an agent in another state to a customer that lives in the Administrator's state is defined as an offer which comes under a State Administrator's jurisdiction.
Both State Administrators have authority over an offer made by an out-of-state agent into another State. A state administrator is a representative of a governing body, regulatory organization, or official who is in charge of supervising and enforcing state laws governing securities transactions.
Each state in the US is guided by a model law known as the Uniform Securities Act when establishing its own regulations for securities transactions that are not otherwise subject to federal oversight. At the state level, the state administrator's responsibility is to safeguard investors from securities fraud.
Each state also has a securities regulator that is responsible for upholding "blue sky" rules, which are in addition to the federal securities laws that are governed and enforced by the Securities and Exchange Commission (SEC).
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which of the following is not a provision of the public company accounting reform and investor protection act of 2002 (sarbanes-oxley)? the act:
Changed the entity responsible for setting accounting standards is not a provision of the public company accounting reform and investor protection act of 2002.
What is public company accounting reform and investor protection act of 2002?The Public Company Accounting Oversight Board is created by the Public Company Accounting Reform and Investor Protection Act of 2002 to impose penalties on registered public accounting firms and their affiliated individuals. Congress passed the Sarbanes-Oxley Act of 2002 in response to massive corporate fraud and failures. By establishing new auditor criteria and shifting accountability for the thorough and accurate management of financial reports, the legislation imposed new regulations for corporations. In order to safeguard investors and advance the public interest in the creation of relevant, accurate, and independent audit reports, the PCAOB is a nonprofit organization that Congress created to monitor the audits of public businesses.To learn more about company accounting reform refer to:
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Scenario 10-1 The demand curve for gasoline slopes downward and the supply curve for gasoline slopes upward. The production of the 1,000th gallon of gasoline entails the following: O a private cost of $3.10; . O a social cost of $3.55; O a value to consumers of $3.70
the production of gasoline involves a negative externality, so the market will produce a larger quantity of gasoline than is socially desirable.
Petroleum- deduced clear ignitable liquid known as gasoline or petrol is the primary energy for the maturity of spark- burned internal combustion machines( also known as petrol machines). It substantially comprises of organic composites made from petroleum fractional distillation that have been bettered with colorful additions. A typical barrel of crude oil painting yields 19 to 20 gallons of gasoline, 11 to 13 gallons of distillate energy, the maturity of which is vended as diesel energy, and 3 to 4 gallons of spurt energy at U.S. refineries. The crude oil painting test and oil painting refinery processing determine the product rate.
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The range for the right hand side of the constraint show the limit within show the value of the RHS can be changed without changing the value of
Side is the constraint's right-hand side; The amount you can increase the right side of the constraint without changing the basis is known as the allowable increase.
The amount you can reduce the right side of the constraint without changing the basis is shown by the allowable decrease.
Which of the following is true when a constraint's slope is altered by changing its RHS?A constraint's slope can be altered by changing its RHS. In the optimal solution, a constraint of less than or equal to with positive slack will always have an infinitely small RHS decrease.
What are the ranges on the right side?The range over which a single right-side value can fluctuate without altering the optimal solution's foundation is referred to as the right-side ranges. The shadow prices and reduced costs' values are guaranteed to remain unchanged within these ranges on the right-hand side.
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here are four statements about production in a firm. which of them are true? if total product is rising, marginal product must also be rising ap microecon
The Total Product (TP) grows at an increasing rate as the Marginal Product (MP) grows.
What distinguishes the two terms, marginal cost and marginal product?The total cost to create one additional unit of a good or service is known as the marginal cost in economics. Marginal product is the additional output produced by one more unit of input, such as a worker more.
How can I calculate the total and marginal product?At 0 degrees of input employment, the marginal product is unexplained since inputs cannot accept negative values. The total product is equal to the sum of the marginal products of all previous units of an input, regardless of its degree. Therefore, the sum of marginal products is the total product.
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Raj, who is single and itemizes deductions, provides you with the following information from her financial records for 2021. Compute Raj's AMTI. Regular income tax liability $104,044 AMT positive adjustments 33,000 AMT preferences 75,000 Taxable income 370,000 O a.$0 O b. $368,600 O c. $404,400 O d. $478,000 O e. $490,000
D) AMTI of Raj. $478,000. Regular income tax. By the end of 2022, the personal income tax rate in the Philippines is expected to reach 35.0%.
A tax imposed by the government on an individual or business's income is known as an income tax. The various tax divisions are subject to the same tax rate. Taxes can be either direct or indirect.
Particular Taxable Earnings: 370,000
Add: 33,000 additional positive AMT
adjustments Raj's AMTI is valued at $478,000,
so, AMT prefers 75,000.
Pay from pay is the amount of Essential compensation + HRA + Exceptional Remittance + Transport Recompense + some other stipend.
What does income tax mean?Individuals (or families) and businesses alike pay an income tax. The amount of income received is used to calculate individual income tax. Since it is likely borne by those who pay it, it is typically categorized as a direct tax.
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In 2000, Ms. Ennis, a head of household, contributed $50,000 in exchange for 500 shares of Seta stock. Seta is a qualified small business. This year, Ms. Ennis sold all 500 shares for $117,400. Her only other investment income was an $8,600 long-term capital gain from the sale of land. Her taxable income before consideration of her two capital transactions is $590,000. Assume the taxable year is 2016. Use Individual tax rate schedules.
a. Compute Ms. Enis's taxable income, income tax and Medicare contribution tax for the year.
b. How would the computation change if Ms. Ennis acquired the Seta stock in 2014 instead of 2000?
Compute Taxable Income, Income Tax and Medicare Contribution Tax for each.
Ms. Ennis, a head of home, gave $50,000 in exchange for 500 shares of Sets stock in 2000. Seta is an approved small enterprise.
What sorts of entities fall under the corporate umbrella?A corporation is a legal body that is owned by its shareholders, who also choose a board of directors to manage the organization's operations. The company is responsible for the business's operations and financial state.
What are corporations and their different types?A corporation can be established as either a for-profit or a non-profit organization. The majority of businesses are for-profit organizations, and they are created to make money and give back to their shareholders in proportion to their ownership stakes in the company.
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The balance sheets for Plasma Screens Corporation, along with additional information, are provided below:
PLASMA SCREENS CORPORATION
Balance Sheets
December 31, 2021 and 2020
2021 2020
Assets Current assets: Cash $ 114,250 $ 128,400 Accounts receivable 79,200 93,500 Inventory 98,000 82,700 Prepaid rent 4,600 2,300 Long-term assets: Land 495,000 495,000 Equipment 802,000 685,000 Accumulated depreciation (431,000 ) (274,000 ) Total assets $ 1,162,050 $ 1,212,900 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 102,000 $ 87,700 Interest payable 6,450 12,900 Income tax payable 8,600 5,300 Long-term liabilities: Notes payable 107,500 215,000 Stockholders' equity: Common stock 715,000 715,000 Retained earnings 222,500 177,000 Total liabilities and stockholders' equity $ 1,162,050 $ 1,212,900 Additional Information for 2021:
Net income is $72,000.
The company purchases $117,000 in equipment.
Depreciation expense is $157,000.
The company repays $107,500 in notes payable.
The company declares and pays a cash dividend of $26,500.
Can someone please help me create the statement of cash flow using the indirect method?
A cash flow statement, commonly referred to as a statement of cash flows, is a financial document that illustrates the impact of changes in the income and balance sheet accounts on cash and cash equivalents.
How to create cash flow statement ?To create the statement of cash flow using the indirect method, we can follow these steps:
Calculate net cash provided by operating activities:
Begin by calculating the net income for the year. For Plasma Screens Corporation, the net income is $72,000.
Next, add back any non-cash expenses, such as depreciation, to arrive at the net cash provided by operating activities. For Plasma Screens Corporation, the net cash provided by operating activities is calculated as follows:
Net cash provided by operating activities = Net income + Depreciation expense
= $72,000 + $157,000
= $229,000
Calculate net cash used in investing activities:
Next, calculate the net cash used in investing activities. This includes any purchases of long-term assets, such as land and equipment, as well as any investments in other businesses. For Plasma Screens Corporation, the net cash used in investing activities is calculated as follows:
Net cash used in investing activities = Purchases of long-term assets
= $117,000
Calculate net cash provided by (used in) financing activities:
Next, calculate the net cash provided by (or used in) financing activities. This includes any payments on long-term liabilities, such as notes payable, as well as any dividend payments or stock issuances. For Plasma Screens Corporation, the net cash provided by financing activities is calculated as follows:
Net cash provided by financing activities = Payments on long-term liabilities - Dividend payments
= $107,500 - $26,500
= $81,000
Calculate the net increase (decrease) in cash:
Finally, calculate the net increase (or decrease) in cash by adding the net cash provided by operating activities, net cash used in investing activities, and net cash provided by (or used in) financing activities. For Plasma Screens Corporation, the net increase in cash is calculated as follows:
Net increase in cash = Net cash provided by operating activities + Net cash used in investing activities + Net cash provided by (used in) financing activities
= $229,000 + ($117,000) + $81,000
= $193,000
Determine the ending cash balance:
To determine the ending cash balance, add the net increase in cash to the beginning cash balance. For Plasma Screens Corporation, the ending cash balance is calculated as follows:
Ending cash balance = Beginning cash balance + Net increase in cash
= $128,400 + $193,000
= $321,400
Using this information, we can create the statement of cash flow for Plasma Screens Corporation using the indirect method as follows:
PLASMA SCREENS CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2021
Using the Indirect Method
Net cash provided by operating activities:
Net income $72,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense 157,000
Net cash provided by operating activities $229,000
Net cash used in investing activities:
Purchases of long-term assets ($117,000)
Net cash used in investing activities ($117,000)
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all foreign companies listing their shares in the united states (are, aren't) required to restate their financial statements to comply with fasb standards.
All foreign companies listing their shares in the United States aren't required to restate their financial statements to comply with fast standards.
What are the financial statements?Financial statements are formal records of a company's, person's, or other entity's financial activities and position. Relevant financial information is presented in a structured and easy-to-understand format.
Therefore, All foreign companies with shares listed in the United States are not required to restate their financial statements in order to meet fast standards.
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Uli Adventures provides tours of scenic locations in Oregon. The company expects tours taken to increase dramatically compared with the prior year. For the past year, 2017, the number of tours given were as follows: First quarter 8,000 Second quarter 10,000 Third quarter 10,000 Fourth quarter 11,000 Assume that sales for each quarter in 2018 will be 30 percent higher than in 2017 and that the price per tour is $79. Prepare a sales budget by quarter for 2018. Enter your answers as amounts only with neither commas nor decimals. Third Quarter Second Quarter $ Fourth Quarter $ First Quarter Budgeted $ sales dollars $
QUARTER SALES BUDGET FOR 2018: First quarter is 821600, Second quarter is 1027000, Third quarter is 1027000, Fourth quarter is 1129700.
WHAT IS SALES BUDGET?The amount the entity anticipates selling and the revenue from the sale are forecasted in a sales budget. based on the management's assessment of the market's competition, economic conditions, production capacity, consumer current market demands, and historical trends. Of such expected quantity in the future period.
ENTRY CHART:
2017(units) 2018(units)=2017 Price Budgeted sales ($)
units*130%
1. 8000 10400 79 821600
2. 10000 13000 79 1027000
3. 10000 13000 79 1027000
4. 11000 14300 79 1129700
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