Answer:
>>>>>>>
Explanation:
If a company is using the indirect method to prepare the statement of cash flows, identify where an increase in the accounts receivable account should be reported:
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.
COOKIE CREATIONS
Adjusted Trial Balance
December 31, 2021
Debit
Credit
Cash
$1,230
Accounts Receivable
910
Supplies
360
Prepaid Insurance
1,260
Equipment
1,200
Accumulated Depreciation—Equipment
$40
Accounts Payable
80
Salaries and Wages Payable
58
Interest Payable
15
Unearned Service Revenue
310
Notes Payable
2,100
Owner’s Capital
830
Owner’s Drawings
520
Service Revenue
4,623
Salaries and Wages Expense
1,046
Utilities Expense
130
Advertising Expense
170
Supplies Expense
1,065
Depreciation Expense
40
Insurance Expense
110
Interest Expense
15
$8,056
$8,056
Using the information in the adjusted trial balance, do the following.
(a1)
Prepare an income statement for the 2 months ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
COOKIE CREATIONS
Income Statement
choose the accounting period
select an opening name for section one
enter an income statement item
$enter a dollar amount
select an opening name for section two
enter an income statement item
$enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
enter a total amount for section two
select a closing name for this statement
$enter a total net income or loss amount
eTextbook and MediaAssistance Used
eTextbook 1
eTextbook 2
List of Accounts
Attempts: 0 of 3 used
(a2)
(a3)
(b)
(c)
The income statement for the 2 months ended December 31, 2021 is $2,047.
Income statementRevenue:
Service revenue (A) 4,623
Operating expenses:
Add: Salaries and wages expense 1,046
Add: Utilities expense 130
Add: Advertising expense 170
Add: Supplies expense 1,065
Add: Depreciation expense 40
Add: Insurance expense 110
Total operating expenses (B) 2,561
Operating income (C = A - B) 2,062
(4,623-2,561)
Less: Interest expense 15
Net income $2,047
Inconclusion the income statement for the 2 months ended December 31, 2021 is $2,047.
Learn more about income statement here:https://brainly.com/question/24498019
imagine you held one bitcoin that had increased in value from $30,000 to $40,000 in the span of a year. this would mean that your money holdings would have increased by $10,000. is this statement true or false?
The statement about the money holdings of a person being increased by $100,000 is:
False, because the bitcoin is an investment and not a money holding.This refers to the assets which are held in cash and ready to be used.
Hence, we note that there are 3 functions of money which includes functioning as:
A store of valueUnit of accountMedium of exchange.With this, we can state that the statement is false because the bitcoin is an investment and not a money holding.
Read more about money here:
https://brainly.com/question/24556197
Assume that the following data relative to Kane Company for 2021 is available:
Net Income $2,100,000
Transactions in Common Shares Change Cumulative
Jan. 1, 2021, Beginning number 700,000
Mar. 1, 2021, Purchase of treasury shares (60,000) 640,000
June 1, 2021, Stock split 2-1 640,000 1,280,000
Nov. 1, 2021, Issuance of shares 240,000 1,520,000
6% Cumulative Convertible Preferred Stock
Sold at par, convertible into 200,000 shares of common $1,000,000
Stock Options
Exercisable at the option price of $25 per share. Average market price in 2021. $30 (market price and option price adjusted for split). 90,000 shares
Required:
a. Compute the basic earnings per share for 2021.
b. Compute the diluted earnings per share for 2021.
a) The computation of the basic earnings per share of Kane Company for 2021 is $1.38 ($2,100,000/1,520,000).
b) The computation of the diluted earnings per share of Kane Company for 2021 is $1.16 ($2,100,000/1,810,000).
What are the basic and diluted earnings per share?Basic earnings per share are based on the weighted average number of ordinary shares outstanding during the period, which is used to divide the net income.
Diluted earnings per share are the net income divided by the weighted average number of ordinary shares plus the dilutive potential ordinary shares (including stock options and convertible instruments) that meet the required criteria.
Data and Calculations:Net Income = $2,100,000
Transactions in Common Shares Change Cumulative
Jan. 1, 2021, Beginning number 700,000
Mar. 1, 2021, Treasury shares (60,000) 640,000
June 1, 2021, Stock split 2-1 640,000 1,280,000
Nov. 1, 2021, Stock Issuance 240,000 1,520,000
6% Cumulative Convertible Preferred Stock at par, convertible into 200,000 shares of common $1,000,000 200,000
Stock Options = 90,000 shares 90,000
Total number of shares for diluted earnings = 1,810,000 (1,520,000 + 200,000 + 90,000)
Learn more about basic earnings and diluted earnings per share at https://brainly.com/question/22374514
Suppose there is a bond that matures in two years with a coupon rate of 10% each year. Given that the principal of the bond is $3,000, and the economy interest rate is 2%, what is the present value of this bond?
Answer:
3.466 I'm not sure , may it 's true or false
what are special features associated with syndicated lending?
Answer :
Because numerous lenders participate to a syndicated loan, the loan can be arranged into various forms of loans and securities. Varied loan kinds have different interest rates, such as fixed and adjustable rates. It is the polar opposite of a fixed rate, giving the borrower additional flexibility.
There is no separate agreement between a bank and a borrower. There used to be no uncertainty. The contract usually lasts between three and fifteen years. Loan syndication has a low risk factor.
I hope this helps.
Do you think the media has a responsibility to teach young boys how to become men?
Answer:
No, but they will still consider it as their responsibility to teach a young boy how to become the "perfect" person, thus creating pressure and stress to become a man that will fit in society.
Explanation:
list and explain principles of insurance
Answer:
In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution. The right to insure arising out of a financial relationship, between the insured to the insured and legally recognized.
Explanation:
hope it helps you
Check your knowledge
Karl, a 50-year-old mechanic, runs
the local garage in a small town and
is considering taking his business
online
How could going digital benefit his
business?
Answer:
having a website will make his business more visible to customers as they can find his business by searching on search engines and online directories.
he can target ads using Search Engine Marketing(SEM) towards local customers looking for his business
Answer:
more people can find out about your business
Hunter is a manager of a newly created division of a large company. He is working to develop job definitions and lines of responsibility. Which function of management best describes Hunter's current task?
staffing
motivating
organizing
controlling
planning
The function of management which best describes Hunter's current task is:
PlanningWhat is Management?This refers to the act of organizing people, usually within a company and give them specific roles to play.
With this in mind, we can see that because Hunter is a manager who has the task of developing job definitions and also lines of responsibility for other staff, then the function of management which he is fulfilling is planning.
Read more about management here:
https://brainly.com/question/1276995
What did Apple and other publishers seek to do?
Answer:
they wanted to eliminate prices
Explanation:
hope this helped :)
Answer:
They sought to eliminate price competition on the sale of e-books.
Explanation:Plato
give an introduction to decision skill
Answer:
Decision Making Skills
Explanation:
Decision-making skills show your proficiency in choosing between 2 or more choices. Decision-making is the key skill in the workplace and very important for leaders. People with decision-making skills always: Stay on a mission, set a time limit, avoid distraction, and embrace uncertainty!
Hope this helps!
If you don't understand something or need more of an explanation, feel free to contact me! :D
1. The accounts receivable turnover is computed as __________ divided by __________.
a. sales; accounts receivable
b. sales; average accounts receivable
c. sales; net income
d. accounts receivable; net income
Explain why is it important to understand the action words before answers are given to assessment questions
Answer:
Action words are strong and powerful. They help demonstrate achievements. They grab the reader's attention.
Explanation:
Hope this helps:)......if not sorry for wasting your time:)
The sales representative for a manufacturer of a new product claims that the product will increase output per machine by at least 29 units per hour. A line manager installs the product on 15 of the machines, and finds that the average increase was only 26 with a standard deviation of 6.2. What are the appropriate null and alternative hypotheses?
The null and the alternative hypothesis will be u = 29 and H1: u > 29.
What is a null hypothesis?A null hypothesis simply means the hypothesis that propose that there's no difference between the characteristics in the population.
In this case, the null and the alternative hypothesis will be u = 29 and H1: u > 29.
Learn more about hypothesis on:
https://brainly.com/question/11555274
The $41 billion-dollar firm uber technology , inc., is unsettling the traditional taxi
From the choices, please select the major factors that result in government failure.
Choice 1: The United States uses a graduated tax system.
Choice 2: Production decisions are often made independently of government oversight.
Choice 3: Public choices involve many actors with their own economic objectives.
Choice 4: Correctly diagnosing the cause of a market failure is difficult.
Choice 5: Politicians often want to keep constituents happy more than they want to correct market failures.
Answer:
I think right answer is 5 number
The major factors that resulted in the government failure are given as follows:
Decisions related to production with no government interventionThe choices made by the public include many factors as per the economic objectives.Political leaders focus more on making the voters happier and ignores the market failures.Second, third and fifth are the correct choices.
What is a government failure?A government failure arises when the interference made by government resulted in the uneconomical and inefficient allocation of goods or services.
The factors that lead to failure on the part of the government are as follows:
When the production related matters are taken by businesses on their own and without intervention of government, then it leads to uneven distribution of goods or services as well as wastage of resources.Many factors affect the choices being taken by public and if the government fails in taking those decisions, then it might worsen the economic scenario.The government always gives more priority to their voters by providing them the needed facilities and ignored the failures of market. This will might lead to inflation in the country.Therefore, apart from first and fourth choice, the rest of the options are considered to be the factors in creating government failure.
Learn more about the government failure in the related link:
https://brainly.com/question/9258505
#SPJ2
Waterway Industries had accounts receivable of $106000 at 1/1. The only transactions affecting accounts receivable were sales of $855000 and cash collections of $801000. The accounts receivable turnover is: __________
a. 5.8.
b. 5.3.
c. 6.4.
d. 8.1.
1) Explain what is meant by the term impossible trinity and discuss example countries
that adopt policy consistent with such term
Answer:
Impossible trinity or trilemma in monetary policy means that a country cannot have a fixed exchange rate, free movement of capital and an independent monetary policy at the same time.
Explanation:
In real-life examples, as the market players reach the point where they suspect the government is running out of the reserves to defend its currency, they will pile in with direct speculative attacks where they borrow and sell the nation's currency without bothering with carry trades, leading to a quick profit once the inevitable devaluation occurs.
I hope is helpful
To publish a book, the major publishers require an upfront fee of $50,000. The marketing company charges $3/book to advertise the book. If the book sells for $9.50, how many books need to be sold to break even?
Handy Howard's Incorporated, is a student co-op. Handy Howard uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis:
a. Sold merchandise for cash (cost of merchandise $154,870).
b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $608).
c. Sold merchandise (costing $9,180) to a customer on account with terms n/30.
d. Collected half of the balance owed by the customer in (c).
e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,140
f. Anticipate further returns of merchandise (costing $204) after month-end from sales made during the month.
Required:
Compute Net Sales and Gross Profit for Handy Howard.
Based on the various transactions by Handy Howard's Incorporated, the Net Sales and Gross Profit are $294,270 and $133,040 respectively.
What are the Net Sales?This can be found as:
= Sales revenue - Sales returns and allowance
Solving gives:
= 276,700 (revenue) + 21,000 (revenue) - 1,610 (returns) - 1,820 (allowance)
= $294,270
What is the Gross Profit?This is found as:
= Net sales - Cost of goods sold
Cost of goods sold:
= 152,590 + 9,450 - 810
= $161,230
Gross profit:
= 294,270 - 161,230
= $133,040
Find out more on Gross profit at https://brainly.com/question/25628103.
Which of the following accounts is used only with the allowance method of accounting for uncollectible accounts receivable?
a. Accounts Receivable
b. Bad Debt Expense
c. Allowance for Doubtful Accounts
d. Cash
I put the question in the wrong place.
Answer:
you need to put it in the right place
Inflationary periods are known
for their general increase in
prices. What is the technical
definition for inflation?
A. A general increase in the price of
internationally traded goods and services.
B. A general increase in the price of
investments made by the government.
C. A general increase in the price of all goods
and services.
Answer:
C
Explanation:
A general increase in pretty much everything. :)
Theo Chocolate has decided to purchase a fleet of climate controlled trucks which will allow them to distribute and deliver their products to grocery stores across the U.S. This is an example of:
The decision of the firm to purchase a fleet of climate controlled trucks for distribution of its product is an example of ·Differentiation strategy.
What is a Differentiation strategy?
A differentiation strategy is a strategy adopted that make the offered goods or services more unique compared to their competitors.
In conclusion, majority of firms use the differentiation strategy to the differentiate between their products and the competitors.
Read more about Differentiation strategy
brainly.com/question/14682824
Ziehart Pharmaceuticals reported Net Sales of $195,000 and Cost of Goods Sold of $66,600. Candy Electronics Corporation reported Net Sales of $53,000 and Cost of Goods Sold of $39,800 Required: 1. Calculate the gross profit percentage for both companies. (Round your answers to 1 decimal place.) 2. Which company has a greater proportion of its sales available to cover expenses other than cost of goods sold?
The gross profit percentage for Ziehart Pharmaceuticals is 74.5%.
The gross profit percentage for Candy Electronics Corporation is 57.1%.
The company better able to use its sales to cover expenses is Candy Electronics Corporation.
What is the gross profit percentage?
The gross profit percentage is the ratio of net sales to total sales.
gross profit percentage = net sales / gross sales x 100
Gross sales is the sum of net sales and cost of goods sold
Ziehart Pharmaceuticals = [195,000 / (195,000 + 66,000)] x 100 = 74.5
Candy Electronics = [53,000 / (53,000 + 39800)] x 100 = 57.1
To learn more about financial ratios, please check: https://brainly.com/question/26092288
In 2015, a massive earthquake hit Nepal, destroying roads and buildings, and killing thousands of people.
What impact would you predict such a natural disaster to have on the U.S. economy in the short run? Drag the appropriate curve to show the impact on the graph.
Earthquake will have a negative effect on the US economy.
What is Earthquake?This is defined as the shaking of the ground caused by movement of the Earth's crust.
This will lead to destruction of structures, properties and loss of lives thereby requiring additional money allocated to rebuild them which has a negative impact on the economy as more costs will be allocated.
Read more about Earthquake here https://brainly.com/question/248561
The adjusting entry for accrued interest on a note receivable would include a __________ to __________.
a. debit; Cash
b. debit; Interest Expense
c. credit; Interest Revenue
d. debit; Notes Receivable
What should one research before creating a product? A:How much it will cost to compensate employees B:How much money investors are willing to invest in the product C:What is required to make the product D:The number of products that will need to be produced
Answer:
c
Explanation:
Scarcity of raw materials affects the market, quality and price of the product
What is required to make the product should one research before creating a product. Thus, option C is correct.
What is creating a product?Whether it's a corporation or an individual customer, products are normally made with the intention of being offered for purchase and eaten by somewhere else. a thing made for the advantage of a market.
The phases of the product development process include ideation, research, planning, testing, sourcing, consuming, and commercialization. Although the process varies by industry, it may generally be divided into seven stages.
The process of creating, producing, and marketing a product is known as industry research. It comprises the essential processes of doing user and market research as well as developing a marketing plan in order for introducing the product to potential customers.
Therefore, option C is correct.
Learn more about creating a product, here:
https://brainly.com/question/31878212
#SPJ2
1.Yegnaw company produces and sells two types of yoga - training products: how to videotapes and a basic equipment set (blocks, strap, and small pillows). Last year, yegnaw sold 14,500 videos and 7,250 equipment sets. Information on the two products is as follows:
Videos set
Equipment
Price
Br 17.14
Br 21.75
Variable cost per unit
5.80
8.70
Total fixed costs are Br 101,500.
(a) and (b) The computation of the break-even units for each product of Yegnaw Company is as follows:
Videos set Equipment
Break-even point (units) 14,097 21,324
What is the break-even point?The break-even point is an accounting term that shows that total revenue equals total expenses of Yegnaw Company.
The break-even point is the point at which the company does not make a profit or loss but the total revenues equal total variable and fixed costs.
It is computed as the fixed cost divided by the contribution margin. For multiple products, the break-even point can be computed by weighting the contribution margin as follows:
Data and Calculations:Videos set Equipment
Quantity sold 14,500 7,250
Price Br 17.14 Br 21.75
Variable cost per unit 5.80 8.70
Contribution margin per unit Br 11.34 Br 13.05
Total contribution margin Br 164,430 Br 94,612.50 (Br 13.05 x 7,250)
Total contribution margin for 2 products = Br 259,042.50
Weighted average contribution ratio 63.5% 36.5% (Br94,612.50/Br 259,042.50 x 100)
Weighted average contribution margin
per unit Br 7.20 (Br 11.34 x 63.5%) Br 4.76 (Br. 13.05 x 36.5%)
Total fixed costs = Br 101,500
Videos set Equipment
Fixed costs = Br 101,500
Weighted average contribution margin Br. 7.20 Br. 4.76
Break-even point (units) 14,097 21,324
(Br 101,500/Br 7.20) (Br 101,500/Br 4.76)
= Fixed costs/Weighted average contribution margin per unit
Question Completion:Compute the break-even quantity of each product.
a. Break-even DVDs
c. Break-even equipment sets
Learn more about the break-even point at https://brainly.com/question/21137380