x
Info
x
Warning
x
Danger

Accounting Expert Answers & Study Resources : Page 370

The vast field of accounting contributes to one of the largest subjects in our study resources. Accounting flashcards, homework answers for textbooks & other learning aids can increase your competency in this domain instantly. Become a top student with our support. Search Now…

Expert Answers

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
150245 Resources
0 Students Benefited

177) Use the direct method of cash flows to answer the question. Beginning A/R: $68,000Beginning Inventory: $42,500 Ending A/R: $79,000Ending Inventory: $47,000 Credit Sales: $745,000Beginning A/P: $29,000 Cost of Goods Sold: $412,000Ending A/P: $36,300 Calculate the cost of merchandise purchased during the year. 178) Use the direct method of cash flows to answer the question. Beginning A/R:.

Homework Answers
15 Views
  • 177) Use the direct method of cash flows to answer
  • Accounting
Homework Answers
View Answer

142) Senseman Company has three potential projects from which to choose. Selected information on each of the three projects follows: Project A Project B Project C Investment required $ 42,500 $ 56,000 $ 53,700 Net present value of project $ 45,700 $ 75,400 $ 70,200 Using the profitability index, rank the projects from most profitable to least profitable. A) A, B, C B) C,.

Homework Answers
17 Views
  • 142) Senseman Company has three potential projects from which to
  • Accounting
Homework Answers
View Answer

117) A company uses the indirect method to prepare the statement of cash flows. It presents the following amounts on its financial statements. End of this year End of prior year Accounts receivable $115,000 $100,000 Cost of goods sold 560,000 Sales revenue 830,000 Accounts payable* 77,000 67,000 Inventory 90,000 105,000 Salary payable 12,000 10,000 Salary expense 49,000 45,000 *Relates solely to the acquisition of inventory What will appear in the operating.

Homework Answers
15 Views
  • 117) A company uses the indirect method to prepare the
  • Accounting
Homework Answers
View Answer

137) Use the indirect method of preparing a statement of cash flows to answer the question. Ending balances for Sunday Hut are listed below: Item End of this year End of prior year Building $365,000 $0 Equipment 111,000 0 Notes Payable 39,000 33,000 Common Stock 256,000 192,000 Paid-in Capital in Excess of Par/Common 56,400 38,000 Retained Earnings 231,000 174,000 Net income for this year was $97,000 and dividends of $24,000 were declared.

Homework Answers
14 Views
  • 137) Use the indirect method of preparing a statement of
  • Accounting
Homework Answers
View Answer

170) A company uses the direct method to prepare the statement of cash flows. It presents the following amounts on its financial statements. End of this year End of prior year Accounts receivable $115,000 $100,000 Cost of goods sold 520,000 Sales revenue 850,000 Accounts payable* 80,000 65,000 Inventory 92,000 110,000 Salary payable 15,500 12,000 Salary expense 50,000 44,000 *Relates solely to the acquisition of inventory What will appear in the operating activities.

Homework Answers
18 Views
  • 170) A company uses the direct method to prepare the
  • Accounting
Homework Answers
View Answer

133) The following information is available for three companies. The information relates to the companies' plant assets. For each of the companies, determine the unknown amounts. Fox Co. Wolf Co. Coyote Co. Beginning plant assets, net of depreciation $860,000 $715,000 $489,700 Ending plant assets, net of depreciation 950,000 702,400 288,300 Depreciation expense 55,300 49,500 (c) Gain (loss) on sale of plant assets 5,600 (b) (15,200) Cost of plant assets.

Homework Answers
15 Views
  • 133) The following information available for three companies. The information
  • Accounting
Homework Answers
View Answer

41) Gomez Corporation is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $ 850,000 $ 468,000 Useful life 8 years 8 years Estimated annual net cash inflows for 8 years $ 125,000 $ 78,000 Residual value $ 40,000 $ - Depreciation method Straight-line Straight-line Required rate of return 14% 10% What is the accounting rate of return for Proposal Y? A) 5.24% B) 4.17% C) 29.17% D) 16.67% 42) The Warren.

Homework Answers
40 Views
  • 41) Gomez Corporation considering two alternative investment proposals with the
  • Accounting
Homework Answers
View Answer

127) The balance sheet for Bostick Corporation follows: Ending balance Beginning balance Assets: Current assets: Cash and cash equivalents $ 58,400 $ 44,600 Accounts receivable $ 19,000 $ 22,300 Inventory $ 48,900 $ 53,000 Total current assets $ 126,300 $ 119,900 Property, plant, and equipment $ 287,800 $ 275,300 Less accumulated depreciation $ 108,600 $ 101,550 Net property, plant, and equipment $ 179,200 $ 173,750 Total assets $ 305,500 $ 293,650 Liabilities and stockholders' equity: Current liabilities: Accounts payable $ 26,030 $ 29,580 Wages.

Homework Answers
18 Views
  • 127) The balance sheet for Bostick Corporation follows: Ending balance Beginning balance
  • Accounting
Homework Answers
View Answer

169) (Present value tables are needed.) Shaker Investments, a private investment holding company, is searching for a new investment opportunity. Shaker Investments has identified two potential investment opportunities: an upstart fast food chain and a growing organic grocery chain. Information for each investment follows: Fast FoodOrganic Grocery ChainChain Investment$975,000$1,500,000 Useful life (years)1515 Estimated annual net.

Homework Answers
18 Views
  • 169) (Present value tables needed.) Shaker Investments, a private investment
  • Accounting
Homework Answers
View Answer

168) (Present value tables are needed.) Georgia Peach Farms is upgrading its fruit washing/separating machine. Georgia has narrowed the decision down to two machines: Machine A and Machine B.Pertinent information for each machine follows: Machine AMachine B Investment$450,000$650,000 Useful life (years)1010 Estimated annual net cash inflows for useful life$75,000$120,000 Residual value$25,000$35,000 Depreciation methodstraight-linestraight-line Required rate of return10%12% Required: a.Calculate.

Homework Answers
13 Views
  • 168) (Present value tables needed.) Georgia Peach Farms upgrading its
  • Accounting
Homework Answers
View Answer

21) The Nichols Corporation data for the current year: Account Current year Prior year Current assets $75,600 $60,000 A/R $59,400 $44,000 Mdse. Inventory $51,200 $40,000 Current liabilities $71,500 $55,000 Long-term liabilities $36,000 $30,000 Common stock (5,000 shares) $47,460 $42,000 Retained earnings $31,240 $17,000 Net sales revenue $607,700 $515,000 COGS $469,700 $385,000 Gross Profit $138,000 $130,000 Selling/General expenses $49,080 $52,000 Net income before taxes $88,920 $78,000 Income tax expense $20,520 $18,000 Net Income $68,400 $60,000 What would a horizontal analysis report with respect to long-term liabilities? A) Long-term liabilities increased by $6,000. B) Long-term liabilities decreased by 5.92%. C).

Homework Answers
12 Views
  • 21) The Nichols Corporation data for the current year: Account Current year Prior
  • Accounting
Homework Answers
View Answer

1) Generally, using more than one year of data to analyze company performance is desirable. 2) Investors and creditors generally evaluate a company by using a single year's data. 3) Most financial statement analysis covers trends of more than one year. 4) Horizontal analysis is the study of percentage changes in comparative financial.

Homework Answers
39 Views
  • 1) Generally, using more than one year of data to
  • Accounting
Homework Answers
View Answer

51) An outflow of cash from an investing activity would be A) making loans to third parties. B) issuing notes payable. C) paying cash dividends to stockholders. D) purchasing treasury stock. 52) Money borrowed for a mortgage would be a(n) ________ activity. A) operating B) financing C) investing D) non-cash 53) All of the following are cash outflows from.

Homework Answers
16 Views
  • 51) An outflow of cash from an investing activity would
  • Accounting
Homework Answers
View Answer

174) Use the direct method of cash flows to answer the question. Beginning A/R: $68,000Beginning Inventory: $42,500 Ending A/R: $79,000Ending Inventory: $47,000 Credit Sales: $745,000Beginning A/P: $29,000 Cost of Goods Sold: $412,000Ending A/P: $36,300 Compute the change in accounts receivable for the year. 175) Use the direct method of cash flows to answer the question. Beginning A/R:.

Homework Answers
13 Views
  • 174) Use the direct method of cash flows to answer
  • Accounting
Homework Answers
View Answer

135) The income statement and a partial balance sheet for Regovich Company is presented below. Prepare the operating activities section of the statement of cash flows using the indirect method. Regovich Company Income Statement For the Current Year Sales $550,00 Cost of goods sold   390,000 Gross profit $160,000 Operating expenses:    Salaries $70,000    Depreciation expense 28,000    Miscellaneous 10,000 108,000 Net income $52,000 Regovich Company Partial.

Homework Answers
20 Views
  • 135) The income statement and a partial balance sheet for
  • Accounting
Homework Answers
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*