Required information Use the following information for the Problems below.
Lansing Company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2016 and 2017, follow.

LANSING COMPANY
Income Statement
For Year Ended December 31, 2017
Sales revenue $ 118,200
Expenses
Cost of goods sold 49,000
Depreciation expense 15,500
Salaries expense 25,000
Rent expense 9,700
Insurance expense 4,500
Interest expense 4,300
Utilities expense 3,500
Net income $ 6,700


LANSING COMPANY
Selected Balance Sheet Accounts
At December 31 2017 2016
Accounts receivable $ 6,300 $ 7,200
Inventory 2,680 1,890
Accounts payable 5,100 6,000
Salaries payable 1,020 770
Utilities payable 360 230
Prepaid insurance 330 420
Prepaid rent 360 250
Problem 16-1A Indirect: Computing cash flows from operations LO P2
Required:
Prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (Amounts to be deducted should be indicated with a minus sign.)

LANSING COMPANY
Cash Flows from Operating Activities—Indirect Method
For Year Ended December 31, 2017
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operations:

Answers

Answer 1
Answer:

Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income                                                                           $6,700

Adjustment made:

Add : Depreciation expense                       $15,500

Add: Decrease in accounts receivable      $900 ($6,300 - $7,200)

Less: Increase in inventory                         -$790 ($2,680 - $1,890)

Less: Decrease in accounts payable         -$900 ($5,100 - $6,000

Add: Increase in salaries payable               $250 ($1,020 - $770)

Add: Increase in utility payable                   $130 ($360 - $230)

Less: Decrease in prepaid insurance         -$90 ($330 - $420

Add: Increase in prepaid rent                      $110 ($360 - $250)

Total of Adjustments                                                                  $15,110

Net Cash flow from Operating activities                                $21,810          


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Answers

Answer:

The points are as follows:-

1. Their preparations must be successful, and their implementation from the highest to the lowest managerial level is necessary.

2.We need to handle the whole project schedule acquisition process.

3.They ought to manage the sales contract for the finished product and the materials and machinery.

4.Prepare its manual data or auto-metrically produced purchase agreement from the line as well as from the planning process.

Producers' total revenue will decrease if A. The price rises and demand is inelastic. B. income increases and the good is a normal good. C. the price rises and demand is elastic. D. income falls and the good is an inferior good.

Answers

Answer:

The correct answer is letter "C": the price rises and demand is elastic.

Explanation:

Price elasticity of demand describes the relationship between changes in quantity demanded and prices. It is calculated by dividing the percentage change in quantity demanded by the percentage change in price. If the result is equal to or greater than 1, the demand is elastic. This means in front of relatively small changes in price, major changes in quantity demanded will occur.

Therefore, if a good or service increases in price being the product inelastic, the quantity demanded is likely to drop (demand law) implying the producers' revenue will be decreased.

The future value of a dollar 1. increases with lower interest rates
2. increases with higher interest rates
3. increases with longer periods of time
4. decreases with longer periods of time

Answers

Answer:

C. 2 and 3

Explanation:

Note: Options to the question are as follows "A. 1 and 3, B. 1 and 4, C. 2 and 3, D. 2 and 4.

FV = PV(1 + r)^t

Future value of a dollar is the value of a dollar if it earns a certain interest fro a specified time.  Future value increases with an increase in interest rates and time. Conversely, it decreases with a decrease in interest rates and time.

Thus, Option c is correct.

During January, Luxury Cruise Lines incurs employee salaries of $2.9 million. Withholdings in January are $221,850 for the employee portion of FICA, $435,000 for federal income tax, $181,250 for state income tax, and $29,000 for the employee portion of health insurance (payable to Blue Cross Blue Shield). The company incurs an additional $179,800 for federal and state unemployment tax and $87,000 for the employer portion of health insurance.Required:
A) Record the employee salary expense, withholdings, and salaries payable.
B) Record the employer-provided fringe benefits.
C) Record the employer payroll taxes.

Answers

Explanation:

The journal entries are shown below:

a. Salaries expense $2,900,000

             To Income tax payable $616,250  ($435,000 + $181,250)

             To FICA tax payable  $221,850

             To Account payable $29,000

             To Salaries payable $2,032,900

(Being the employee salary expense, withholdings, and salaries payable is recorded)

b. Salaries expense $87,000

                 To Account payable $87,000

(Being the employer-provided fringe benefits is recorded)

c. Payroll tax expense $179,800

   FICA tax expense $221,850

              To Unemployment tax payable $401,650

(being the employer payroll taxes is recorded)

Employees at an insurance company were complaining about the form used for evaluating employee effectiveness. Their complaints were related to ________ justice. procedural interpersonal informational distributive

Answers

Answer:

Procedural

Explanation:

-Procedural justice refers to having a fair and transparent process that is used to make decisions.

-Interpersonal justice refers to treating people affected by a procedure in a respectful way.

-informational justice refers to letting people know why certain decisions were made.

-Distributive justice refers to a fair distribution of resources among people.

According to this, the answer is that their complaints were related to procedural justice because when they complaint about the form used for evaluating employee effectiveness they are talking about the process that is used to make the evaluations.

The other options are not right because the situation doesn't refer to how people is treated, the information of the process or the distribution of resources.

HEY BESTIES ANSWER QUICKLY AND ILL MARK BRAINLIESTWhich statements describe letterheads?


They should have a different design than the business card.

They provide the contact information for a business.

They are seldom needed in small organizations.

Business cards and letterheads should be of similar design.

They have the same information as a business card.

Answers

Answer:

B- They provide the contact information for a business.

E- Business cards and letterheads should be of similar design

Explanation:

A letterhead is the heading found at the top of a paper and it usually includes the name of the organization, the logo and the contact information. The letterheads help to provide a professional image and consistency should be maintain in all the business stationery. According to that, the answer is that the two statements that describe letterheads are: they provide the contact information for a business and business cards and letterheads should be of similar design.

hope this helps pls let me know

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