Answer:
(C) Financing Activity of $161,000
Explanation:
Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.
The missing information is below the question in ask for details
Cash flow from Financing activities
Issue of common stock $144,000 ($159,000 - $15,000)
Issue of treasury stock $17,000 ($110,000 - $93,000)
Net Cash flow from Financing activities $161,000
The statement of cash flows with the indirect method will report on operating and financing activities, but given the lack of details in the question, it is impossible to confirm whether the operating activity of $16,000 or financing activity of $161,000 or both are reported.
The student inquired about what is reported on the statement of cash flows prepared with the indirect method as of December 31, 2020. Given there were no transactions involving common stock or Treasury Stock, and no dividends were declared, the potential activities reported would pertain to either operating activities or financing activities. Since the question does not provide specific details about the company’s cash flows from operating activities or financing activities, it is not possible to accurately determine whether option B ($16,000 Operating Activity) or C ($161,000 Financing Activity) is included in the statement of cash flows. Therefore, the question cannot be conclusively answered without additional details. It would be necessary to have the company’s income statement and changes in working capital to determine the cash flows from operating activities, as well as details on any loans or other financing activities to report financing activities.
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Estimated machine-hours 8,400
Actual manufacturing overhead $ 352,960
Actual machine-hours 8,460
The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.
The applied manufacturing overhead for the year is closest to:_________.
A. $357,012
B. $354,474
C. $355,489
D. $352,951
Answer:
B. $354,474
Explanation:
The Overheads that are initially included in Work In Process before determination of Actual Overheads are called Applied Overheads.
Applied Overheads = Predetermined overhead rate × Actual level of Activity.
Thus said we need to first determine the Predetermined overhead rate :
Predetermined overhead rate = Budgeted Overheads / Budgeted Activity
= $ 351,960 / 8,400 machine hours
= $41.90 per machine hour
Therefore,
Applied Overheads = $41.90 × 8,460 machine hours
= $354,474
Conclusion :
The applied manufacturing overhead for the year is closest to: $354,474
1. Labelling and packaging
2. Plant Security
3. Sales commission
4. Supplies
Answer:
When you collect all the costs related to performing a particular activity (e.g. producing a product), you have created an activity cost pool. This helps to get an accurate estimate of the cost of that activity or task and is mostly applied in activity-based costing system. Different activities may require different cost pools.
The activities below are thus classified accordingly:
1. Labelling and Packaging - Batch Cost Pool
2. Plant Security - Facility Level Cost Pool
3. Sales Commission - Product Cost Pool. (This is incurred in selling the product and so must be pre-built into the price of the product.
4. Supplies - Unit Level Cost Pool (Supplies are incidental items that are expected to be consumed in the near future. Examples are paper clips that you use in the daily workings of the business. Supplies are differ from Materials which refer to the raw stock from which finished goods are made. Examples of material are raw materials, components, sub-components, and production supplies. Materials would go under Product Cost Pool.
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Answer: The adjusting entries for the uncollectible accounts would be as follows: Debit Bad debt expense $277,500; Credit Allowance for doubtful accounts $277,500
Explanation: As provided in the question, bad debt expense is determined by the percentage of sales method. In this instance, it is estimated at 1/4 of 1% of sales. 1% of $102,480,000 = $1,024,800; 1/4 of $1,024,800 = $256,200. Please note that there was an existing debit balance of $21,300 in allowance for doubtful accounts (usually, it should have a credit balance), in order to reinstate the allowance for doubtful account to $256,200, we have to credit it with $277,500 ($256,200 + $21,300), by way of the journals above.
The adjusting entry for uncollectible accounts can be calculated by adding the estimated bad debt expense ($256,200) to the existing balance in the Allowance for Doubtful Accounts ($21,300), resulting in a total adjusting entry of $277,500.
To find out the amount of the adjusting entry for uncollectible accounts, you first need to calculate the bad debt expense. Since the question states that bad debt expense is estimated to be 1/4 of 1% of sales, we would find this by multiplying $102,480,000 by 0.0025 (1/4 of 1%).
Bad debt expense = $102,480,000 * 0.0025 = $256,200
Given that the Allowance for Doubtful Accounts already has a balance (which is a debit balance of $21,300), we need to add this to the estimated bad debt expense to determine the adjusting entry.
Adjusting entry for uncollectible accounts = Bad debt expense + Existing Balance in Allowance for doubtful accounts
= $256,200 + $21,300 = $277,500
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Answer: Please refer to Explanation
Explanation:
Foreign Direct Investment refers to the establishment of a company in a country by a foreign company or the acquisition of a company by a foreign company. The main thing to note is that the foreign company is involved DIRECTLY in the running of the newly established or acquired company.
Foreign Portfolio Investment however, is investing in another country by means of purchasing shares, bonds or other financial instruments from that country.
Therefore we can then classify the above accordingly,
Buying bonds issued by a foreign government. FOREIGN PORTFOLIO INVESTMENT.
Opening up a factory in a foreign country. FOREIGN DIRECT INVESTMENT.
An individual investor is more likely to engage in foreign direct investment than a corporation. FALSE.
Foreign Direct Investment would simply be too expensive for the average individual to engage in. It is way more likely to be a Corperation.
Cash ________________$
What is the value of the current assets?
Current assets ______________$
Answer:
Cash $705
Current Assets $6,195
Explanation:
Equity $13,505
Long-term debt $8,800
Net working capital, other than cash, $3,620.
Fixed assets are $17,980
Current liabilities are $1,870.
Net Working capital is the Net value of Current and Current Liabilities.
We need to calculate current assets with cash first.
As we know
Assets = Equity + Liability
Fixed Assets + Current Assets = Equity + Long Term Liability + Current Liability
$17,980 + Current Assets = $13,505 + $8,800 + $1,870
Current Assets = $24,175 - $17,980 = $6,195
Net Working Capital = Current Assets - Current Liabilities
$3,620 = Current Assets - $1,870
Current Assetsother than cash = $3,620 + $1,870
Current Assets other than cash = $5,490
Cash Value = Total Current Assets - Current Assets other than cash = $6,195 - $5,490 = $705
Cori's Corp has $705 in cash and $4,325 in current assets. This is calculated using the formula: Cash = Equity value + Long-term debt - Fixed assets - Net working capital (excluding cash), and then adding the calculated cash to the net working capital to get the current assets.
To calculate the cash of the company, you need to use the following formula: Cash = Equity value + Long-term debt - Fixed assets - Net working capital (excluding cash).
So the cash Cori's Corp. has would be: Cash = $13,505 + $8,800 - $17,980 - $3,620 = $705.
Next, the total current assets would be the sum of the Net Working Capital and cash. In this case, current assets = Net working capital + Cash = $3,620 + $705 = $4,325.
Hence, Cori's Corp has $705 in cash and $4,325 in current assets.
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