Determine cash withdrawals for the period if net income is $53,000, beginning owner's equity is $47,000, and ending owner's equity is $63,000. a. $18,000. b. $8,000. c. $60,000. d. $37,000. Choose the correct answer
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Determine cash withdrawals for the period if net income is $53,000, beginning owner's equity is $47,000, and ending owner's equity is $63,000. a. $18,000. b. $8,000. c. $60,000. d. $37,000. Choose the correct answer
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- For each separate case, compute the required cash flow information for BioClean. Case A: Compute cash interest received Interest revenue $5,000 Interest receivable, beginning of year 600 Interest receivable, end of year . 1,700 Case B: Compute cash paid for wages Wages expense $9,000 Wages payable, beginning of year . . . . . . . 2,200 Wages payable, end of year . . . . . . . 1,000Financial data for Otto Company follow: a. Compute the ratio of cash to monthly cash expenses. b. Interpret the results computed in (a).What is the IRR of the following set of cash flows? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Cash Year Flow $17,100 1 7,800 9,100 7,600 3 IRR %
- If the cash account balance on the balance sheet is $25,000, total current assets is $150,000, and total assets equals $500,000, using vertical analysis determine the percentage for cash. Group of answer choices 5% 17% 30% none of theseUse hypothetical numbers(1) During Year 1, Hardy Merchandising Company purchased $15,000 of inventory on account. (2) Hardy sold inventory on account that cost $11,300 for $16,900. (3) Cash payments on accounts payable were $9,400. (4) There was $15,000 cash collected from accounts receivable. (5) Hardy also paid $3,500 cash for operating expenses. Assume that Hardy started the accounting period with $24,500 in both cash and common stock. Required: a. Identify the events described in the preceding paragraph and record them in a horizontal statements model like the following one. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA), b. What is the balance of accounts receivable at the end of Year 1? c. What is the balance of accounts payable at the end of Year 1? d. What are the amounts of gross margin and net income for Year 1? e. Determine the amount of net cash flow from operating activities. Complete this…
- Explanation general AccountingWhat is the IRR of the following set of cash flows? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Year 0 1 2 3 IRR Cash Flow -$ 15,900 6,600 7,900 6,400ACCOUNTING ASAP Assume the following data: EBIT = 100; Depreciation = 40; Interest = 20; Dividends = 10. Calculate the cash coverage ratio. Select one: a. 7.0x b. 4.7x c. 14.0x d. 5.0x