In 2014 Grider Corporation had cash receipts of $35,000 and cash disbursements of $20,000. Grider's ending cash balance at December 31, 2014 was $55,000. What was Grider's beginning cash balance? a. $40,000 b. $50,000 c. $75,000 d. $70,000
Q: Need help me to this question
A: Debt-to-Equity Ratio= Total Debt/Equity Total debt=$160,000 (mortgage) + $30,000 (other debt) =…
Q: Provide correct answer
A: Step 1: Given Value for Calculation Spending = s = $15 billionRevenue = r = $12 billion Step 2:…
Q: Need help this question
A:
Q: 5 PTS
A: Explanation of Gross Profit:The gross profit represents the amount a company earns from sales after…
Q: General Accounting
A: Step 1: Definition of Net IncomeNet Income is the amount of profit a company earns after deducting…
Q: Kennedy Inc has $23,800 of ending finished goods inventory as of Dec. 31, 2013. If beginning…
A: Concept of Cost of Goods Sold (COGS)Cost of Goods Sold (COGS) represents the direct costs incurred…
Q: Accounting question
A: CAPM Formula:Expected Return (Er) = Rf + β(Rm - Rf)Where:- Er = Expected return of the security- Rf…
Q: The Marchetti Soup Company entered into the following transactions during the month of June: (1)…
A: Let's analyze each transaction step by step and determine the impact on the accounting equation:…
Q: Need answer
A: Step 1: Definition of Owner's EquityOwner's equity represents the residual interest in a…
Q: Can you help me with accounting questions
A: Understanding the Accounting Equation The foundation of accounting lies in the accounting equation:…
Q: True answer general accounting? ?
A: Step 1: Define Applied OverheadApplied Overhead refers to the manufacturing overhead costs allocated…
Q: Can you please solve this questions?? #general account
A: Step 1: Definition of Dividend Per ShareThe dividend per share calculation involves dividing the…
Q: How much overhead should be applied to job no B12 ?
A: To determine how much overhead should be applied to Job No. B12, we need to follow these…
Q: none
A: Approach to solving the question:Freeform Detailed explanation: After expenses, the profit margin is…
Q: Calculate the debt to equity ratio for these financial accounting question
A: Step 1: Define Debt-to-Equity RatioThe Debt-to-Equity (D/E) Ratio is a financial metric that…
Q: Answer this all Question step by step
A: QUESTION 1 PLEASE NOTE: Please clarify with your examiner which predetermined overhead should be…
Q: MCQ
A: Explanation of Variable Costing:Variable costing is a cost accounting method where only variable…
Q: A company had an income of $72,000 using absorption costing for a given period. Beginning and ending…
A: Explanation of Income Under Absorption Costing:Income under absorption costing refers to the net…
Q: Ans
A: Concept of Gross Sales RevenueGross sales revenue represents the total revenue generated from all…
Q: Help me this question
A: Step 1: Definition of Cash Conversion Cycle (CCC)The Cash Conversion Cycle (CCC) measures how long…
Q: Determine the value of the companys inventory
A: Explanation of Lower-of-Cost-or-Market (LCM) Approach:The Lower-of-Cost-or-Market (LCM) approach is…
Q: Provide financial Accounting
A: Concept of Standard Costing SystemA standard costing system is a cost accounting method that assigns…
Q: What is the break even point in sales provide answer
A: The question requires the determination of the break even point in sales. Break-even point in sales…
Q: need help this questions financial accounting
A: Step 1: Definition of Conversion CostConversion cost refers to the total costs incurred to transform…
Q: What is the weighted average of the company's debt ? General accounting
A:
Q: Financial accounting
A: Step 1: Definition of Notes ReceivableNotes receivable are promissory notes that represent a written…
Q: Answer this MCQ
A: Approach to solving the question:Freeform Detailed explanation: Here's the step-by-step…
Q: Need help this question
A: Step 1: Determine the contribution margin.= sales x (1 - variable expense rate)= $400,000 x (1 -…
Q: Correct option? ?
A: Step 1: Define Ending Capital (Retained Earnings)The statement of retained earnings calculates the…
Q: Solve this
A: a.Standard direct labor rate per hourThe standard direct labor rate per hour is the total hourly…
Q: The estimated cost of kevin enterprises inventory on July 31 is?
A: Explanation of Gross Profit Method: The gross profit method is a technique used to estimate ending…
Q: What is the capital gain on this investment for this financial accounting question?
A: Step 1: Define Definition of Capital GainCapital gain refers to the profit earned from the sale of…
Q: What is the other comprehensive income?
A: Explanation of Other Comprehensive Income (OCI)Other Comprehensive Income (OCI) includes revenues,…
Q: How much of the expense listed....
A: To calculate how much of the expenses listed are included in Perry's general and administrative…
Q: What is the opereting cash flow
A: Let's calculate the Operating Cash Flow (OCF) for Summer Tyme, Inc.'s expansion…
Q: Provide correct answer general Accounting
A: Step 1: Define Gross ProfitGross profit is the difference between net sales and cost of goods sold…
Q: Calculate the profit margin
A: Sales = $4,558,780 Net Income = $314,155 Profit Margin = Net Income / Sales Profit Margin = $314,155…
Q: Maxwell distrubutors provides the following information
A: Explanation of Net Credit Sales: Net credit sales represent the total amount of all sales made on…
Q: What is the opereting cash flow general accounting
A: Step 1: Define Operating Cash FlowCash flow statements track the movement of money in and out of the…
Q: Accounting question
A: The question requires the determination of the beta of the stock using the CAPM. Beta (β) is the…
Q: If Salaries and Wages Expense is $448,600 during the year and the beginning and ending balances of…
A: Concept of Salaries and Wages ExpenseSalaries and Wages Expense represents the total compensation…
Q: What was the income from operations? Give me solution this question
A: Step 1: Define Contribution MarginThe remaining money accessible for fixed outlays after spending…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Accrual AccountingAccrual accounting recognizes revenue when it is earned and…
Q: What is the companys predetermined overhead rate?
A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a standard rate used…
Q: expert of general accounting answer
A: Step 1: Definition of Capital GainA capital gain occurs when a company sells an asset for more than…
Q: How much will regal enterprises record as goodwill?
A: Explanation of Outstanding Shares: Outstanding shares represent the total number of a company's…
Q: Subject: financial accounting
A: Step 1: Define Business Operating Cycle and Cash Conversion CycleBusiness Operating Cycle refers to…
Q: Don't use ai given answer accounting questions
A: Step 1: Definition of Profit CalculationProfit is the total revenue minus the total costs incurred.…
Q: I need help with accounting question
A: To calculate the Profitability Index (PI) of the investment, we first need to determine the present…
Q: Help
A: Detailed explanation:Q1Actual Overhead Spending, $85,500Applied Overhead = actual direct labor…
I want the correct answer with accounting question
Step by step
Solved in 2 steps
- Smoltz Company reported the following information for the current year: cost of goods sold, $252,500; increase in inventory, $21,700; and increase in accounts payable, $12,200. What is the amount of cash paid to suppliers that Smoltz would report on its statement of cash flows under the direct method? a. $218,600 c. $262,000 b. $243,000 d. $286,400Colbert Corporation had the following 2017 income statement. Revenues $100,000 Expenses 60,000 $ 40,000 In 2017, Colbert had the following activity in selected accounts. Check the below image for selected account's activity. Prepare Colbert’s cash flows from operating activities section of the statement of cash flows using (a) the direct method and (b) the indirect method.On December 31, 2021, Wellstone Company reported net income of $73,000and sales of$201,000. The company also reported beginning end ending occounts recelvable at$18,500and$26,500, respectively Welistone wil feport cosh collected trom customers in its 2021 statement of cash flows (direct method) in the amount of:
- 15. Zeta Company reported sales revenue of P4,600,000 in its income statement for the year ended December 31, 2011. Additional information is given below. Under the cash basis of accounting, what amount should be reported as sales revenue for 2011? a. 4,900,000 b. 4,350,000 c. 4,300,000 d. 4,280,000Diane's balance sheets as of December 31, 2016 and 2017 are presented below: 2016 310,000 300,000 0 2017 $443,456 430,000 100,000 17,356) 950,000 ( 318.100) $1.588.000 Cash Accounts receivable, net Long-term notes receivable Discount on long-term notes receivable Property, plant, and equipment at cost Accumulated depreciation 0) 750,000 325,000) $1035.000 TOTAL ASSETS 230,000 220,000 25,000 60,000 200,000 300,000 $1035.000 $175,000 310,000 15,000 110,000 315,000 663,000 $1.588.000 Accrued liabilities Unearned revenues Short-term debt Common stock, $1 par value Additional paid-in-capital Retained earnings TOTAL LIABILITIES & SE Diane's 2017 income statement is presented below: Service revenues Other revenues and gains/losses, net Selling, general, and administrative expenses Interest expense $1,800,000 1,987 1,209,000 1,000 588,013 125,013 463.000 Income before income taxes Income tax expense Net income SELECTED OTHER INFORMATION: 1 On January 1,2017, Diane provided services to a…What amount of net sales must Lincoln have recorded in 2024 on these general accounting question?
- Income tac was $300,409 for the year. Income tac payable was $28,102 and $42,997 at the beginning and end of the year,reapectively. Cash payants for income tac reportés on the statement pc cash flots usine the direct method la a. $ 285,514 b. 315,304 c. 300,409 d. 371,508Bannister Company reported operating expenses of $375,000 for 2020. The following data were extracted from the company's financial records: 12/31/19 12/31/20 $ 60,000 $ 69,000 Prepaid Expenses Accrued Expenses 210,000 255,000 On a statement of cash flows for 2020, using the direct method, cash payments for operating expenses should be O a. $339,000 O b. $321,000 O C. $411,000 O d. $429,000Hogan Company had the following account balances for 2021: Dec. 31 Jan. 1 Accounts receivable $ 44,000 $ 35,000 Accounts payable 60,000 55,000 Prepaid insurance 15,000 10,000 Hogan reported net income of $300,000 for 2021. Assuming no other changes in current account balances, what is the amount of net cash provided by operating activities for 2021 reported in the statement of cash flows?
- Sheridan Company has been operating for several years, and on December 31, 2025, presented the following balance sheet. Cash Receivables Inventory Plant assets (net) (a) (b) (c) (d) Current ratio Acid-test ratio SHERIDAN COMPANY Balance Sheet December 31, 2025 $40,600 Accounts payable 77,900 Mortgage payable 99,000 203,500 $421,000 The net income for 2025 was $23,155. Assume that total assets are the same in 2024 and 2025. Compute each of the following ratios. (Round answers to 2 decimal places, e.g. 1.59 or 45.87%.) Debt to assets ratio Return on assets Common stock ($1 par) Retained earnings % $75,000 % 114,450 142,500 89,050 $421,000In 2021, Lmao company reported cash basis income of P 7,800,000. Tracing back its records, accounts receivable and accounts payable on December 31, 2021 were P5,200,000 and P 1,950,000 respectively. During the year, the accounts receivable increased by 200% while accounts payable decreased by 50%. How much were net income using accrual method?n its CASH BASIS income statement for the year ended June 30, 2020, Selena Corp. reported revenue of $142,000 (i.e., total cash receipts from sales). Additional information was as follows: Accounts receivable June 30, 2019 $40,000 Accounts receivable June 30, 2020 $45,600 Under the ACCRUAL basis, Selena Corp. should report sales revenue of A. $147,600 B. $102,000 C. $182,000 D. $136,400
