Instructions: Answer the following. i. Highlight all the mistakes if any in the above cash flows statement. ii. Did investing activities cause the company's cash to increase or decrease? Why is it so? iii. Why net cash balance from investing activities is mostly negative? iv. Which GAAP principle is clearly reflecting from above statement? Explain that GAAP principle figured out in (vii)? vi. Why owner invested 80,000 dollars? Why there is no dollar sign with this amount? vii. What do we have to do with final balance? viii. v. What is the reason of mentioning investing activities in the middle? ix. What is the reason of mentioning the financing activities in the end? Why not to mention at the top! Is there any major concern? Or All is well after rectifying mistakes? х.

Instructions: Answer the following. i. Highlight all the mistakes if any in the above cash flows statement. ii. Did investing activities cause the company's cash to increase or decrease? Why is it so? iii. Why net cash balance from investing activities is mostly negative? iv. Which GAAP principle is clearly reflecting from above statement? Explain that GAAP principle figured out in (vii)? vi. Why owner invested 80,000 dollars? Why there is no dollar sign with this amount? vii. What do we have to do with final balance? viii. v. What is the reason of mentioning investing activities in the middle? ix. What is the reason of mentioning the financing activities in the end? Why not to mention at the top! Is there any major concern? Or All is well after rectifying mistakes? х.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

How would I calculate this problem? I just guessed on which answer made sense to me. Please help. thank you in advance.
Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!
arrow_forward Oh no! Our expert couldn't answer your question. Don't worry! We won't leave you hanging. Plus, we're giving you back one question for the inconvenience. Here's what the expert had to say: Hi and thanks for your question! Unfortunately we cannot answer this particular question due to its complexity. We've credited a question back to your account. Apologies for the inconvenience. Ask Your Question Again 5 of 10 questions left until 5/23/21 Question The management accountant at Miller Merchandising & More, Odail Russell is in the process ofpreparing the cash budget for the business for the fourth quarter of 2021. It is customary for thebusiness to borrow money during this quarter. Extracts from the sales and purchases budgets areas follows:Month cash sales sales on account purchasesAugust $85,000 $640,000 $420,000September $70,000 $550,000…
7:27 f t < Session[1].docx - Word ✓ Qo 138 - 21 Paragraph O References Mailings Review View Help BLUEBEAM One day you're going to miss my boring texts ## TO Accessibility: Investigate Search Costs to date Estimated costs to complete Progress billings during the year Cash collected during the year hoher webb ng Normal ||| No Spacing Styles Acrobat 2021 $ 980,000 3,020,000 1,000,000 648,000 Go to website O Heading 1 √ Calculate the amount will be reported for accounts receivable on the statement of financial position at December 31, 2022. 3. Accounts Receivable on the Statement of Financial Position at December 31, 2022 for Newton Corp.: Accounts Receivable is calculated as the cumulative billings to date minus the cumulative cash collected: Accounts Receivable at December 31, 2022 = Cumulative Billings- Cumulative Cash Collected Accounts Receivable at December 31, 2022 = ($1,000,000+ $1,000,000) - ($648,000+ $1,280,000) = $2,000,000 - $1,928,000 = $72,000 Therefore, the amount reported…
Give me right solution urgent please
An online virus-scan service provider, Whispering, is expanding its offerings to include an optimizing service to users-it can scan the consumer's hard drive for duplicate files, suggest more efficient ways to save or archive photos and movies, and much more. The problem is that the company's own cost information has been lost-not due to a virus but due to human error. Charlee, the office manager, is trying to recreate some of the information to use in pricing Whispering's newest optimizing service. Here is what she was able to dig up: Known Information for Virus-ScanService Selling price $30 per scan Gross margin % 50 % Costs of Optimizing Service Labor cost $5 per scan MOH cost (includes software, utilities, etc.) $25 per scan (a) For Whispering's virus-scan service, calculate the current cost-plus markup percentage (based on service cost rather than full cost, since the selling and administrative expense information has been lost). (Round answer to O decimal places, e.g. 15%.)…
what exactly is a cookie jar reserve? Does using a cookie jar reserve follow GAAP? Does using a cookie jar reserve appear to be an ethical practice? Support your opinion. Your post should be more than a single sentence.
The systems programmer uses a hashing algorithm to determine storage addresses. The hashing structure is 9,997/key. The resulting number is then used to locate the record. The first two digits after the decimal point represent the cylinder number, while the second two digits represent the surface number. The fifth, sixth, and seventh digits after the decimal point represent therecord number. This algorithm results in a unique address 99 percent of the time. What happens the remainder of the time when the results of the algorithm are not unique? Explain in detail the storage process when key value 3 is processed first, key value 2307 at a later date, and shortly thereafter key value 39.
Oh no! Our expert couldn't answer your question. Don't worry! We won't leave you hanging. Plus, we're giving you back one question for the inconvenience. Here's what the expert had to say: Hi and thanks for your question! It looks like you're asking for help with using the site. You can reach our support team at the Contact Bartleby link at the bottom of the page. We've credited a question back to your account. Apologies for the inconvenience. Ask Your Question Again 13 of 30 questions left until Nov 14, 2021 Question complete a horizontal analysis for brown company. (negative answers should be indicated by a minus sign. leave no cells blank - be certain to enter "0" wherever required. round the "percent" answers to the nearest hundredth percent.) Current assets: 2020 2019 Increase (decrease) amount? Percent? Cash $14,150 $9,300 ?? Accounts receivable 16,950 12,800 ?? Merchandise inventory 18,050 21,450 ?? Prepaid advertising 52,600…
Munabhai
Can someone please help me with these questions? Thank you so much! Thumbs up if the answer is correct. For this question, you must use the data package "Cars93" available in the R package "MASS" followed by "dplyr" package. Find the number of cars that are USA company origin, whose max price is greater than 30, and Passenger capacity is greater than 4. Hint: Use "filter" function. 2 1 4 Pregunta 4 For this question, you must use the data package "Cars93" available in the R package "MASS" followed by "dplyr" package. On average, which manufacturer produces the heaviest car? Hint: Group and summarise. BMW 0000 Lexus Infiniti Dodge