Required information [The following information applies to the questions displayed below.] The following information pertains to the inventory of Parvin Company during Year 2. January 1 April 1 October 1 Beginning Inventory Purchased Purchased During Year 2, Parvin sold 3,500 units of inventory at $80 per unit and incurred $46,000 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $84,000, inventory of $11,100, common stock of $59,000, and retained earnings of $36,100. d. Determine the cash flow from operating activities under FIFO and LIFO. (Amounts to be deducted should be indicated with minus sign.) Parvin Company Cash Flows from Operating Activities FIFO 300 units @ $37 2,900 units @ $42 500 units @ $45 Cash flows from operating activities: Cash inflow from customers Cash outflow for inventory Cash outflow for operating expenses Cash outflow for income tax expense Net cash flow from operating activities $ 280,000 $ $ (46,000) (26,280) 207,720 LIFO 280,000 (46,000) (25,800) $ 208,200

Required information [The following information applies to the questions displayed below.] The following information pertains to the inventory of Parvin Company during Year 2. January 1 April 1 October 1 Beginning Inventory Purchased Purchased During Year 2, Parvin sold 3,500 units of inventory at $80 per unit and incurred $46,000 of operating expenses. Parvin currently uses the FIFO method but is considering a change to LIFO. All transactions are cash transactions. Assume a 30 percent income tax rate. Parvin started the period with cash of $84,000, inventory of $11,100, common stock of $59,000, and retained earnings of $36,100. d. Determine the cash flow from operating activities under FIFO and LIFO. (Amounts to be deducted should be indicated with minus sign.) Parvin Company Cash Flows from Operating Activities FIFO 300 units @ $37 2,900 units @ $42 500 units @ $45 Cash flows from operating activities: Cash inflow from customers Cash outflow for inventory Cash outflow for operating expenses Cash outflow for income tax expense Net cash flow from operating activities $ 280,000 $ $ (46,000) (26,280) 207,720 LIFO 280,000 (46,000) (25,800) $ 208,200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A Home - myPen X D2L Discussions - S X D2L PPT Notes - Ch x CH 3 EXAMPLE X Mail - Matthew X M Question 8 - E X Connect - Gett x + Q https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fne... A ☆ [] EXAM #3 - PART II (37 PTS - 70 MIN) i Saved Help Save & Exit Submi 00 5 points Cotrone Beverages makes energy drinks in three flavors: Original, Strawberry, and Orange. The company is currently operating at 75 percent of capacity. Worried about the company's performance, the company president is considering dropping the Strawberry flavor. If Strawberry is dropped, the revenue associated with it would be lost and the related variable costs saved. In addition, the company's total fixed costs would be reduced by 15 percent. Segmented income statements appear as follows: Product Sales Variable costs 00:17:23 Contribution margin Fixed costs allocated to each product line Operating profit (loss) Original $33,000 23,100 $ 9,900 4,200 $ 5,700…
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u Online Cour X (78) Whats x M Your AccoL X M Inbox (2,74 X SP2021-AC X Answered: Ek My Home * CengageN X Bartleby Q x + D X A v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?inprogress=true FMovies | Watch M. BIO201 Connect 10. M Gmail > YouTube Fourth Homework O eBook Patents 6. MC.12.06 Instructions Chart Of Accounts General Journal 7. MC.12.07 Instructions 8. MCС.12.08 Mystic Pizza Company purchased a patent from Prime Pizza Plus on January 1, 2019, $72,000. The patent has a remaining legal life of 9 years. 9. МC.12.09 Required: 10. MC.12.10 Prepare the journal entries to record the acquisition and the amortization for 2019, assuming Mystic Pizza amortizes its patents using the 11. RE.12.01.BLANKSHEET straight-line method over the life of the asset. 12. RE.12.02 13. RE.12.03.BLANKSHEET 14. RE.12.04.BLANKSHEET 15. RE.12.05.BLANKSHEET 16. RE.12.06.BLANKSHEET 17. RE.12.07.BLANKSHEET 18. RE.12.08 O V I 12:52
Tab Window Help A Mon 28 Mar 9:1 Queştion X C The Presi X C The Presi X C The Presi X C The Presi X Tm FINA306 X m https://Im X + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser%3D0&launchUrl=https%253A%... ☆ * O キ口2 Saved Help Save & Exit Submit Check my work Problem 6-15 Project NPV and IRR A project requires an initial investment of $100,000 and is expected to produce a cash inflow before tax of $27,400 per year for five years. Company A has substantial accumulated tax losses and is unlikely to pay taxes in the foreseeable future. Company B pays corporate taxes at a rate of 21% and can claim 100% bonus depreciation on the investment. Suppose the opportunity cost of capital is 10%. Ignore inflation. ed a. Calculate project NPV for each company. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) NPV ces Company A Company B
ucation.com/ext/map/index.html?_con3con&external_browser%3D0&launchUrl=https%253A%252F%252Fbbhosted.cuny.edu%252Fwebapps%252Fporta2521 Login - Module 5 Chap 1& Office templates & .. Saved Help Save & Exit Chapter 5 FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2 1.06090 0.94260 3 1.09273 0.91514 2.0300 1.91347 2.0909 1.97087 3.0909 2.82861 3.1836 2.91347 4 1.12551 0.88849 4.1836 3.71710 4.3091 3.82861 5 1.15927 0.86261 5.3091 4.57971 5.4684 4.71710 5.57971 6 1.19405 0.83748 7 1.22987 0.81309 8 1.26677 0.78941 9 1.30477 0.76642 10 1.34392 0.74409 | 11.4639 11 1.38423 0.72242 12.8078 12 1.42576 0.70138| 14.1920 6.4684 5.41719 6.6625 7.6625 6.23028 7.8923 6.41719 8.8923 7.01969 9.1591 7.23028 10.1591 7.78611 |10.4639 8.01969 8.53020 11.8078 8.78611 9.25262 13.1920 9.53020 9.95400 14.6178 10.25262 16.0863 10.95400 13 1.46853 0.68095| 15.6178 10.63496 14 1.51259 0.66112 17.0863 11.29607 17.5989 |11.63496 15 1.55797 0.64186 18.5989 11.93794 16…
Ly Resu X Crea X F Are LU Resi X PQ Stea X Hov X n Hov X Bb Pres X Bb Pres X 9 Que X 9 Proc X Ô https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%25... Chapter 9 Homework Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Gluon Inc. is considering the purchase of a new high pressure glueball. It can purchase the glueball for $110,000 and sell its old low- pressure glueball, which is fully depreciated, for $20,000. The new equipment has a 10-year useful life and will save $24,000 a year in expenses. The opportunity cost of capital is 10%, and the firm's tax rate is 21%. What is the equivalent annual saving from the purchase if Gluon can depreciate 100% of the investment immediately. (Do not round intermediate calculations. Round your answer to 2 decimal places.) oints X Answer is complete but not entirely…
Topic: Uni X U2_AS i Topic: Uni X M Question X M Question x M Question √x ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https% 253A%252F%252Flms.mheducation.com%252Fmghmiddle Complete this question by entering your answers in the tabs below. Required 1 Required 2 F2 Moab Incorporated manufactures and distributes high-tech biking gadgets. It has decided to streamline some of its operations so that it will be able to be more productive and efficient. Because of this decision it has entered into several transactions during the year. a. Moab Incorporated sold a machine that it used to make computerized gadgets for $30,600 cash. It originally bought the machine for $21,400 three years ago and has taken $8,000 in depreciation. b. Moab Incorporated held stock in ABC Corporation, which had a value of $23,000 at the beginning of the year. That same stock had a value of $26,230 at the end of the year. c. Moab Incorporated sold some of its inventory for $9,200…
1 AF Pri X M Question 1- Chapter 7, Assign X Maps Porter's Five Forc... Assignment 2 A Log in to Canvas .mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252Fmghmiddleware 80 M a X Required information [The following information applies to the questions displayed below.] Leach Incorporated experienced the following events for the first two years of its operations. Year 1: 1. Issued $16,000 of common stock for cash. 2. Provided $84,600 of services on account. 3. Provided $42,000 of services and received cash. + Saved 4. Collected $75,000 cash from accounts receivable. 5. Paid $44,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense accounts. Prev *********** Year 2: 1. Wrote off an uncollectible account…
O PowerPoint O from Towards a O Mail - Edjouline X E Content - ACG: X * CengageNOWv. x D (58) YouTube v2 cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. Q < * * C WouTube O Maps ANKSHEET Entries for Notes Receivable Spring Designs & Decorators issued a 120-day, 4% note for $60,000, dated April 13 to Jaffe Furniture Company on account. Assume a 360-day year when calculating LANKSHEET interest. LGO a. Determine the due date of the note. LGO b. Determine the maturity value of the note. cl. Journalize the entry to record the receipt of the note by Jaffe Furniture. c2. Journalize the entry to record the receipt of payment of the note at maturity. If an amount box does not require an entry, leave it blank. 24 068 s: 912 items Previous Next 回习 9 O 11:49