Chapter 10, Problem 6DYS

Hello expert solve with accounting question

Please explain the correct approach for solving this general accounting question.

Which of the following is true about the statement of cash flows?A) It is only useful for internal users.B) It shows how a company earned and spent cash during a period.C) It is the same as the income statement.D) It reports the company’s net income.

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Devlin Investments carries portfolios of both trading securities and available-for-sale securities. At the end of 2021 and 2020, the trading securities were valued at $382.7 billion and $459.3 billion, respectively; and the available-for-sale securities were valued at $173.8 billion and $92.6 billion, respectively. Together, the investments comprise about 30 percent of the company's total assets as of December 31, 2021. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2021.

Suppose that the Olympic Resources Corporation had sales of $5,762,450 and net income of $426,320 for the year ending December 31, 2011. Calculate the Profit Margin. Answer this accounting problem.

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Which of the following is an example of an intangible asset? A) Buildings B) Patents C) Equipment D) Inventory

Rivera Products sells its product for $18 per unit. Next year, fixed expenses are expected to be $395,000, and variable expenses are expected to be $11 per unit. How many units must the company sell to generate a net operating income of $85,000?