1.3Comment on the following:1.3.1Cash flows from operating activities R756 000(4 marks)1.3.2Increase in receivables (R396 000)(4 marks)1.3.3Cash flows from investing activities (R1 368 000)(4 marks)
Q: Exercise 6-11 (Algo) Segmented Income Statement [LO6-4] Wingate Company, a wholesale distributor of…
A: Contribution means the difference between the selling price and variable cost. Break even point…
Q: A VACUUM MANAUFACTUER HAS PREPARED THE FOLLOWING HAS THE FOLLOWING COST DATA FOR MANUFACTURING ONE…
A: The objective of the question is to calculate the total cost of manufacturing the engine components…
Q: Case Study: Audit Procedures for Internal Control Over Financial Reporting In the audit process,…
A: Eliminating the incorrect options:B) Control environment: This option is incorrect. While the…
Q: Margin, Turnover, Return on Investment Pelak Company had sales of $4,945,000, expenses of…
A: 1. Operating Income: The profit earned from business operations after deducting operating expenses…
Q: 3-a. What is the dollar amount of shrinkage that you were able to determine in perlodic inventory…
A: In a periodic inventory system, inventory is physically counted at certain intervals. In a perpetual…
Q: Reporting Issuance and Retirement of Long-Term Debt On the basis of the details of the following…
A: The objective of the question is to determine the cash flows related to the issuance and retirement…
Q: Domingo Corporation uses the weighted-average method in its process costing system. This month, the…
A: The equivalent units are calculated on the basis of the percentage of the work completed during the…
Q: At December 31, 2024, Hull-Meyers Corporation had the following Investments that were purchased…
A: Refer to the explanation block Explanation:
Q: [The following information applies to the questions displayed below.] The following information is…
A: The journal entries are prepared to record the transactions on a regular basis. The direct costs are…
Q: "I think we goofed by hiring the new assistant controller," said Ruth Scarpino, president of Provost…
A: Transferred in CostsMaterialConversionTotalWorking #1aEquivalent units of production…
Q: Pratt Company acquired all of the outstanding shares of Spider, Inc., on December 31, 2021, for…
A: Here's the consolidated balance sheet for Pratt and Spider as of December 31, 2021:Explanation:…
Q: Li Corp. purchased a container load of antiques for resale at an invoice cost of $1,500,000. The…
A: The IFRS standard (IAS 23) guides to perform adjusting entry for capitalization of borrowing costs…
Q: Hemal Thomas is an employee in British Columbia. The net pay calculation is for their first bi-…
A: Overtime payment:Overtime pay is the payment given to employees by the employer who works extra…
Q: Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement…
A: Cost of goods manufactured means the cost incurred for manufacturing the finished product.Cost of…
Q: Little League Apparel has two classes of stock authorized: 6%, $10 par preferred, and $1 par value…
A: Shareholder's Equity:Shareholder's equity is the difference between assets and liabilities.…
Q: Forest Company has five products in its inventory. Information about ending inventory follows.…
A: Lower of cost or market is an approach to valuation of inventory. The concept of lower of cost and…
Q: Dakota is an unmarried taxpayer with one dependent child, age 18, living in Dakota's home. Dakota…
A: Ms. Dakota qualifies as a head of household as she is unmarried and have a independent child.AGI =…
Q: Coleen works for a newspaper in Hamilton, Ontario. Last year (2022), Coleen expects to earn $42,000.…
A: Answer: None of the above are correct Coleen's required contribution to the Canada Pension Plan…
Q: Based on the information provided above, provide the correct summary journal entries for actual and…
A: Journal entries are prepared by ensuring that the double-entry bookkeeping principle is used. This…
Q: Prepare the budgetary entries for 2023 assuming that the bonds were scheduled to be issued on…
A: Journal entry is a chronological record of the financial transactions of a business over a period of…
Q: Assessment #1 _Cost Classification Inventory valuation PART 2 The Angla Ruston University operates a…
A: 250000+0.15x=340000We can solve the equation by rearranging the terms, adding/subtracting to both…
Q: Weber Corporation uses the retail inventory method to estimate its inventory balances. The following…
A: Conventional Retail Inventory MethodConventional The Retail Inventory Method is to calculate the…
Q: A VACUUM MANAUFACTUER HAS PREPARED THE FOLLOWING HAS THE FOLLOWING COST DATA FOR MANUFACTURING ONE…
A: Businesses utilise the make vs. buy strategic process to decide whether to manufacture a product or…
Q: Date November 1 November 2 November 8 November 12 Activities Beginning inventory Purchase Sales…
A: Under the LIFO method, the newest products in inventory are sold first.
Q: Cheyenne Company manufactures a single product by a continuous process involving two production…
A: Journal entries are the primary reporting of the business transactions in the books of accounts.…
Q: rofit or loss contract m
A: Contract price402000Cost incurred in 2020252000Estimated additional cost to complete162405Total cost…
Q: You have the following information for Wildhorse Inc. for the month ended October 31, 2025.…
A: Weighted-average cost (WAC):Weighted Average Cost (WAC) method is a method of valuation of inventory…
Q: Required information The Foundational 15 (Static) [LO5-1, LO5-2, LO5-3, LO5-4, LO5-5, LO5-6, LO5-7]…
A: Contribution margin is calculated by deducting variable cost from sales revenue.Net operating income…
Q: Activity-based costing:factory overhead costs The total factory overhead for Cypress Marine Company…
A: Overheads are considered as fixed and common expenses that should be allocated to the products on…
Q: Paloma Company has four employees. FICA Social Security taxes are 6.2% of the first $137,700 paid to…
A: Payroll refers to a list that contains the names of employees along with the compensation that is…
Q: Required information Problem 5-67 (LO 5-3) (Algo) [The following information applies to the…
A: In this situation, Terry's boss paid the $4,830 in premiums for Terry's incapacity protections…
Q: Assume Sunset Cor on January 1,2024. holding the bond in 1. At what amoun 2. What is the am ended…
A: There are two questions but only first question is solved due to our protocol.The bonds expense…
Q: can you put it into table form please
A: Trading SecuritiesSecurity ASecurity BSecurities Available-for-SaleSecurity CSecurity DSecurities to…
Q: 20-26 JIT production, relevant benefits, relevant costs. The Knot manufactures men's neckwear at its…
A: The objective of the question is to calculate the net benefit or cost to The Knot if it adopts JIT…
Q: March 1 March 5 March 9 March 17 March 22 March 27 March 30 Beginning inventory Sale ($400 each)…
A: The specific identification method relates to inventory valuation, specifically keeping track of…
Q: The journal entry to issue $700 of direct materials and $80 of indirect materials to production…
A: The journal entries are prepared to keep the record of day to day transactions of the business.
Q: Spectrum Corp. makes two products: C and D. The following data have been summarized: (Click the icon…
A: Gross profit is the difference between sales revenue and cost of goods sold. The cost of goods sold…
Q: Macalister Corporation is developing departmental overhead rates based on direct labor hours for its…
A: The overhead may be allocated using direct method or reciprocal method. The reciprocal method is an…
Q: Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care…
A: The objective of the question is to calculate the increase or decrease in amount and percentage for…
Q: I. Discuss the appropriate accounting treatment for the above. II. Prepare the 2023 journal entry…
A: There are situations when a company computes that if there is a change in the depreciation method…
Q: Date Account Titles and Explanation 2025 Salaries and Wages Expense 2026 Salaries and Wages Payable…
A: Every single business transaction's relevant information is contained in a journal entry, which…
Q: Mirabile Corporation uses activity based costing to compute product margins Overhead costs have…
A: Overhead costs means all type of indirect costs and expenses being incurred in business. These costs…
Q: Sally Company sells 37,000 units at $50 per unit. Variable costs are $34.00 per unit, and fixed…
A: Under the variable costing, contribution margin is the difference between sales and variable costs.…
Q: On January 1, the Matthews Band pays $65,600 for sound equipment. The band estimates it will use…
A: The depreciation expense is charged on the fixed assets as reduction in the value of the fixed…
Q: Green Products, Incorporated has current liabilities = $40 million, current ratio = 2.4 times,…
A: Through ratio analysis, we can determine the value of cash and marketable securities by initially…
Q: Explain and critically assess the general idea behind transfer pricing. Would it be beneficial for…
A: The objective of this question is to understand the concept of transfer pricing, its benefits, and…
Q: The balance sheet of Logan Company reports total assets of $750,000 and $800,000 at the beginning…
A: The cash flow statement is prepared to record the cash flow from various activities during the…
Q: financial statement below represents the performance of Yovela & Co in 2023. Yovela and Co Income…
A: ASSETSNon-Current Assets Delivery Van 44,500Current Assets Inventories…
Q: Required information [The following information applies to the questions displayed below.] Clopack…
A: WEIGHTED AVERAGE METHOD :— Under this method, equivalent units are calculated by adding equivalent…
Q: L Moving to another question will save this response. Question 24 The Rest-a-Lot chair company…
A: There are two methods of equivalent units one is weighted average method other one is first in first…
1.3
Comment on the following:
1.3.1
Cash flows from operating activities R756 000
(4 marks)
1.3.2
Increase in receivables (R396 000)
(4 marks)
1.3.3
Cash flows from investing activities (R1 368 000)
(4 marks)
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- Mr. Matagumpay gave to his accountant the following data for the year ended December 31, 2019. P 385,000 175.000 P 210,000 (5,000) (95.000) P110,000 Other Information: Accounts Receivable, 2018 Accounts Receivable, 2019 Accounts Payable, 2018 Accounts Payable, 2019 Inventory Sales Cost of Goods Sold Gross Profit Depreciation Expense Operating Expenses Net Income P 75,000 90,000 45,000 55.000 50,000EB5. LO 16.3 What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets? Accounts payable, beginning of year Accounts payable, end of year Salaries payable, beginning of year Salaries payable, end of year $18,000 28,000 6,000 4,0003. Following information is available in respect of A LtdParticulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in Financial Assets - 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15a. Prepare the cash flow from financing activities from the above information and give reasons for each element whether these elements belongs to financing activities or not
- Put this transaction on the accounting equation: Invested R500000 into capital as a fixed depositThe following information is available from the current period financial statements: $ 116,406 25,140 25,519 23,537 Net income Depreciation expense Increase in accounts receivable Decrease in accounts payable The net cash flow from operating activities using the indirect method is Oa. $190,602 Ob. $92,490 Oc. $116,406 Od. $93,2483. Following information is available in respect of A LtdParticulars As on 31.3.2019(Rupees. In Lacs)As on 31.3.2020(Rupees. In Lacs)Investment in FinancialAssets- 100Equity Share Capital 150 160Long term Loans taken 100 200Dividend paid - 26Dividend received - 10Interest received - 15a. Prepare the cash flow from financing activities from the above information and givereasons for each element whether these elements belongs to financing activities or not. b. Calculate the relationship between the debt and equity for the year 2019 and 2020, andcomment
- Given the following information ZO12345 N 0 Net cash flow 500 0 500 0 500 0 a. Determine the equal cash flow A from 0 to 5 at an interest of 10% b. Determine the equal cash flow (from 1 to 5) when considering at interest of 10%What is the Net Present Value of the following cash flow stream? Year Cash Flow 0 -$1,977 1 $421 2 $889 3 $517 4 $939 Assume an interest rate of 3%The following information is available from the current period financial statements: Net income $106,740 Depreciation expense 37,256 Increase in accounts receivable 16,396 Decrease in accounts payable 24,416 The net cash flows from operating activities using the indirect method is Oa. $184,808 Ob. $77,504 Oc. $103,184 Od. $53,088
- 1. Explain the meaning of the following terms by providing examples in each case: 1.1. WACC 1.2. Perpetuity 1.3. Government bonds 1.4. Time value of money 1.5. Single amount 1.6. Mixed stream1.7. Annuities1. How much is the net share in the profit or loss of the associate (investment income) in 2021? P480,000 P825,000 P420,000 P135,000 2. How much is the carrying amount of the investment as of December 31, 2021? P7,815,000 P8,025,000 P7,680,000 P7,125,000Smith Enterprises reports the following information: Net income Depreciation expense Increase in accounts payable Increase in accounts receivable $5240000 O $5790640. O $4063360. O $6416640. O $5240000. 712640 151000 313000 Smith should report cash provided by operating activities of