Answer:
statement of cash flows using the indirect method
Cash flow from Operating Activities
Cash Receipts from Customers $145,200
Cash Paid to Supplies and Employees ($108,900)
Net Cash from Operating Activities $36,300
Cash flow from Investing Activities
Proceeds from Sale of Equipment $5,100
Net Cash from Investing Activities $5,100
Cash flow from Financing Activities
Dividends Paid ($12,000)
Net Cash from Financing Activities ($12,000)
Movement during the period $29,400
Cash and Cash Equivalents at Beginning of the Period 0
Cash and Cash Equivalents at the End of the Period $29,400
Explanation:
Cash Receipts from Customers Calculation :
Sales revenue $ 145,200
Assuming Cash Sales
Cash Paid to Supplies and Employees Calculation :
Cost of goods sold $105,000
Add Selling Expenses $10,800
Add Administrative expenses $3,600
Less Depreciation ($10,500)
Cash Paid to Supplies and Employees $108,900
The statement of cash flows for Crane Company using the indirect method starts with the net income and then adjusts for non-cash items such as depreciation and the gain/loss from equipment sale. The net Cash provided by operating activities would be $17,700. This method helps understand the cash movements within the company.
To prepare a statement of cash flows for Crane Company for the year ended December 31, 2022 using the indirect method, you first start with the net income from the income statement and then make adjustments for changes in non-cash items, add back depreciation expense (a non-cash item) and account for the gain/loss from the sale of equipment. The prepared statement would look like this:
The net Cash provided by operating activities would be $17,700 ($19,200 + $10,500 - $12,000). This method helps in revealing the sources and uses of cash within the company.
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Answer:
A buyer who has accepted goods may later revoke the acceptance if the buyer can show that the defects substantially impair the value of the goods and the buyer had a legitimate reason for the initial acceptance.
Explanation:
This statement is defined in § 2-608. Revocation of Acceptance in Whole or in Part. of Article 2 - Sales of the Uniform Commercial Code (UCC).
The buyer may revoke his acceptance of a lot or commercial unit whose non-conformity substantially impairs its value to him if he has accepted it
(a) on the reasonable assumption that its non-conformity would be cured and it has not been seasonably cured; or
(b) without discovery of such non-conformity if his acceptance was reasonably induced either by the difficulty of discovery before acceptance or by the seller's assurances.
(2) Revocation of acceptance must occur within a reasonable time after the buyer discovers or should have discovered the ground for it and before any substantial change in condition of the goods which is not caused by their own defects. It is not effective until the buyer notifies the sellerof it.
(3) A buyer who so revokes has the same rights and duties with regard to the goodsinvolved as if he had rejected them.
Explanation:
The journal entries are shown below:
On July 15:
Purchase A/c Dr $97,020
To Accounts payable $97,020
(By buying goods on credit with discount), the following are shown in the estimates of tire sales following application of the discount:
= Number of tires × price per tire - discount rate
= 2,200 tires × $45 - 2%
= $99,000 - $1,980
= $97,020
On July 23:
Account payable A/c Dr $97,020
To Cash A/c $97,020
(Being payment is made)
On August 15:
Account payable A/c Dr $97,020
Interest expense A/c Dr $1,980
To Cash A/c $99,000
(Being payment is made on late interval)
Complete the first column of the following table by computing the cross-price elasticity between splishy splashies and frizzles, and then between splishy splashies and kipples. In the second column, determine if splishy splashies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating should be recommended marketing with splishy splashies.Relative to Splishy Splashies Recommend Marketing with Splishy Splashies
Cross-Price Elasticity of Demand Complement or Substitute
Frizzles _____ _____ _____
Kipples _____ _____ _____
Answer and Explanation:
According to the given situation, when the amount of splishy splashies decrease by 5%, quantity of frizzles increases by 4%.
So, The cross price elasticity of frizzles relative to splishy splashies = Percentage change in quantity demand for frizzles ÷ Percentage change in price for splishy splashies
= 4 ÷ -5
= -0.80
Now,
Cross-price elasticity between splishy splashies and kipples = Percentage change in quantity demand for Kipples ÷ Percentage change in price for splishy splashies
= -6% ÷ -5%
= 1.20
b. Since there is negative cross-price elasticity between splishy splashies and frizzles, these products are complementary.
The elasticity of the cross-price between splendid splashies and kipples is positive, these goods being substitutes.
c. Here, I would therefore recommend Raskels marketing, since these two are used together.
The required Table are as shown below:-
Particulars Cross-Price Elasticity Complements Recommended
of Demand or Substitute Marketing with
splishy splashies
Frizzles 0.80 Complements Yes
Kipples 1.20 Substitute No
travel distances
insurance claims
a company's competitors
fraud
A-D
-financial records
-a company’s competitors
Answer:
Financial Records
A Company’s Competitors
Explanation:
I got it right on edge 2020 hope this helps!
Answer:
a. 110,000 units
b. 128,500 units
Explanation:
a. Compute the anticipated break even sales in unit
Break even point in unit = Total fixed cost / Contribution margin
Total fixed cost = $14,300,000
Contribution margin per unit = Unit selling price - Unit variable cost
= $380 - $250
= $130
Break even point in units = $14,300,000 / $130
= 110,000 units
b. Compute sales (units) required to realize income from operations of $2,405,000
Break even point + expected profits = (total fixed costs + expected profits) / Contribution margin
° total fixed cost + expected profits
= $14,300,000 + $2,405,000
= $16,705,000
°contribution margin per unit
= $380 - $250
= $130
Break even point + expected profits in unit
= $16,705,000 / $130
= 128,500 units