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podryga [215]
1 year ago
15

Selected data taken from the accounting records of Laser Inc. for the current year ended December 31, are as follows: Balance, D

ecember 31 Balance, January 1 Accrued operating expenses $5,590 $6,110 Accounts payable (merchandise creditors) 41,730 46,020 Inventories 77,350 84,110 Prepaid expenses 3,250 3,900 During the current year, the cost of merchandise sold was $448,500, and the operating expenses other than depreciation were $78,000.
The direct method is used for presenting the cash flows from operating activities on the statement of cash flows.

Required:

Determine the amount reported on the statement of cash flows for:

(1) Cash payments for merchandise; and

(2) Cash payments for operating expenses.
Business
1 answer:
Olin [163]1 year ago
5 0

Answer:

1. Cash payments for merchandise is $446,030

2.Cash payment for operating expense is $77,870

Explanation:

1. In order to calculate the Cash payments for Merchandise we would have to use the following formula:

   

Cash payments for Merchandise= cost of goods sold +decrease in accounts payable-decrease in inventory

Cash payments for Merchandise=$448,500+$4,290-$6,760  

Cash payment for Merchandise=$446,030

2. In order to calculate the Cash payments for operating expenses we would have to use the following formula:

Cash payment for operating expense=operating expense - decrease in prepaid expense +decrease in Accured

Cash payment for operating expense=$78,000 -$650+$520  

Cash payment for operating expense=$77,870

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Answer:

1. Owners of diminutive businesses located nearby.

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Explanation:

Hope this helps

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2 years ago
Rhashan wants to improve the readability of the documents used by his organization. In 5–10 sentences, describe ways in which Rh
slega [8]
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2 years ago
Upon taking over the company, CEO Khosrowshahi said, "Rather than ditching everything, I'm focused on preserving what works whil
nata0808 [166]

Answer: b. evidence-based

Explanation:

Evidence based management refers to the use of pragmatism in the making of decisions and basing those decisions on actual evidence.

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4 0
1 year ago
2. Using the 3-x-3 Writing Process as a Guide
Alexandra [31]

Answer:1) Economy

2)The writing should be arranged on three subhead,prewriting,main writing and conclusion.

3) 15minutes

Explanation:in the first scenario, involves an intern,the cost to the customer,of the repair was not stated ,so the economy aspect wasn't addressed in the letter.

2) Business letters should follow a pattern,why,how and when.why tells the recipient the purpose if the letter while the How depicts how the writer intends to gather his thoughts on how to go about the writing.thus depend on the audience and the when is about when the to send the mail,it must be timely and must meet the requirements of the business.

3)The pre writing will take 15 minutes that is a quarter of an hour to put his thoughts together in writing.the pre writing is when the main ideas are pen down ,it is when the bulk of the work is done.every other aspect will depend on this stage

6 0
1 year ago
John purchased 12372 kWh of electricity and 3568 CCF of natural gas in a year. The cost of electricity is 7.1 cents/kWh and that
stealth61 [152]

Answer:

A is correct option 15.6$

Explanation:

According to question,

Electricity purchased =12372 kwh

Cost of electricity = 7.1 cent/kwh =0.071dollar/kwh

Natural gas purchased = 3568 CCF

Cost of natural gas = 1.5 dollar/CCF

BTUs purchased per dollar

=((12372*3412)+(3568*100000))/((12372*0.071)+(3568*1.5))

=64042.8376 BTUs/ dollar

Now, cost of 1MMBTUs =1000000/64042.8376

= 15.6 dollar

5 0
1 year ago
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