Answer:
The Net Cash <em>used</em> in Financing activities is $30,800
Explanation:
<em>Step 1 Determine the Movement in Cash during the period.</em>
Movement = Ending Cash Balance - Beginning Cash Balance \
= 18,200 - 11,600
= 6,600 (inflow)
<em>Step 2 Determine the Cash flow in Financing Activities </em>
<u>Cash flow statement for the year</u>
Cash flow from Operating Activities $29,000
Net Cash flow from Investing Activities $ 8,400
Net Cash flow from Financing Activities (Balancing figure) ($30,800)
Movement in Cash during the year $6,600
Therefore, The Net Cash used in Financing activities is $30,800
Answer:
Hello your question is incomplete below is the complete question
Jim Connor is the owner of Wave Riders, a surf shop located in West Palm Beach, Florida. Jim has just received his end of the year financial statements from his accountant. When he sees his gross and net income he is dismayed. With almost $250,000 in gross profit he just doesn’t understand why he is always short on cash to pay his employees and suppliers. One of his largest suppliers of surf boards notified him just last month that they would no longer extend him credit and he would have to pre-pay all of his orders. He puts a call into his accountant to set up a meeting with her to discuss the financial health of his business
Average inventory turnover ratio : Wave riders = 2.5 , Industry = 6.85 ( as calculated )
answer: The recommendations that should be made to Jim to help him improve the company's financial performance is, Jim should work on selling off his old inventories before ordering more
Explanation:
The recommendations that should be made to Jim to help him improve the company's financial performance is, Jim should work on selling off his old inventories before ordering more, this is because The Average inventory turnover ratio for Waveriders is lower than the Industry's Average inventory turnover ratio. and this is caused by inadequate inventory management ( overstocking or low sales ) and this is affecting The financials of Waveriders
Answer:
The Correct Answer:
$40,000
Explanation:
IRC Section 1250 requires that excess depreciation (actual depreciation in excess of straight-line depreciation) be recaptured as ordinary income. Since the property has sold for more than the adjusted basis ($300,000 − $40,000 = $260,000 adjusted basis), the initial gains are recaptured based on the original purchase price of $300,000.
<em>This makes the first $40,000 of the profit subject to the unrecaptured Section 1250 gain while the remaining $20,000 is considered regular long-term capital gains.
</em>
<span>Here are the choices on the given question:
A. lender
B. investor
C. insurer
D. borrower
When the customer opens a bank savings account, the bank, essentially becomes an investor. So the answer is B.
Investor because the amount of money that you put in your savings account is being invested by the bank to gain interest.</span>
