Answer:
Option (c) is correct.
Explanation:
The net impact in Cash flow statement (Cash flow financial activities will be:
= Amount received from issuing bonds + Amount received from issuing common stock + Paid for dividend
= $250,000 + $260,000 + $165,000
= $345,000
Note:
Long-term bond & issue of common stock are Cash inflow from financial operations.
Dividend paid is regarded as Cash outflow from financial operations.
Answer:
$9,000 unfavorable
Explanation:
The computation of the total fixed overhead variance is shown below:
= Actual fixed overhead costs - Budgeted fixed overhead
where,
Budgeted fixed overhead is $360,000
And, the Actual fixed overhead cost is computed below:
= Actual fixed overhead × Actual production ÷ budgeted production
= $360,000 × 11,700 units ÷ 12,000 units
= $351,000
Now put these values to the above formula
So, the value would equal to
= $351,000 - $360,000
= $9,000 unfavorable
Answer:
$56,000
Explanation:
Given the above information, we will calculate first the total cash flow.
Total cash flow = Opening cash receivable + Sales - Ending cash receivables
= $196,000 + $880,000 - $226,000
= $850,000
Ending cash balance = Opening cash balance + Total cash flow - Cash disbursement
= $146,000 + $850,000 - $940,000
= $56,000
Answer:
$114,000
Explanation:
Given that,
Net credit sales = $2,250,000
Opening allowance for Doubtful Accounts = $36,000
Uncollectible accounts receivable written off = $90,000
Firstly, we need to find the excess amount to be adjusted to allowance for Doubtful Accounts. It is calculated as follows:
= Uncollectible accounts receivable written off - Opening allowance for Doubtful Accounts
= $90,000 - $36,000
= $54,000
Allowance amount:
= 10% of the balance in receivables
= 0.1 × $600,000
= $60,000
Therefore, the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017 is determined by summing up the excess amount and allowance amount.
= Excess amount to be adjusted to allowance for Doubtful Accounts + Allowance amount
= $54,000 + $60,000
= $114,000
Answer:
Debit to Cash $100, Credit to Petty cash $100
Explanation:
A company wants to decrease its $200.00 petty cash fund to $100.00. The entry to reduce the fund is:
Date Journal Entry Debit Credit
Cash $100
Petty cash $100
