Conceptual questions 1. What expense appears on a company's income statement when it doesn't collect all...

Conceptual questions

1. What expense appears on a company's income statement when it doesn't collect all of its credit sales?

1. a. What is the first performance measure in a balanced scorecard?

3b. What type of expense never has an activity variance on the flexible budget performance report?

Expert Solution

ekkarill92 answered 1 year ago

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on...

A company's income statement showed the following: net income, $124,000; depreciation expense, $30,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9,400; merchandise inventory increased $18,000; prepaid expenses decreased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities. Select one: a. $155,000. b. $145,800. c. $141,000. d. $139,000. Please Solve As...

A company's income statement showed the following: net income, $135,400; depreciation expense, $32,700, and gain on...

A company's income statement showed the following: net income, $135,400; depreciation expense, $32,700, and gain on sale of plant assets, $15,350. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,300; merchandise inventory increased $19,800; prepaid expenses decreased $7,100; accounts payable increased $4,000. Calculate the net cash provided or used by operating activities.

A company's income statement showed the following: net income, $126,000; depreciation expense, $36,000; and gain on...

A company's income statement showed the following: net income, $126,000; depreciation expense, $36,000; and gain on sale of plant assets, $10,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $10,600; merchandise inventory increased $24,000; prepaid expenses increased $7,400; accounts payable increased $4,600. Calculate the net cash provided or used by operating activities. Multiple Choice $176,600. $155,400. $148,600. $150,600. $135,800. In preparing a company's statement of cash flows using the indirect method,...

A company's income statement showed the following: net income, $134,000; depreciation expense, $40,000; and gain on...

A company's income statement showed the following: net income, $134,000; depreciation expense, $40,000; and gain on sale of plant assets, $14,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,400; merchandise inventory increased $28,000; prepaid expenses increased $8,200; accounts payable increased $5,400. Calculate the net cash provided or used by operating activities. Multiple Choice $140,600. $183,000. $157,000. $155,000. $161,800.

A company's income statement showed the following: net income, $127,000 and depreciation expense, $30,900. An examination...

A company's income statement showed the following: net income, $127,000 and depreciation expense, $30,900. An examination of the company's current assets and current liabilities showed the following changes: accounts receivable decreased $9700; merchandise inventory increased $18,600; and accounts payable increased $3700. Calculate the net cash provided or used by operating activities.

A company's income statement showed the following: net income, $127,000; depreciation expense, $36,500; and gain on...

A company's income statement showed the following: net income, $127,000; depreciation expense, $36,500; and gain on sale of plant assets, $10,500. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $10,700; merchandise inventory increased $24,500; prepaid expenses increased $7,500; accounts payable increased $4,700. Calculate the net cash provided or used by operating activities. Multiple Choice $177,400. $156,200. $149,400. $151,400.

Conceptual Questions:- 1.If the bars of a histogram are all the same height, what is one...

Conceptual Questions:- 1.If the bars of a histogram are all the same height, what is one observation you could make about the distribution of the sample presented in the histogram? 2. A statistician computes a 95% confidence interval for the number of prior arrests of those convicted of violent crimes. The interval ranged from 1.6 to 3.6 prior arrests. Given these data, what is the probability that the population mean is greater than 3.6 prior arrests? Why? 3. Why is the...

1. Over what period should the following be included as an expense in the income statement?...

1. Over what period should the following be included as an expense in the income statement? (a) The interest paid on a five-year corporate bond. (b) The cost of a truck with an estimated fifteen-year economic life. (c) The annual bonus earned by chief executive officers and paid in the following year. (d) The one-time premium paid on a 10-year insurance policy. (e) What basic accounting concepts do your answers reflect?

Use the following financial information for Questions 1-4 below: From the income statement: Depreciation expense...

Use the following financial information for Questions 1-4 below: From the income statement: Depreciation expense Interest expense $170,000 25,000 Income tax Net income 29,000 148,000 From the balance sheet: Current liabilities $95,000 Long-term debt 825,000 Deferred income taxes 85,000 Total Liabilities $1,005,000 Preferred stock 8,000 Common stock 276,000 Premium on common stock 163,000 Retained earnings 678,000 Total Stockholders’ Equity $1,125,000 Total Liabilities & Stockholders’ Equity $2,130,000 1. What is the Times Interest Earned ratio? _________ /_______ = ___________...

Question 1 4 pts The following account appears on the income statement of a merchandiser: dividends...

Question 1 4 pts The following account appears on the income statement of a merchandiser: dividends cost of goods sold merchandise inventory retained earnings Flag this Question Question 2 4 pts Which of the following would we credit to record the purchase of merchandise inventory on account if the company uses a perpetual inventory system? purchases cash accounts payable merchandise inventory Flag this Question Question 3 4 pts On April 1, our company purchases $1,000 worth of merchandise inventory on...

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