1.What is the firm's cash flow from financing?

Correct answer is :  -3052, can someone tell me how they got this

b-3. Prepare a year-end balance sheet for each year accounting period. (Please explain how you get Year 2 Cash under current Assets as well. Thank you:

Mark’s Consulting experienced the following transactions for 2018, its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash.

Transactions for 2018

1. Acquired $60,000 by issuing common stock.

2. Received $125,000 cash for providing services to customers.

3. Borrowed $21,000 cash from creditors.

4. Paid expenses amounting to $58,000.

5. Purchased land for $35,000 cash.

Transactions for 2019

Beginning account balances for 2019 are:

1. Acquired an additional $21,000 from the issue of common stock.

2. Received $132,000 for providing services.

3. Paid $16,000 to creditors to reduce loan.

4. Paid expenses amounting to $65,000.

5. Paid a $12,000 dividend to the stockholders.

6. Determined that the market value of the land is $45,000.

1. b-3. Prepare a year-end balance sheet for each year accounting period.

The following information pertains to Hague Corp.’s Year 2 cost of goods sold:

Inventory, 12/31/Year 1
Year 2 purchases
Year 2 write-off of obsolete inventory Inventory, 12/31/Year 2

$180,000 248,000 68,000 60,000

The inventory written off became obsolete because of an unexpected and unusual technological advance by a competitor. In its Year 2 income statement, what amount should Hague report as cost of goods sold?

A. $436,000 B. $368,000 C. $300,000 D. $248,000

[2] During December of Year 1, Nile Co. incurred special insurance costs but did not record these costs until payment was made during the following year. These insurance costs related to inventory that had been sold by December 31, Year 1. What is the effect of the omission on Nile’s accrued liabilities and retained earnings at December 31, Year 1?

A. B. C. D.

Accrued Liabilities

No effect

No effect Understated Understated

Retained Earnings

No effect Overstated Overstated No effect

[3] The following information applied to Atlas Co. for the current year:

Merchandise purchased for resale Freight-in
Freight-out
Purchase returns

$800,000 20,000 10,000 4,000

The company’s current-year inventoriable cost was

A. $800,000 B. $806,000 C. $816,000 D. $826,000

© 2019 Gleim Publications Inc. Inventory 0219 1

[4] Heidelberg Co.’s beginning inventory at January 1 was understated by $52,000, and its ending inventory was overstated by $104,000. As a result, Heidelberg’s cost of goods sold for the year was

A. Understated by $52,000. B. Overstated by $52,000. C. Understated by $156,000. D. Overstated by $156,000.

[5] Lew Co. sold 200,000 corrugated boxes for $2 each. Lew’s cost was $1 per unit. The sales agreement gave the customer the right to return up to 60% of the boxes within the first 6 months, provided an appropriate reason was given. It was reasonably estimated that 5% of the boxes would be returned. Lew expects an additional $3,000 of costs to recover those boxes. What amount should Lew report as gross profit from this transaction?

A. $380,000 B. $190,000 C. $187,000 D. $200,000

[6] On January 2 of the current year, LTTI Co. entered into a 3-year, noncancelable contract to buy up to 1 million units of a product each year at $.10 per unit with a minimum annual guarantee purchase of 200,000 units. At year end, LTTI had only purchased 80,000 units and decided to cancel sales of the product. What amount should LTTI report as a loss related to the purchase commitment as of December 31 of the current year?

A. $0
B. $8,000 C. $12,000 D. $52,000

Suppose after a high-smog alert day in your city, a 5-year-old child with asthma, a 50-year-old male smoker with emphysema, and a 75-year-old of average health all come to the emergency room complaining of a cough and chest pain.

Which patient’s health would you be the most concerned about and why?

How do breathed-in air pollutants, such as smoke or asbestos, interfere with or worsen the respiration process in each of these scenarios?

What is the firm's total change in cash from the prior year to the current year?

1. What is the firm's total change in cash from the prior year to the current year?

Correct answer was= -716, can someone tell me how they got this?

Preferably through excel, Thanks

$300,000 loan

6% per year APR

30 year armotization

Payable monthly

Paid exactly 5 years

What is the loan balance?

Please show standard factor notation.

Answer should be: $279,163.07

On January 1, Year 1, a company issues $200,000 of 8%, 5-year bond, dated 1/1/20X1, which matures 1/1/20X6, and must pay interest twice a year (semi-annually) every first of July and first of January. The Cash balance at the end of July 1, 20X3 is:

1 year(s) ago, Mack invested 5,930 dollars. In 1 year(s) from today, he expects to have 8,330 dollars. If Mack expects to earn the same annual return after 1 year(s) from today as the annual rate implied from the past and expected values given in the problem, then how much does Mack expect to have in 5 years from today?

3 year(s) ago, Carl had 241,900 dollars in his account. In 9 year(s), he expects to have 357,800 dollars. If he has earned and expects to earn the same return each year from 3 year(s) ago to 9 year(s) from today, then how much does he expect to have in 1 year(s) from today?

1 year(s) ago, Fatima invested 6,040 dollars. In 2 year(s) from today, she expects to have 7,660 dollars. If Fatima expects to earn the same annual return after 2 year(s) from today as the annual rate implied from the past and expected values given in the problem, then in how many years from today does she expect to have exactly 10,970 dollars? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).

Suppose Wall Street securities firms paid out year-end bonuses of $125,500 per employee last year. We take a sample of employees at the ASBE securities firm to see whether the mean year-end bonus is greater than the reported mean of $125,500 for the population.

You wish to test the following claim (HaHa) at a significance level of α=0.01α=0.01.

      Ho:μ=125500
      Ha:μ>125500

You believe the population is normally distributed and you know the standard deviation is σ=2900σ=2900. You obtain a sample mean of ¯x=126024.1 for a sample of size n=60n=60.

What is the test statistic for this sample?
test statistic =  (Report answer accurate to 3 decimal places.)

What is the p-value for this sample?
p-value =  (Report answer accurate to 4 decimal places.)

The p-value is...

• less than (or equal to) αα
• greater than αα

This test statistic leads to a decision to...

• reject the null
• accept the null
• fail to reject the null

As such, the final conclusion is that...

• There is sufficient evidence to warrant rejection of the claim that the population mean is greater than 125500.
• There is not sufficient evidence to warrant rejection of the claim that the population mean is greater than 125500.
• The sample data support the claim that the population mean is greater than 125500.
• There is not sufficient sample evidence to support the claim that the population mean is greater than 125500.