Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2021 fiscal year was $1,250,000. Depreciation expense of $140,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
Increase in accounts receivable
...........$152,000
Decrease in inventory .............................108,000
Decrease prepaid expenses .....................62,000
Decrease in salaries payable ...................30,000
Increase in income taxes payable ...........44,000
Required:
Calculate cash flows from operating activities for 2021.
In: Accounting
Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income for the 2021 fiscal year was $624,000. Depreciation and amortization expense of $87,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash:
Decrease in accounts receivable
...........$22,000
Increase in inventory ..................................9,200
Increase prepaid expenses ........................8,500
Increase in salaries payable ....................10,000
Decrease in income taxes payable ........14,000
Required:
Prepare the operating activities section of the 2021 statement of cash flows.
In: Accounting
An experiment with Le Chatelier's Principle resulted in this equation: Fe3+ + SCN- <=> Fe(SCN)2+
First off, should the first reactant be Fe2+ or Fe3+? Our TA said Fe2+, but I'm not sure why it's not Fe3+ since we were adding Fe3+ to observe changes in equilibrium. (The lab manual specifies that Fe(SCN)2+ in a product.)
Second, it was obvious that adding Fe3+ and SCN- shifted the equilibrium to the right toward products. However, addition of NaH2PO4 shifted the equilibrium left, back toward the reactants. What is it about NaH2PO4 that caused this to happen?
In: Chemistry
Consider a galvanic cell based upon the following half reactions: Ag+ + e- → Ag 0.80 V Cu2+ + 2 e- → Cu 0.34 V
How would the following changes alter the potential of the cell?
Adding Cu2+ ions to the copper half reaction (assuming no volume change).
Adding equal amounts of water to both half reactions.
Removing Cu2+ ions from solution by precipitating them out of the copper half reaction (assume no volume change).
Adding Ag+ ions to the silver half reaction (assume no volume change)
In: Chemistry
Given the following equations:
A (g) → B (g) ΔH = –50 kJ
B (g) → C (g) ΔH = –100 kJ
Calculate the enthalpy changes for the following.
Enter your answer in kJ but don't include units. For example, if the answer is 35 kJ, you would enter "35" without the quotes.
2 A (g) → 2 B (g) has an enthalpy change of:
, C (g) → B (g) has an enthalpy change of:
, A (g) → C (g) has an enthalpy change of:
, 2 B (g) → A (g) + C (g) has an enthalpy change of:
In: Chemistry
In a chemistry experiment , 2ml of 5% sodium hypochlorite, 2ml of 3M KBr and 2ml of 3M KI are individually put to a 150 ml test tube(separately). then 10 ml of cyclohexane is added to all three tes tubes and shaked. then after that the 6M hcl, 8M Hno3, 8M Hno3 are respectively added to the 1st, 2nd and third solutions. After that the test tubes are pit on a hot water bath to increase the reactions for the second and third solitions. Explain thoroughly about the use of the experiment ,all the color changes, the layer formed, everything?
In: Chemistry
Sales $ 471,000 $ 416,000 Cost of goods sold 330,000 268,000 Gross profit $ 141,000 $ 148,000 Operating expenses 130,000 116,000 Net income $ 11,000 $ 32,000 a. Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated.) b. State whether the changes from year 1 to year 2 are favorable or unfavorable.
In: Accounting
Sales $ 471,000 $ 416,000 Cost of goods sold 330,000 268,000 Gross profit $ 141,000 $ 148,000 Operating expenses 130,000 116,000 Net income $ 11,000 $ 32,000 a. Prepare common size income statements for Price Company, a sole proprietorship, for the two years shown as above by converting the dollar amounts into percentages. For each year, sales will appear as 100 percent and other items will be expressed as a percentage of sales. (Income taxes are not involved as the business is not incorporated.) b. State whether the changes from year 1 to year 2 are favorable or unfavorable.
In: Accounting
Research project: The impact of information technology on the revenue cycle activities, threats, and controls Search popular business and technology magazines (BusinessWeek, Forbes, Fortune, CIO, etc.) to find an article about innovative use of IT that can be used to improve one or more activities in the revenue cycle. Write a report that: A. Explains how IT can be used to change revenue cycle activities. B. Discusses the control implications. Refer to table 12.1(page 357) and explain how the new procedure changes the threats and appropriate control procedures for mitigating those threats.
In: Accounting
Firms A & B have no debt. Both have invested capital of $5,000,000 and 200,000 shares outstanding. Both firms have a ROIC of 12% and a WACC of 12%. Firm A pays out 100% of earnings as dividends and Firm B pays out 40% of its earnings as dividends.
What will be the share price of each firm at the end of two years?
Will shareholders of Firms A & B earn the same or different rates of return after selling their shares at end of year two assuming both firms continue to operate as they have and there are no changes in expectations. Explain your logic.
In: Finance