Benson, Inc., has sales of $42,030, costs of $13,650, depreciation expense of $2,950, and interest expense of $2,150. The tax rate is 25 percent. What is the operating cash flow, or OCF? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Operating cash flow
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A: Operating cash flow refers to the cash flow generated from the core operations of the business. It…
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A: The formula to compute operating cash flow as follows:
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Q: Foraker Inc. has sales of $46,200, costs of $23,100, depreciation expense of $2200, and interest…
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- Question 3A businessman has bought the following items for his business uses: Machinery RM100,000Computers RM50,000Pen RM10A4 paper rim RM15Printer cartridge RM20 Required: (iii) State an accounting concept whichever applicable that requires an accounting adjustment in the presentation of financial statements.eBook Check my workCheck My Work button is now disabled1 Item 1 Required information Skip to question Loaded: 0.00% Current Time 1:44 / Duration 10:14 1x Juarez Company acquired $1,200 from the issue of common stock. Which of the following shows how this event will affect the company’s accounting equation? The letters “NA” indicate that the component of the equation is not affectedSerial Problem Business Solutions LO P1, A1 Selected ledger account balances for Business Solutions follow. For Three MonthsEnded December 31, 2019 For Three MonthsEnded March 31, 2020 Office equipment $ 8,100 $ 8,100 Accumulated depreciation—Office equipment 405 810 Computer equipment 20,000 20,000 Accumulated depreciation—Computer equipment 1,250 2,500 Total revenue 31,334 44,900 Total assets 83,360 121,668 Required:1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense—Office equipment and for Depreciation expense—Computer equipment (assume use of the straight-line method).2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020?3. Compute the three-month total asset turnover for Business…
- Ex5.21From the following transactions as well as additional data, please complete the entire accountingcycle for Parker’s Plowing201XJan. 1 Parker invested $10,000 cash and $12,000 worth of snow equipment into the plowingcompany.1 Paid rent for six months in advance for garage space, $6,000.4 Purchased office equipment on account from Lumen Corp., $12,600.6 Purchased snow supplies for $800 cash.8 Collected $14,000 from plowing local shopping centers.P a g e 7 | 812 Parker Muroney withdrew $4,000 from the business for his own personal use.20 Plowed Alton Co. parking lots, payment not to be received until May, $1,500.26 Paid salaries to employees, $1,900.28 Paid Lumen Corp. one-half amount owed for office equipment.29 Advertising bill received from Washington Co. but will not be paid until May, $700.30 Paid telephone bill, $130.Adjustment Dataa. Snow supplies on hand, $700.b. Rent expired, $1,000.d. Depreciation on snow equipment, $200: ($12,000/5 yr = $2,400/12 mo. = $200).e. Accrued…(Quiz 2.2) Please help me answer the last question (multiple choice) if you can, all in bold! Thank you!! UnitsProduced TotalLumberCost TotalUtilitiesCost Total MachineDepreciationCost 7,000 shelves $70,000 $9,550 $135,000 14,000 shelves 140,000 17,600 135,000 28,000 shelves 280,000 33,700 135,000 35,000 shelves 350,000 41,750 135,000 2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places. Cost Fixed Portionof Cost Variable Portionof Cost (per Unit) Lumber 0 10 Utilities 1500 1.15 Depreciation 135000 0 Question Content Area High-Low Biblio Files Company is the chief competitor of Cover-to-Cover Company in the…4-C Challenge Problem p118 century 21 accounting: general journal 11th edition Liam Liu owns a service business that uses a general journal that is different from the journal used in this chapter. The made general journal and general ledger accounts (before posting) are provided. Post from the general journal to the general ledger.
- ASSIGNMENT 05: JOURNAL ENTRIES FOR MERCHANDISING BUSINESS Transactions for the 1st year 200x:Jan 1 Owner invested P1,000,000 cash Feb 1 Purchased furniture worth P120,000 with 8 years useful life and no salvage value Feb 12 Purchases on account, P600,000; terms: 2/20; n/30. FOB shipping point, freight prepaid, P2,000. Mar 2 Sold merchandise on account, P900,000; terms 10; 5/15, n/30. FOB shipping point, freight prepaid, P25,000 Mar 7 Collected 80% of receivable on March 2 Mar 12 Paid purchases made on Feb. 12 Mar 23 Received sales returns, P25,000 from sales on Mar 2 Apr 2 Collected remaining receivables on Mar 2. Dec. 30 Paid Rent, P80,000 and utilities, P16,000 Dec. 31 Accrued salary, P120,000 and merchandise inventory per count P60,000 Transactions for the 2nd year 200y: Jan. 15 Paid accrued salary of 200x Apr 27 Purchased goods on account P480,000. FOB destination, freight prepaid P14,000 May 22 Sold goods for cash to…Info for question in attached images Answer Choices for Q1 a. $7,500 b. $10,830 c. $7,400 d. $25,730Dd6). Required information Skip to question [The following information applies to the questions displayed below.] On January 1, Super Saver Groceries purchased store equipment for $29,500. Super Saver estimates that at the end of its 10-year service life, the equipment will be worth $3,500. During the 10-year period, the company expects to use the equipment for a total of 13,000 hours. Super Saver used the equipment for 1,700 hours the first year. Required:
- HW Q 1 Current Attempt in Progress Information related to Riverbed Co. is presented below. 1. On April 5, purchased merchandise on account from Tamarisk Company for $ 36,000, terms 3/10, net/30, FOB shipping point. 2. On April 6, paid freight costs of $ 920 on merchandise purchased from Tamarisk. 3. On April 7, purchased equipment on account for $ 30,500. 4. On April 8, returned damaged merchandise to Tamarisk Company and was granted a $ 4,200 credit for returned merchandise. 5. On April 15, paid the amount due to Tamarisk Company in full. (a) Prepare the journal entries to record these transactions on the books of Riverbed Co. under a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1. choose a transaction dateChoose a transaction date enter an…https://www.chegg.com/homework-help/questions-and-answers/q1-let-us-assume-mr-amir-starts-business-called-amir-enterprises-1st-january-2021-invests--q69973974?fbclid=IwAR2P3PvLU-TV9l2c3UJ1L3iqmf2MoRP-lQpp1m2RE9bHkCPdTkYNenUXFPYeBookPrintReferencesCheck my workCheck My Work button is now enabled2Item 2 During 2023, GlenTel Inc. sold its interest in a chain of wholesale outlets. This sale took the company out of the wholesaling business completely. The company still operates its retail outlets. Following are eight profit-related items: Debit Credit 1. Depreciation expense $ 163,000 2. Gain on sale of wholesale operation (net of $124, 000 income taxes) $ 426,000 3. Loss from operating wholesale operation (net of $122, 000 tax benefit) 366, 000 4. Salaries expense 346,000 5. Sales 1,642,000 6. Gain on expropriation of company property 275,000 7. Cost of goods sold 839,000 8. Income taxes expense 192, 400 Present a multiple-step income statement for 2023.
