Business, 06.12.2021 18:20 JOEFRESH10
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income Statement For the year ended December 31, 2021 Net sales $ 1,775,000 Expenses: Cost of goods sold $ 1,040,000 Operating expenses 550,000 Depreciation expense 49,000 Income tax expense 39,000 Total expenses 1,678,000 Net income $ 97,000 PEACH COMPUTER Selected Balance Sheet Data December 31 2021 2020 Increase (I) or Decrease (D) Cash $ 101,000 $ 84,500 $ 16,500 (I) Accounts receivable 46,100 49,500 3,400 (D) Inventory 74,000 54,500 19,500 (I) Prepaid rent 2,900 4,800 1,900 (D) Accounts payable 44,000 36,500 7,500 (I) Income tax payable 4,900 9,500 4,600 (D)
Required:
Prepare the operating activities section of the statement of cash flows for Peach Computer using the indirect method.
Answers: 3
Business, 21.06.2019 21:00
Case in point 2.4 attaway airlines, part two back at attaway airlines, the morning meeting ended with no agreement between dan esposito and molly kinnon. in fact, a new issue arose. molly now says that the new accounting system is entitled to the highest priority because the federal government soon will require the reporting of certain types of company-paid health insurance premiums. because the current system will not handle this report, she insists that the entire accounting system is a nondiscretionary project. as you might expect, dan is upset. can part of a project be nondiscretionary? what issues need to be discussed? the committee meets again tomorrow, and the members will look to you, as the it director, for guidance.
Answers: 1
Business, 22.06.2019 04:00
Wallis company manufactures only one product and uses a standard cost system. the company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. all of the company's manufacturing overhead costs are fixed—it does not incur any variable manufacturing overhead costs. the predetermined overhead rate is based on a cost formula that estimated $2,886,000 of fixed manufacturing overhead for an estimated allocation base of 288,600 direct labor-hours. wallis does not maintain any beginning or ending work in process inventory.
Answers: 2
Business, 22.06.2019 22:00
The company is experiencing an increase in competition, and at the same time they are building more production facilities in southeast asia. in this scenario, the top management team is most likely to multiple choice increase the cost of their products. restructure to reflect a more bureaucratic, stable organization. pull decision-making responsibility from low-level management, taking it on themselves. give lower-level managers the authority to make decisions to benefit the firm. rid themselves of all buffering product.
Answers: 3
Portions of the financial statements for Peach Computer are provided below. PEACH COMPUTER Income St...
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