Garret Company has provided the following selected information for the year ended December 31, 2019: Cash collected from customers was $784,000. Cash received from stockholders in exchange for common stock totaled $84,000. Cash paid to suppliers was $368,000. Cash paid to employees was $208,000. Cash to stockholders for dividends was $48,000. Cash received from sale of a building was $240,000. Cash paid for store rent was $34,000. Cash received for interest and dividends was $7,000. Cash paid for income taxes was $54,000. Based on the selected information provided, how much was Garret's cash flow from operating activities

Answer:

The amount Garret's cash flow from operating activities is $127,000.

Explanation:

The amount of Garret's cash flow from operating activities can be calculated as follows:

Garret Company

Computation of Cash Flow from Operating Activities

For the year ended December 31, 2019

Details                                                                       $              

Cash collected from customers                         784,000

Cash paid to suppliers                                      (368,000)

Cash paid to employees                                   (208,000)

Cash paid for store rent                                      (34,000)

Cash received for interest and dividends            7,000

Cash paid for income taxes                                (54,000)  

Cash flow from operating activities                 127,000  

Therefore, the amount Garret's cash flow from operating activities is $127,000.

​Inflation, nominal interest​ rates, and real rates. From 1991 to​ 2000, the U.S. economy had an annual inflation rate of around ​%. The historical annual nominal​ risk-free rate for this same period was around ​%. Using the approximate nominal interest rate equation and the true nominal interest rate​ equation, compute the real interest rate for that decade. What is the estimated real interest rate using the approximate nominal interest rate equation for that​ decade?

Job 243 was recently completed. The following data have been recorded on its job cost sheet: Direct materials $ 51,870 Direct labor-hours 435 labor-hours Direct labor wage rate $ 11 per labor-hour Machine-hours 516 machine-hours Number of units completed 3,300 units The company applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $13 per machine-hour. Required: Compute the unit product cost that would appear on the job cost sheet for this job. (Round your answer to 2 decimal places.)

Which of the following is not an example of a problem explained by agency theory?

A manager fires underperforming employees.

A manager takes few risks to ensure steady dividends.

A manager encounters a conflict of interest between their responsibilities to shareholders and their responsibilities to employees.

A manager protects her own job rather than the shareholder’s wealth.

During January 2018, the first month of operations, a consulting firm had following transactions:
1. Issued common stock to owners in exchange for $48,000 cash.
2. Purchased $12,000 of equipment, paying $2,400 cash and signing a promissory note for $9,600.
3. Received $21,600 in cash for consulting services performed in January.
4. Purchased $3,600 of supplies on account; all of the supplies were used in January
5. Provided consulting services on account in the amount of $38,400.
6. Paid $1,800 on account.
7. Paid $7,200 to employees for work performed during January.
8. Received a bill for utilities for January of $8,150; the bill remains unpaid.
What is the total expenses that will be reported on the income statement for the month ended January 31?
a. $18,950.
b. $10,800.
c. $9,000.
d. $19,550.

What is one tax form you should complete differently if you've got more than one job?

Develop a scope statement for the project described in this post (Links to an external site.) that contains examples of all the elements. Assume that the big finale (with the first batch of invites) will occur in four weeks. Provide your best estimate of the dates for milestones. Project Scope Checklist:_________. 1. Project Objective 2. Product Scope Description 3. Justification 4. Deliverables 5. Milestones 6. Technical Requirements 7. Limits and exclusions 8. Acceptance Criteria

An important corporate-level strategic decision is whether to pursue diversification, which involves moving into new lines of business. This activity is important because diversification is one of the key ways that companies grow revenues and/or reduce risks. The goal of this exercise is to challenge your knowledge of the different forms of diversification For each company example, select the type of diversification the statement best represents.
1. Luxury fashion brand Coach, Inc. acquired Kate Spade New York-another luxury fashion and lifestyle brand-in 2017. (Click to select)
2. Fast fashion retail giant, Zara is able to get designs from the catwalk to the retail store at incredible speeds. Zara can do this because it has acquired most of its supply chain, including designers, manufacturers, and distributors. Click to select)
3. Clorox Company, best known for bleach and cleaning products, purchased Burt's Bees, best known for its natural beauty and personal care products, in 2007 Click to select)
4. In 2018, Novartis, a Swiss multinational pharmaceutical company, acquired Avexis, a clinical stage gene therapy company (Click to select)
5. In the 1930s, Mars Incorporated (maker of Snickers and other popular candies) purchased Chappell Brothers canned dog food company. Much of Mars' business today comes from pet food brands such as Whiskas and Pedigree. In 2017, Mars acquired VCA, a company that owns hundreds of dog day care facilities and animal hospitals, to add to its Mars Petcare portfolio Click to select)
6. In 2018, Boeing aerospace company announced its plans to buy KLX, a company that distributes aerospace fasteners and consumables Click to select)
1. Luxury fashion brand Click to select Vertical integration Unrelated diversification Related diversification (Click to select)
3. Clorox Companv. best

1. What is the purpose of a bank statement?

Who is the Father of accounting

In each of the following transactions ( a ) through ( c ) for Romney's Marketing Company, use the three step process illustrated in the chapter to record the adjusting entry at year-end December 31, 2015. The process includes (1) determining if revenue was earned or an expense incurred, (2) determining whether cash was received or paid in the past or will be received or paid in the future, and (3) computing the amount of the adjustment.

a. Estimated electricity usage at $450 for December; to be paid in January of next year.
b. On September 1 of the current year, loaned $6,000 to an officer who will repay the loan principal and interest in one year at an annual interest rate of 14 percent.
c. Owed wages to 10 employees who worked four days at $200 each per day at the end of the current year. The company will pay employees at the end of the first week of next year.

Examples of operational risk include Multiple Choice restrictions imposed on the maximum ownership share by foreigners, mandatory transfer of ownership to local firms over a certain period of time (fade-out requirements), and the nationalization of local operations of MNCs. none of the options the unexpected imposition of capital controls, inbound or outbound, and withholding taxes on dividend and interest payments. unexpected changes in environmental policies, sourcing/local content requirements, minimum wage law, and restriction on access to local credit facilities.

A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U.S. GDP increases by $40. increases by $220. increases by $280. increases by $1500.

From the following information, please prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet for the month of May of the current year.

Cash

$12,000



Accounts Receivable

16,000



Supplies

350



Equipment

16,500



Notes Payable



$13,000

Accounts Payable



12,000

S. Jones, Capital



18,000

S. Jones, Drawing

550



Service Revenue



6,000

Telephone Expense

350



Rent Expense

1,100



Advertising Expense

2,150





$49,000

$49,000

Presented below is information from Headland Computers Incorporated.
July 1 Sold $22,600 of computers to Robertson Company with terms 3/15, n/60. Headland uses the gross method to record cash discounts. Headland estimates allowances of $1,334 will be honored on these sales.
10 Headland received payment from Robertson for the full amount owed from the July transactions.
17 Sold $256,100 in computers and peripherals to The Clark Store with terms of 2/10, n/30.
30 The Clark Store paid Headland for its purchase of July 17.
Required:
Prepare necessary ournal entries for Headland computers.

Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits$75per hourAnnual labor hours 6,350hoursAnnual materials purchase$1,206,250 Materials purchasing, handling, and storage$241,250 Overhead for depreciation, taxes, insurance, etc.$670,000 Target profit margin for both labor and materials 25% What should Shale set as the materials markup per dollar of materials used

The price of peanut butter increases from $3.00 to $3.50 per jar, and the quantity of jelly demanded falls from 30 jars to 24 jars. Using the midpoint formula, calculate the cross-price elasticity of demand. Report your answer to two decimal places.

Calico Corporation produced 2,000 units in Job 903. The following data is provided for Job 903 for the year:

Direct materials used $2,300
Direct labor costs $700
Actual manufacturing overhead rate per direct labor hour $17.15
Predetermined manufacturing overhead rate per direct labor hour $18.30
Direct labor hours used in Job 903 35
Direct labor rate per hour $20

Required:
What is the total cost of Job 903?

This chapter described various situations that emphasize the need for controls. In the first sce- nario presented, a furniture store sells merchandise on credit. Based on the descriptions of controls given in this chapter, identify the various controls that should be implemented in the furniture store system to ensure that corrections to customer bal- ances are made only by someone with the correct authorization. In the second scenario illustrating the need for controls, an accounts payable clerk uses the system to write checks to suppliers. Based on the information in this chapter, what kinds of controls would you implement to ensure that checks are written only to valid suppliers, that checks are written for the correct amount, and that all payouts have the required authorization

There are two steps for XYZ bakery to make their bread. One is to prepare the dough and bake the loaves, and the other one is to package the loaves. Bread is made in batches of 50 loaves per hour and it will take 20 minutes to place the 50 loaves in bags.
a. What is the utilization for the packaging?

b. What do you need to do to make the capacities to be roughly equal?

Item1 1 points eBookAskReferencesItem 1 TB MC Qu. 06-91 The following information... The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 8,419 Accounts receivable 70,422 Merchandise inventories 60,362 Prepaid expenses 4,100 Accounts payable $ 14,950 Notes payable 86,638 Other current liabilities 9,500 If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)

Krumbly Corporation uses the FIFO method in its process costing system. At the beginning of the month, Department D's work in process inventory contained 2,000 units. These units were 100% complete with respect to materials and 40% complete with respect to conversion costs, with a total cost at that point of $13,600. During the month, conversion costs amounted to $8 per equivalent unit. If all 2,000 units are fully complete by the end of the month and transferred out of the department, the total cost of the 2,000 units transferred out will be closest to:

Beagle Corporation has 18,000 shares of $10 par common stock outstanding and 18,500 shares of $100 par, 6.75% cumulative, nonparticipating preferred stock outstanding. Dividends have not been paid for the past two years. This year, a $470,000 dividend will be paid. What are the dividends per share payable to preferred and common, respectively?

The following data is available for Everest Company:
Credit Sales $1,702
Net Income $112
Total Current Assets $366
Total Current Liabilities $226
Accounts Receivable, current year $160
Accounts Receivable, prior year $156
Total Stockholders' Equity, current year $550
Total Stockholders' Equity, prior year $500
Retained Earnings, current year $366
Retained Earnings, prior year $346
Market price per share $50
Average Number of Common Shares Outstanding during year 46
Required: Compute the following ratios:
A) current ratio
B) average collection period in days
C) return on stockholders' equity
D) price-earnings ratio
E) dividend yield

Name some of the faculties of Nepal Sanskrit University?​

An incomplete subsidiary ledger of materials inventory for May is as follows:
RECEIVED ISSUED BALANCE
Receiving Materials
Report Unit Requisition Unit
Number Quantity Price Number Quantity Amount Date Quantity Price Amount
May 1 285 $30.00 $8,550
40 130 $32.00 May 4
91 365 May 10
44 110 38.00 May 21
97 100 May 27
Required:
A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
B. Determine the materials inventory balance at the end of May.
C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles.
D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand.
Chart of Accounts
CHART OF ACCOUNTS
General Ledger
ASSETS
110 Cash
121 Accounts Receivable
125 Notes Receivable
126 Interest Receivable
131 Materials
132 Work in Process
133 Factory Overhead
134 Finished Goods
141 Supplies
142 Prepaid Insurance
143 Prepaid Expenses
181 Land
191 Factory
192 Accumulated Depreciation-Factory
LIABILITIES
210 Accounts Payable
221 Utilities Payable
231 Notes Payable
236 Interest Payable
241 Lease Payable
251 Wages Payable
252 Consultant Fees Payable
EQUITY
311 Common Stock
340 Retained Earnings
351 Dividends
390 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Goods Sold
520 Wages Expense
531 Selling Expenses
532 Insurance Expense
533 Utilities Expense
534 Office Supplies Expense
540 Administrative Expenses
560 Depreciation Expense-Factory
590 Miscellaneous Expense
710 Interest Expense
Materials Inventory
Shaded cells have feedback.
A. Complete the materials issuances and balances for the materials subsidiary ledger under FIFO.
RECEIVED
ISSUED
BALANCE
Receiving Materials
Report Unit Requisition
Number Quantity Price Number Quantity Amount Date Quantity Unit Price Amount
May 1 285 $30.00 $8,550
40 130 $32 May 4
91 365 May 10
44 110 38 May 21
97 100 May 27
Points:
12 / 20
B. Determine the materials inventory balance at the end of May.
Points:
0 / 1
Feedback
Check My Work
A and B. Calculate the amount of each materials issue, using FIFO. In the Balance section, separate each different unit price and its quantity.
Journal
Shaded cells have feedback.
C. Journalize the summary entry on May 31 to transfer materials to work in process. Refer to the Chart of Accounts for exact wording of account titles.
How does grading work?
PAGE 10
JOURNAL
C. Increase work in process and decrease materials for the total of issuances found in Req. A.
Final Question
Shaded cells have feedback.
D. Explain how the materials ledger might be used as an aid in maintaining inventory quantities on hand.
Comparingquantities on hand as reported in the materials ledger with predetermined order points enables management to order materials beforea lack of materials causes idle time.

Farm workers in Oaks Farmville face a 1/85 probability of death at work and each of them receives a yearly wage of $159,106. Farm workers in Valley Farm face a 1/127 of death at work. Assume that both kinds of job require the same level of skills, effort and that all workers have the same preferences and tastes. The values of an statistical life is computed to be $1,262,558. How much should the workers in the less risky job should get paid

In 2009, Khalid was in an automobile accident and suffered physical injuries. The accident was caused by Rashad's negligence. Khalid threatened to file a lawsuit against Amber Trucking Company, Rashad's employer, claiming $50,000 for pain and suffering, $25,000 for loss of income, and $100,000 in punitive damages. Amber's insurance company will not pay punitive damages; therefore, Amber has offered to settle the case for $120,000 for pain and suffering, $25,000 for loss of income, and nothing for punitive damages. Khalid is in the 35% marginal tax bracket. What is the after-tax difference to Khalid between Khalid's original claim and Amber's offer

2) Company issues
to invites its members to subscribe for its
Deposit scheme. (Advertisement, Circular, Newspapers)​

Imagine that after completing your economics course (you get an A, of course) you are at a family gathering. Your grandmother asks you about a news story she read this morning. The story explained that when the government adjusts Social Security payments for inflation, it generally uses the CPI-W, which is the Consumer Price Index for Urban Wage Earners and Clerical Workers. Because senior citizens spend a lot more than average on medical care, adjustments to their Social Security payments are not keeping up with their cost of living.
Last year I received $15,000 per year from the government. The story said that the CPI increased from 144 to 162. How much will I get this year?

Pro-tech Software acquired all of the outstanding stock of Reliable software for $14 million. The book value of Reliable's net assets( assets minus liabilities) was $8.3 million. The fair values of Reliable's assets and liabilities equaled their book values with the exception of certain intangible assets whose fair values exceeded book values by $2.5 million. Calculate the amount paid for goodwill.