The following items are relevant to the preparation of a statement of cash flows for Pier Imports Inc. 1. Comparative balance sheets show a decrease of $4,800 in accrued utilities payable for the current year. 2. Nontrade short-term notes payable to banks increased $64,000 during the current year due to new borrowings. 3. The following end-of-year adjusting entry was recorded. No other interest-related transactions or entries occurred during the year. Interest Expense 9,600 Premium on Bonds Payable 640 Interest Payable 10,240 4. $400 payment was made to reduce the principal balance of a nontrade loan from a bank. 5. Gross equipment account increased $16,000 during the year, accumulated depreciation increased $6,400, and depreciation expense for the period is $8,000. One item of equipment (cost $8,000, accumulated depreciation $1,600) was sold during the year; a gain of $800 on the sale was recognized. 6. Purchase of treasury stock, $24,000. 7. Distribution of cash dividends, $4,000. 8. Sale of available-for-sale debt securities for $12,800, at a loss of $2,400. Note: For the following questions, indicate a net cash outflow with a negative sign. a. Determine the amount of net cash flows that would be reported in the investing section of the statement of cash flows. Answer 0 b. Determine the amount of net cash flows that would be reported in the financing section of the statement of cash flows.

Answer:

Pier Imports Inc.

a. Investing section:

Purchase of equipment -16,000

Sale of equipment 7,200

Purchase of treasury stock, -24,000

Sale of available-for sale debt securities 12,800

b. Financing section:

Non-trade short-term notes payable $64,000

Increase in interest payable  10,240

Payment of loan -400

Cash dividends of -4,000

Explanation:

a) Data and Analysis:

1. Decrease of $4,800 in Utilities payable = operating activity

2. Increase of $64,000 in non-trade short-term notes payable to banks = financing activity.  They are not related to normal business operations.

3. Increase of $10,240 in interest payable = financing activity

4. Cash payment of $400 to reduce non-trade bank loan = financing activity

5. Increase of $16,000 in gross equipment account = investing activity

6. Cash $7,200 from sale of equipment = investing activity

7. Purchase of treasury stock, $24,000 = investing activity

8. Cash dividends of $4,000 = financing activity

9. Cash sale, $12,800 of available-for-sale debt securities = investing activity

Gross private domestic investment includes business: a. purchases of capital goods, all new construction, and inventory investment. b. purchases of all types of durable goods, all new construction, and inventory investment. c. purchases of capital goods, all new construction, and purchases of consumer durable goods. d. purchases of capital goods, all new commercial construction, and inventory investment.

Bramble Corp. factors $3250000 of its accounts receivables without recourse for a finance charge of 4%. The finance company retains an amount equal to 9% of the accounts receivable for possible adjustments. Bramble estimates the fair value of the recourse liability at $300000. What would be the debit to Cash in the journal entry to record this transaction

Which statements describe options for exporting query data? Select all that apply.
Copy a database object and paste it into a new program.
Save the entire database as a spreadsheet.
Save a single database object in a new file type, such as .csv.
Copy the entire database and paste it into a new program.
DONE

Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2020. It also has the following items (before considering income taxes): (1) An unrealized loss of $120,000 available-for-sale-securities. (2) A gain of $60,000 on the discontinuance of a major component. (3) A cumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $50,000. Assume all items are subject to income taxes at a 30% tax rate. Prepare an income statement, beginning with income from continuing operations. DOS AMUGUS COMPANY Partial Statement of Comprehensive Income For the Year Ended December 31, 2020

On December 31, 2019, Burke Corporation signed a 5-year, non-cancelable lease for a machine. The terms of the lease called for Burke to make annual payments of $8,668 at the beginning of each year, starting December 31, 2019. The machine has an estimated useful life of 6 years and a $5,000 unguaranteed residual value. The machine reverts back to the lessor at the end of the lease term. Burke uses the straight-line method of

The political business cycle refers to Group of answer choices the fact that about every four years some politician advocates greater government control of the Fed. the potential for a central bank to increase the money supply and therefore real GDP to help the incumbent get re-elected. the part of the business cycle caused by the reluctance of politicians to smooth the business cycle. changes in output created by the monetary rule the Fed must follow.

Stitch Fix is an online personal styling service that was founded in 2011. This company combines computer algorithms with human stylists to deliver a personalized online shopping experience to customers through a subscription service. Users fill out a survey that outlines their style preferences and price range, then stylists hand-select clothing and ship it to the customers. Which of the following statements most likely does not represent an opportunity for Stitch Fix?
A. increasing life expectancy by 5 years.
B. increase in the company's efficiency due to improvements in the value chain.
C. global economic growth will reach 10% next year.
D. a growing population of environmentally conscious consumers.

Grass Frog Company sells merchandise only on credit. For the year ended December 31, 2018, the following data are available:
Sales (all on credit) $2,100,000
Accounts Receivable, January 1, 2018 305,000
Allowance for doubtful accounts,
January 1, 2018 (credit) 25,000
Cash collections during 2018 1,980,000
Accounts written off as uncollected
(default) during 2018 15,000
1. Determine the balance of Accounts Receivable at December 31, 2018.
2. Assume that the company estimates bad debts at 4% of credit sales. What amount will the company record as bad debt expense for 2018?
3. What journal entry Grass Frog prepare to record bad debt expense for 2018 (related to part 2)?
4. Now assume the company estimates bad debts based on the aging method. Estimate the ending balance in the allowance for doubtful accounts at December 31, 2018 using the information below:
AGE CLASS % UNCOLLECTIBLE AMOUNT
Not Past Due 1% $220,000
1-30 Days Past Due 5% $110,000
31-60 Days Past Due 10% $40,000
61-90 Days Past Due 25% $30,000
Over 90 Days Past Due 50% $10,000
1. What journal entry would Grass Frog prepare to record bad debt expense for 2018 (related to part 4)?
2. What is the net realizable value of the receivables to be reported on the balance sheet at year-end (assuming aging method was used by Grass Frog)?

Juno Markets is offering 900 shares in a Dutch auction IPO. The following bids have been received: How much will Bidder B have to spend to purchase all of the shares that have been allocated to him

The Terme Corporation is contemplating the purchase of new equipment, which may potentially increase revenues by 30%. Currently, sales are $830,000 per year and cost of sales are 65% of sales. The equipment is expected to last for 4 years with no residual value. The cash outflow expected at the beginning of the year is $289,200. Ignoring income taxes, what is the estimated annual net operating income increase/decrease

Total quality management (TQM) is defined as a comprehensive approach dedicated to continuous quality improvement, training, and customer satisfaction. TQM is led by top management and supported throughout the organization. This activity is important because TQM requires hard work, and managers should understand its core principles in order to properly instill and support TQM in their organizations.
1. Employees, suppliers, and customers are all entrusted with decision-making power.
(Click to select) People orientation Improvement orientation
2. The way to success in business is through continuous, small enhancements to products.
(Click to select) People orientation Improvement orientation
3. Is driven by strong support at the highest levels of the organization.
(Click to select) People orientation Improvement orientation
4. The focus is on creating the most value possible for customers.
(Click to select) People orientation Improvement orientation
5. Assumes that it is better to expend more resources getting something right the first time than to have to engage in costly repairs and reworking after the fact.
(Click to select) People orientation Improvement orientation
6. Executives and researchers at the corporate level frequently interact with front-line salespeople to garner information on customer and product issues.
(Click to select) People orientation Improvement orientation

Garth is best friends with Wayne, the CEO of Great Pharma, Incorporated (GPI), a publicly traded corporation. GPI had just made an important discovery: the cure for cancer. The information has been kept secret by GPI. Before the news was made public in a press conference, Wayne told Garth about it on May 1 and that day Garth bought 10,000 shares of GPI stock. The press conference was on May 2 and after the announcement, GPI stock went up $50 a share. Garth immediately sold his stock and made $500,000. Garth is known in the law of insider trading as a/an

Yasmin Co. can further process Product B to produce Product C. Product B is currently selling for $34 per pound and costs $26 per pound to produce. Product C would sell for $61 per pound and would require an additional cost of $22 per pound to produce. The differential cost of producing Product C is a.$22 per pound b.$34 per pound c.$61 per pound d.$26 per pound

Ginger attacks Richard and cuts him with a knife. He sues Ginger. The jury awards Richard $50,000 for medical expenses and lost time at work and adds $100,000 to the award because Ginger was so vicious. The $100,000 is called: A. punitive damages B. compensatory damages C. nominal damages D. an equitable remedy E. none of the other choices

FIFO Method, Equivalent Units, Unit Cost, Multiple Departments
Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December:
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started ?
Total units to account for: ?
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed ?
Units accounted for ?
1-a. Prepare a schedule of equivalent units.
1-b.Compute the unit cost for the month of December.

Angie relocated for her job and is looking for a new fitness facility to attend an aerobics class. She should make sure that these facilities follow the guidelines for health and fitness facilities established by the _____.
a. The National Center for Complementary and Alternative Medicine
b. The Better Business Bureau
c. The National Strength and Conditioning Association
d. The American Council on Exercise
e. The American College of Sports Medicine

The following transactions occurred during July: Received $1,600 cash for services performed during July. Received $7,800 cash from the issuance of common stock to owners. Received $800 from a customer as payment for services performed during June. Billed $4,700 to customers for services performed on account in July. Borrowed $3,300 from the bank and signed a promissory note. Received $2,200 from a customer for services to be performed during August. What is the amount of revenue that will be reported on the income statement for the month ended July 31

define biospheredefine biosphere ​

Using the estimated sales and production of 140,000 boxes of Chap-Off, the Accounting Department has developed the following manufacturing cost per box: Direct material $ 3.70 Direct labor 2.00 Manufacturing overhead 1.60 Total cost $ 7.30 The costs above relate to making both the lip balm and the tube that contains it. As an alternative to making the tubes for Chap-Off, Silven has approached a supplier to discuss the possibility of buying the tubes. The purchase price of the supplier's empty tubes would be $1.20 per box of 24 tubes. If Silven Industries stops making the tubes and buys them from the outside supplier, its direct labor and variable manufacturing overhead costs per box of Chap-Off would be reduced by 10% and its direct materials costs would be reduced by 20%. Required: 1. If Silven buys its tubes from the outside supplier, how much of its own Chap-Off manufacturing costs per box will it be able to avoid

Durable goods $3,000 Services 6,000 Business purchases of capital goods 400 Fixed investment 850 Exports 600 Imports 800 Nondurable goods 700 Inventory investment 200 Government transfer payments 100 Purchases of new residential housing 450 Government purchases 900 Refer to Exhibit 7-3. Consumption is equal to

Suppose that Freddie's Fries has annual sales of $520,000; cost of goods sold of $395,000; average inventories of $11,000; average accounts receivable of $27,000, and an average accounts payable balance of $22,000. Assuming that all of Freddie's sales are on credit, what will be the firm's cash cycle? (Round your answer to 2 decimal places.)

A company is considering replacing an old piece of machinery, which cost $601,300 and has $350,900 of accumulated depreciation to date, with a new machine that has a purchase price of $483,600. The old machine could be sold for $64,500. The annual variable production costs associated with the old machine are estimated to be $156,700 per year for 8 years. The annual variable production costs for the new machine are estimated to be $101,400 per year for 8 years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A company is considering replacing an old piece of machinery, which cost $600,000 and has $350,000 of accumulated depreciation to date, with a new machine that has a purchase price of $545,000. The old machine could be sold for $231,000. The annual variable production costs associated with the old machine are estimated to be $61,000 per year for eight years. The annual variable production costs for the new machine re estimated to be $19,000 per year for eight years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
Differential Analysis
Continue with Old Machine (Alternative. 1) or Replace Old Machine (Alternative. 2)
September 13
1
Continue with Old Machine
Replace Old Machine
Differential Effect on Income
2
(Alternative 1)
(Alternative 2)
(Alternative 2)
3
4
5
6
7
8

Data for 2021 were as follows: PBO, January 1, $246,000 and December 31, $276,000; pension plan assets (fair value) January 1, $190,000, and December 31, $239,000. The projected benefit obligation was underfunded at the end of 2021 by:

A company started the year with the following: Assets $104,000; Liabilities $34,000; Common Stock $64,000; Retained Earnings $6,000. During the year, the company earned revenue of $5,400, all of which was received in cash, and incurred expenses of $3,200, all of which were unpaid as of the end of the year. In addition, the company paid dividends of $1,400 to owners. Assume no other activities occurred during the year. What was the amount of net income for the year?
a. $3,200.
b. $2,200.
c. $1,400.
d. $5,400.

Perfectly competitive, unregulated markets with no externalities will provide the efficient level of Group of answer choices private goods. private goods, artificially scarce goods, and common property resources. private goods and artificially scarce goods. private goods, artificially scarce goods, common property resources, and public goods. canva

Hordel Company needs to determine a markup for a new product. Hordel expects to sell 6,100 units and wants a target profit of $93 per unit. Additional information is as follows: Variable product cost per unit $ 80 Variable administrative cost per unit 35 Total fixed overhead 53,000 Total fixed administrative 11,050 Using the variable cost method, what markup percentage to variable cost should be used

Selma Inc. is comparing several alternative capital budgeting projects as shown below.
Projects A B C
Initial Investment $40,000 $60,000 $80,000
Present value of cash inflows $60,000 $55,000 $100,000
Using the profitability index, rank the projects, starting with the most attractive.

On January 1, 2018, M Company granted 90,000 stock options to certain executives. The options are exercisable no sooner than December 31, 2020, and expire on January 1, 2024. Each option can be exercised to acquire one share of $1 par common stock for $12. An option-pricing model estimates the fair value of the options to be $5 on the date of grant. If unexpected turnover in 2019 caused the company to estimate that 10% of the options would be forfeited, what amount should M recognize as compensation expense for 2019? Group of answer choices $150,000. $30,000. $60,000. $120,000.

The following credit sales are budgeted by Sunland Company: January $274000 February 350000 March 470000 April 360000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is

Suppose you've just inherited $66,000 from your rich Aunt. You're trying to decide whether to keep the $66,000 in cash so that you can use it for transactions or to deposit the entire amount in a savings account for one year. Suppose that the interest rate on a savings account is 2.5% per year. What would be the opportunity cost of holding the $66,000 as money