All Trust assets are regarded as being owned legally by a Trustee. The Trustee also has the authority to administer the Trust's assets unilaterally, without the beneficiaries' approval or involvement, as the legal owner of those assets.
Explain about the trustee?In line with the provisions of the trust agreement and your objectives, the trustee's responsibility is to manage and distribute the trust's assets. Trustees are required by law to administer your trust assets and handle daily financial affairs on your behalf. They are also required to do so by fiduciary law.
A Trustee is a person who takes care of the assets kept in a Trust as a custodian. In accordance with the instructions provided, he or she is in charge of overseeing and managing a Trust's financial operations. Frequently, the person who establishes the trust serves as the trustee until their inability to do so or their passing.
Hence, Manager describes as a Trustee.
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an old man is selling a car you are interested in, he states the car has 57,000 miles on it. the car actually had 157,000 miles on it. the man selling the car did not know of this since he had bought it from a previous owner did not tell him of the additional 100,000 miles. what is this an example of?
This is an example of Misrepresentation.
What is Misrepresentation?
A misleading statement of a substantial fact made by one party that influences the other party's decision to enter into a contract is referred to as a misrepresentation.
The agreement may be deemed void if the deception is uncovered. The person who has been negatively damaged may claim damages depending on the circumstances. In this kind of contract dispute, the plaintiff is the person asserting the claim, and the party accused of creating the misrepresentation is the defendant.
Types of Misrepresentation:Misrepresentations come in three different flavors.
A false statement of a substantial fact made by the defendant that was untrue when the contract was signed constitutes innocent misrepresentation. Rescission or cancellation of the contract is typically the appropriate course of action in this case.
Negligent misrepresentation is when the defendant made a claim without making any effort to confirm that it was accurate prior to sign a contract. This goes against the idea of using "reasonable care," which a party is required to do before making an agreement. Contract revocation and maybe financial compensation are the remedies for irresponsible misrepresentation.
A statement that the defendant made recklessly or with the knowledge that it was untrue in order to persuade the other party to enter into a contract is considered fraudulent misrepresentation.
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You have performed an audit and found an active account for an employee with the username joer. This user no longer works for the company. Which command can you use to disable this account?.
Since this user no longer works for the company, a command which you can use on a Linux computer system to disable this account after an audit is: usermod -l joer.
What is a Linux?In Computer technology, Linux can be defined as an open-source and community-developed operating system (OS) that is designed and developed for use on the following electronic computing devices:
Embedded systems.Computers.Mobile devices.Mainframes.What is a Linux command?A Linux command can be defined as a software program that is designed and developed to run on the command line, in order to enable an administrator or end user of a Linux computer network perform both basic and advanced tasks by only entering a line of text such as disabling a username.
In conclusion, a Linux command which can be used to disable the username of an end user who no longer works for a company, but has an active account is usermod -l joer.
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in his last order, the bakery manager at bread of the earth bakery purchased a different brand of whole wheat flour from his regular supplier, best bakery supplies. this is an example of a
this is an example of a Modified Rebuy.
What is Modified Rebuy?
Modified rebuy is the in-between process where some review of the buying situation is done though not as much as in new-task buying.
Modified Rebuy helps the business in saving a lot of time. Business maintain lists of such materials and products which can be bought again from the same supplier or another supplier from an approved list which is already on boarded and knows the requirement well.
A buyer can acquire information for a modified rebuy by analyzing competition by comparison shopping, by analyzing current information found in trade publications or at trade shows, or by hiring the services of a resident buying office.
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ian's house and land have a market price of $225,000 and an assessed value of 55% of that amount. his state has a property tax rate of 0.088. how much does ian pay in property tax every year?
Ian will pay a yearly property tax of $10,890.
⇒$255,000 x 0.55 x 0.088 = $10,890
What is Property Tax?
An ad valorem tax on the value of a property is known as a property tax or millage rate. The governing body of the region where the property is located is responsible for collecting the tax. A town, a county, a federated state, or the federal government are all examples of this.
How is property tax calculated?
To estimate your annual property tax:
Multiply the taxable value of your property by the current tax rate for your property's tax class.
Property tax rates change each year, as well as the value of exemptions and abatements. The actual taxes you pay in July might be different.
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if a buyer has a gross monthly income of $8,500, student loans of $150/month, and car payments of $250/month, what is the maximum monthly piti loan he or she could get if the lender has set a total debt ratio of 38%?
$2830 is the maximum monthly PITI loan he or she could get.
Define PITI loan.Principal, interest, taxes, and insurance, or PITI, are the four criteria that lenders use to determine your eligibility for a mortgage. One of the typical elements of a mortgage payment is this. PITI is a common way for buyers and lenders to assess the affordability of a particular mortgage. If your homeowner's insurance or real estate tax bill fluctuates over time, it can vary. Depending on the ARM terms you choose, your principal and interest may alter if you take out an adjustable-rate mortgage (ARM) after the initial low-rate period expires.
Gross monthly income = $8,500
Student loans per month = $150
Car payments per/month = $250
Maximum monthly piti loan = ($8,500 x 38%) - $150 - $250
=$2830
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suppose the store owner actually pays $1 to buy each copy of the magazine and sells to customers for $2 per copy. if magazines left at the end of the week have no salvage value and any unmet demand is lost, then is it better to stock 3 or 4 copies of the magazine at the start of a week to maximize the expected profit?
It is better to stock 3 copies of the magazine at the start of the week to maximize the expected profit.
What is profit?
In accounting, a profit is an income that is given to the owner during a successful market process of production (business). Profitability, which is the owner's primary interest in the revenue process of market production, is measured by profit. There are several profit metrics that are frequently used. Income generation and distribution must always be balanced in order for income to be formed in market production. Within the review period, the generated income is consistently distributed as economic value to the production's stakeholders. The portion of income formation that the owner is able to retain for themselves during the income distribution process is referred to as the profit. Profit is among the main drivers of economic prosperity because it creates opportunities for growth in both income and production. In this context, the terms "income," "profit," and "earnings" are interchangeable.
If the store owner stocks 3 copies of the magazine at the start of the week, the expected profit is $3. If the store owner stocks 4 copies of the magazine at the start of the week, the expected profit is $4.
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if the decision maker has no knowledge about the likelihood of any of the states of nature occurring, then it can be stated that the decision maker is operating in an environment of
The decision-maker in situations of complete uncertainty has no knowledge at all, not even regarding the possibility that any given natural state would occur. In these circumstances, the decision-actions maker's are solely determined by how they feel about the uncertainty.
Do humans have any power on the natural world's conditions?Any circumstance involving decision-making consists of three elements: The options on offer (alternatives or acts). Uncontrollable future events are natural phenomena that are not in the decision-control. maker's The rewards that are required for each possible decision alternative and natural state. in statistics Decision analysis....more potential future occurrences, referred to as states of nature. Everything that could possibly occur is included in the list of potential states of nature, and each state is defined with the understanding that only one of them will actually materialize. The action with the highest expected value should be chosen after computing the expected value for each action. The probability of the outcomes are only included in this technique out of the four.
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assume an economy has grown by 4% per year over the past 30 years. during the same period, the labor force has grown by 1% per year and the quantity of physical capital has grown by 5% per year. each 1% increase in physical capital per worker is estimated to increase productivity by 0.4%. assume that human capital has not changed during the past 30 years. how much has technological progress contributed as a percentage of productivity growth?
Contribution of technological progress as a percentage to productivity growth are
(1.4%/3%)×100 = 46.67%
He discovered that during this time, the average yearly rise in real GNP was 2.9%, with technical progress accounting for 28% of that growth. The estimated contributions of different elements, including labor, education, and capital Our chance to enhance production without increasing inputs or paying these costs is productivity growth .Technology innovation makes it possible for more and better goods and services to be produced more effectively, which is essential for prosperity. However, the procedures used to develop, modify, and use technology in manufacturing are complex. Technology innovation makes it possible for more and better goods and services to be produced more effectively, which is essential for prosperity. However, the procedures used to develop, modify, and use technology in manufacturing are complex.
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Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of ________.
Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of Social entrepreneur.
What is Social entrepreneur?
An entrepreneur that creates social initiatives, such as charities, for-profit companies with social missions, and other non-governmental organizations, strives to build up social capital is known as a social entrepreneur.
The process by which individuals, businesses, and entrepreneurs create and finance solutions that directly address social challenges is known as social entrepreneurship. Therefore, a social entrepreneur is someone who looks into business prospects that benefit their neighborhood, society, or the entire planet.
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after determining that consumers had concerns about certain ingredients that may cause health issues, patrizzi's pizza began offering a gluten-free pizza product. the creation of this new product was the result of
After noticing the concerns of consumers regarding ingredients that may lead to health issues, patrizzi's pizza started making a gluten-free pizza product. The making of this new product was the result of marketing opportunity.
Elaborate on a marketing opportunity.A qualified sales lead that a sales team evaluates and determines may be in need of a good or service is referred to as a marketing opportunity. Opportunities for marketing are more likely to result in a successfully closed sale and lay the groundwork for generating sales. Marketing opportunities are frequently superior to other kinds of sales leads since the customer has already confirmed that they have the resources to buy your product or solution and that they have a problem for which you offer a solution.
No matter how universally appealing a good or service may be, not everyone will buy it, which is why it's so crucial to spot and seize marketing chances.
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when, after discussions with the client, an accountant prepares financial statements that contain a known departure from the applicable financial reporting framework for an engagement performed in accordance with ssars, the accountant should
SSARS No. 21: Statement on Standards for Accounting and Review Services In October, the publication Standards for financial Accounting and Review Services:
Accounting Clarification and Recodification was released. 21 In cases when the accountant's professional judgment indicates that such financial statements would be misleading, they should not be prepared. For example, the accountant shouldn't remove nearly all of the disclosures needed by the financial reporting system. Engagements in preparation provide prepared financial statements on the company's behalf. In essence, the accountant gathers the company's financial data and creates the financial schedules for management. The standards for reviews, compilations, and engagements to create financial statements are clarified and updated by SSARS No. 21. Significant standard-related modifications are also included. for public-practice accountants that create financial statements for their customers. SSARS is largely used for preparations, compilations, and reviews, while SSAE is utilized for attestation activities (things unrelated to the financials). Accounting An accounting framework is a collection of standards used to evaluate, explain, and report the data contained in a company's financial statements.
The management of a firm is required by law in many countries to create and present financial statements that are compliant with local regulations. This is a legal obligation because the law requires it.
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PLEASE HELP!!! Need it by SUNDAY!!!
1. on june 1, 2015, planet music has accounts payable of $45,000. during the month, debits of $3,000 and credits of $11,000 were made to the account. at the end of june 2015, what was the accounts payable balance? a credit balance of $53,000 a debit balance of $42,000 a credit balance of $56,000
Accounts Payable balance at the end of June 2015 = Beginning balance + Credits (On account purchases) - Debits (Cash paid)
= $ 45000 + 11000 - 3000
= $ 53,000 Credit
Living a balanced life means considering every aspect of your life, including relationships, work, fitness and health, and emotional well-being. We all get bogged down with work and family commitments at times, but we need to make time for ourselves so that we can fulfill all of them.
Finding balance in life can help improve your overall health. When you are in balance, you have time to pay attention to your body's needs. Instead of regretting not having time to take care of yourself, you can prioritize diet, exercise, meditation, etc. An example of balance is when a person places two objects of equal size on a scale. is. An example of balance is that flower arrangements are similar in size and color so that certain pieces do not stand out or look out of place.
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jason's company has always emphasized that every employee is an important part of the company's success and does not highlight individual achievements. by emphasizing the group, jason's company will most likely
Every employee is a crucial component of Jason's company's success, and the organization does not emphasize individual accomplishments. By placing a strong emphasis on the group, Jason's business will probably deter staff from switching jobs.
How can you stop workers from quitting?Give your staff arduous tasks to do.
Show them that you care.
Provide a lot of commentary.
What is the most typical explanation for employees quitting a company?Lack of recognition, unclear direction, and a negative corporate culture are at the top of the list. Genuine relationships between managers and their staff are essential for high employee retention rates. They achieve this by regularly soliciting employee feedback and by upholding the principles of transparency and trust.
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bard enterprises offered a customer a note for extended payment on november 1, 2018. the $8,000 note was for 6 months at 5%. bard enterprises has a december 31 year end and must accrue interest on that date. how much interest has accrued on the note receivable on december 31, 2018?
Interest accrued on the note receivable on December 31, 2018, is $ 400.
Interest = (Principal × Rate × Number of months )/(100 ×12)
= (8,000 × 5 × 6 )/(100× 12)
= (240,000 )/( 1200)
= $ 200 (Interest for 1 month)
So, Interest for 2 months (from November 1 to December 31)
= $ 200 ×2
= $ 400 (Answer)
1. Accounts receivable are credited and notes receivable are debited when notes receivable are extended for payment.
2. On December 31st, $400 is deducted from interest Receivable and credited to interest Income for accrued interest.
3. Accrued interest must be recorded in accrual accounting.
Interest is the fee you pay to borrow money or the fee you charge to lend money. Interest is often expressed as an annual percentage of the borrowed amount. This percentage represents the loan's interest rate.
Interest is the amount paid over and above the original amount to a lender or depositor by a borrower or deposit-taking financial institution at a predetermined rate in the domains of finance and economics (the amount borrowed). It differs from any fees the borrower may be required to pay to the lender or another party.
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land is purchased for $209,000. additional costs include a $14,400 fee to a broker, a survey fee of $2,400, $2,200 to construct a fence, and a legal fee of $9,400. what is the cost of the land?
The total cost of land is $209,000 + $14,400 + $2,400 +$2,200+$9,400 that is $237,400 .
What is legal fee ?
Legal expenses are considered nominal accounting since they are considered an indirect cost of doing company.
How is legal fees calculated ?
The amount of time spent on your issue, the lawyer's skill, expertise, and reputation, the uniqueness and complexity of the case, the outcomes, and the associated costs are just a few of the variables that affect legal fees.
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the file smartphone contains data on the monthly sales revenue for a smartphone manufacturer. click on the datafile logo to reference the data. create line charts to depict the sales time series at the annual level, the quarterly level, and the monthly level. what insight do each of these three views provide?
When data needs to be transformed to match the target system's requirements, data transformation is utilised.
Data transformation, in computing, is the process of changing data from one format or structure into another format or structure so that it may be used, cleaned up, and organised into a format that can be analysed to assist decision-making processes and to fuel the growth of a business. It is a crucial component of the majority of data management and integration jobs, including application integration, data wrangling, data warehousing, and data integration.
Depending on the required modifications to the data between the source (initial data) and the destination (final data), data transformation can be straightforward or difficult. The process of transforming data typically involves both manual and automated steps.
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foreign direct investment group of answer choices is an entry-mode strategy. symbolizes the highest rate of internationalization. means that a multinational owns, in part or in whole, an operation in another country. all of the above
In the past, a company would make an investment in constructing or upgrading a factory in another nation through foreign direct investment.
The acquisition of a controlling interest in a business in a different market is now included in this definition.
What is the strategy for direct foreign investment?
A type of cross-border investment known as foreign direct investment (FDI) occurs when a resident investor in one economy acquires a significant amount of influence and a long-term interest in a business in another economy.
What factors determine direct foreign investment?
When a person or company owns 10% or more of a foreign business, that is considered foreign direct investment. The International Monetary Fund considers a holding of less than 10 percent to be part of an investor's stock portfolio.
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Which of the following information is needed when creating an effective budget? (1 point)
Onet income, variable expenses, fixed expenses, and savings
O gross income, variable income, fixed income, and savings
O net income, variable income, fixed income, and savings
O gross income, variable expenses, fixed expenses, and savings
Information is needed when creating an effective budget is net income, variable expenses, fixed expenses, and savings.
What is net income?Net income refers to the income of an individual or company after deducting expenses, benefits and taxes.
In business, net income is what a business has left over after all expenses, including wages, costs of goods or raw materials, and taxes. For an individual, net income is "take home" money after taxes, health insurance and pension contributions are deducted. Net income should ideally be greater than expenses to demonstrate financial health.
To calculate net income, take gross income - the total amount of money earned - and then subtract expenses such as taxes and interest payments.
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accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the depositor. this item would be included on the bank reconciliation as a(n)
According to the company's records, this item would appear as a(n): Deduction from the amount on the bank reconciliation. A debit memo for an NSF check that was received from a customer was included with the bank statement.
What is discovered during the bank reconciliation?The bank column in the cash book displays the cash at the bank, whereas the cash column in the cash book displays the available cash. Similar to this, every consumer has a record with the bank. Deposits are recorded on the credit side of the bank books, whilst withdrawals are recorded on the debit side. Unpaid checks are already listed in the book, thus they are a bank reconciliation item. Only for goods needed for book reconciliation will the company create journal entries. Therefore, there is no need to journalize unpaid checks. The right response is outstanding checks. The transit deposit is added to the bank reconciliation statement, but the unpaid checks are subtracted. Thus, the right response is
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which view of leadership suggests leaders are more effective once they have analyzed themselves, their groups, and the circumstances in which they must lead?
In accordance to situational leadership, leaders are more effective and efficient after they have assessed themselves, their teams, and the situation they are in.
Give an account on Situational leadership.Situational leadership is the practice of adapting your management style in accordance to the needs of the team or specific team members in each unique situation or assignment.
Managers that use situational leadership can more easily adjust to the people they lead as well as their working settings. Every prospective leader should gain the ability to adjust their leadership style as part of their development process. The situational leadership approach takes into account the amount of employee commitment and competency. These can change depending on the performance areas and obstacles. It also takes into account the difficulty of the assignment and the amount of guidance and support needed from the leader.
With this flexibility, leaders can adapt their leadership style to each situation, empowering their team members and bringing out the best in them.
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the most typical objective for promotion is to multiple choice increase demand for a product. inform customers of new product offerings. remind consumers of a product benefit. avoid having to use a push strategy. stabilize sales.
The most typical objective of promotion is to inform the customers about new product offering. So, the correct answer is (b).
The use of promotion as a marketing technique helps both suppliers and buyers communicate among themselves. Through this, the vendor attempts to persuade and convince customers to buy their products or services. It helps to inform consumers about the company, its products, and its service. Promotion strategy is used by the organization to boost its credibility. This marketing plan titillates consumers' curiosity and has the possibility of converting them into committed clients.
Promotion is one of four Ps of marketing such as product, price, promotion and place. Promotion is one of the most important activities carried out by all the organization, because without doing it they will not be able to inform the customers about their new offerings.
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hugh jackson is thinking about buying an investment. the investment option that he is thinking about buying is an investment where investors pool their money. one of the key features is that it is managed by professional managers. what investment is hugh thinking about purchasing? multiple choice common stock preferred stock corporate bond real estate mutual fund
Hugh is thinking about purchasing a Mutual Fund.
A mutual fund is a business that pools money from multiple investors and invests it in securities such as stocks, bonds, and short-term debt. The portfolio of the mutual fund is its total holdings. Mutual funds are purchased by investors.
A mutual fund is a type of investment vehicle that pools money from investors who share a common investment goal. Based on the scheme's objectives, it then invests the funds in various asset classes such as equities and bonds. These investments are made on behalf of the investors by an asset management company (AMC).
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the strategic planning committee at comfort fabric clothing company consists of managers from engineering, r&d, production, marketing, and finance. this is an example of a(n)
At Comfort Fabric Clothing Company, managers from engineering, R&D, production, marketing, and finance serve on the strategic planning committee. An illustration of a cross-functional team is this.
What is cross functional team?A cross-functional team is made up of individuals with various specialties who work together to accomplish a common objective. Employees from all divisions and levels usually participate.
Teams made up of members from multiple organizational areas, such as marketing, product development, quality assurance, sales, and finance, collaborate to accomplish a common objective.
Teams that see a mutual benefit in collaborating and working toward a similar goal are examples of cross functional teams. These teams can include marketing and design teams, design and engineering teams, sales and customer success teams, and many others.
Teams can be split into four primary categories: project teams, self-managed teams, virtual teams, and operational teams. The members of your team will be chosen based on your team's goals, environment, and organisational structure. Each squad has its own unique combination of advantages and disadvantages.
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during its most recent fiscal year, dover, incorporated had total sales of $3,380,000. contribution margin amounted to $1,590,000 and income was $535,000. what amount should have been reported as fixed costs in the company's contribution margin income statement for the year?
$1,105,000 have been reported as fixed costs in the company's contribution margin income statement for the year.
Amount or equivalent paid or charged for something: Price The average cost of a college education has increased dramatically. b: Effort or expense (in the form of effort or sacrifice) made to achieve a goal. Although he gained fame, he lost a few friends.
“Cost” in the singular refers to the total for the entire group. "Cost" refers to all pieces in that group. For example, "The cost of a service includes the cost of materials and labor." From legal contracts to budget discussions, the difference between "cost" and "cost" often confuses people.
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the risk mitigation plan serves as a formal repository source for capturing the project knowledge regarding risks and their status. group of answer choices true false
False, A risk register is an information depository an association creates to document the pitfalls they face and the responses they ’re taking to address the pitfalls.
Risk mitigation is the process of planning for disasters and having a way to lessen negative impacts.
what is risk migration?Risk mitigation is a strategy to prepare for and lessen the goods of pitfalls faced by a business. similar to risk reduction, risk mitigation takes way to reduce the negative goods of pitfalls and disasters on business durability. pitfalls that might put a business at threat include cyberattacks, rainfall events and other causes of physical or virtual damage. threat mitigation is one element of threat operation and its perpetration will differ by association.
Identify all possible events in which threat is presented.
Perform a threat assessment
Prioritize pitfalls
Track pitfalls
apply and cover progress
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north safety products manufactures butyl gloves that offer permeation resistance to gas or water vapor for workers who use dangerous chemicals like ketones. the company has fixed costs of $12 million for its butyl glove production and unit variable costs of $3 per pair. if the company charges $7 per pair, how many pairs of gloves must it sell to break even? multiple choice 120,000 pairs 400,000 pairs 666,667 pairs 1,000,000 pairs 3,000,000 pairs
North safety products will manufacture 3,000,000 pairs at break-even sales, so the correct option is (e).
Given information:
fixed cost = $12 million = $12,000,000
Unit variable costs = $3 per pair
Charge per unit = $7 per pair
Break -even sales = fixed cost/ (price minus -unit variable cost)
Break- even sales = $12,000,000/ (7-3)
= 3,00,000 pairs
The revenue level at which a company produces no profit is defined as break -even sales. These sales figure actually covers all of the variable expenses related to the sales as well as the company's business fundamental fixed costs. Understanding the break- even sales level gives the manager a benchmark for the lowest volume of sales that must be produced throughout every reporting period to prevent losses. For instance, the break -even level can be utilized to reduce expenditures to meet the projected level of future sales if a company slump is predicted.
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A ________ occurs when a speculative attack on the exchange value of a currency results in a sharp depreciation in the value of the currency or forces authorities to expend large volumes of international currency reserves and sharply increase interest rates to defend the prevailing exchange rate.
A currency crisis happens when a speculative attack on a currency's exchange value causes a severe decline in that currency's value or prompts authorities to use significant amounts of their foreign currency reserves and drastically raise interest rates to maintain the current exchange rate.
Explain about the currency crisis?
A currency crisis is also referred to as a balance of payments crisis since it arises from persistent balance of payments deficits. Such crises frequently end with a currency devaluation. The government and financial institutions would struggle to pay their debts, which could lead to an economic crisis.
Currency crises have occurred frequently in recent history. These include a sudden and significant devaluation of a country's currency, along with erratic markets and a lack of confidence in the economy. Even though currency crises are frequently abrupt, they can occasionally be predicted.
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16. xylem technologies purchased a trademark from phloem semiconductor for $5 million. how should this new purchase be classified on the balance sheet for xylem? a non-current intangible liability a non-current intangible asset a current intangible asset it should not be recognized as the trademark has no tangible value.
For $5 million, xylem Technologies acquired a trademark from phloem Semiconductor. On xylem's balance sheet, this new acquisition can be categorized as a current intangible asset. Intangible assets often have a lifespan of longer than a year. These assets are not categorized as current assets as a result.
An asset that is not physical in nature is said to be intangible. Intangible assets include goodwill, brand awareness, and intellectual property like patents, trademarks, and copyrights. Contrasting with tangible assets like real estate, automobiles, machinery, and stock are intangible assets.
Intangible assets lack physical substance, are non-financial, and can be separated. These resources might be created domestically or bought from other companies. Certain requirements must be met if the intangible asset is developed internally by the organization.
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the following information was drawn from the year 1 accounting records of ozark merchandisers: inventory that had cost $20,400 was sold for $36,720 under terms 2/20, net/30. customers returned merchandise to ozark five days after the purchase. the merchandise had been sold for a price of $1,254. the merchandise had cost ozark $760. all customers paid their accounts within the discount period. selling and administrative expenses amounted to $3,672. interest expense paid amounted to $290. land that had cost $6,900 was sold for $8,625 cash. required a. determine the amount of net sales. b. prepare a multistep income statement. c. where would the interest expense be shown on the statement of cash flows? d. how would the sale of the land be shown on the statement of cash flows?
C) Interest expense should under Cash flow from operating activities
D) Sale of land shown in Cash flow from investing activities $8625
What is Cash flow?
Cash flow refers to the quantity of cash or money that a corporation gets or expends as payment(s) to creditors. Cash flow analysis is frequently used to assess a company's liquidity condition. It provides a depiction of the amount of cash going into the business, where it is coming from, and how much is leaving. As previously stated, cash flows can be either positive or negative. It is computed by deducting the cash amount at the start of a period, also known as the opening balance, from the cash position at the conclusion of the period (which could be a month, quarter, or year), also known as the closing balance.
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