Business, 13.02.2020 03:44, moraleskarina491
Calculating Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant assets and reported the following income statement for the current year: Sales $750,000 Cost of Goods Sold $470,000 Wages Expense 110,000 Rent Expense 42,000 Insurance Expense 15,000 637,000 Net Income $113,000 Additional balance sheet information about the company follows: End of Year Beginning of Year Accounts Receivable $54,000 $49,000 Inventory 60,000 66,000 Prepaid Insurance 8,000 7,000 Accounts Payable 22,000 18,000 Wages Payable 9,000 11,000 Use the information to a. Calculate the net cash flow from operating activities under the indirect method. $Answer b. Compute Lincoln Company's operating cash flow to current liabilities (OCFCL) ratio. (Assume current liabilities consist of accounts payable and wages payable.) (Round your answer to two decimal places.) Answer
Answers: 3
Business, 22.06.2019 08:30, hartzpeyton136
Match each item to check for while reconciling a bank account with the document to which it relates.(there's not just one answer)1. balancing account statement2. balancing check registera. nsf feesb. deposits in transitc. interest earnedd. bank errors
Answers: 2
Business, 22.06.2019 14:30, Hannahdavy5434
Stella company sells only two products, product a and product b. product a product b total selling price $50 $30 variable cost per unit $20 $10 total fixed costs $2,110,000 stella sells two units of product a for each unit it sells of product b. stella faces a tax rate of 40%. stella desires a net afterminustax income of $54,000. the breakeven point in units would be
Answers: 3
Calculating Net Cash Flow from Operating Activities (Indirect Method) Lincoln Company owns no plant...
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