Ross Corp uses the indirect method to prepare the statement of cash flows
Refer to the following section of the comparative balance sheet:
Ross Corp
Comparative Balance Sheet
December 31, 2017 and 2016
2017 2016 Increase/(Decrease)
Accounts Payable $8,000 $9,000 $(1,000 )
Accrued Liabilities 3,000 1,500 1,500
Long-term Notes Payable 56,000 60,000 (4,000 )
Total Liabilities $67,000 $70,500 $(3,500 )
The change in Accrued Liabilities is shown as a negative cash flow in the adjustments to net income.
Indicate whether the statement is true or false
FALSE
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Use this information to answer the following question. Oct. 1 Inventory 200 units @ $12.00 6 Purchase 300 units @ $13.20 13 Purchase 100 units @ $14.40 20 Purchase 200 units @ $15.60 25 Purchase 40 units @ $16.80 Total sales 620 units A periodic inventory system is used. Using the average-cost method, the cost assigned to ending inventory is
A) $3,036. B) $3,168. C) $3,384. D) $8,556.
According to a study by Behavioral Sciences Research Press, the problem of call reluctance in sales is widespread and costly. Which of the following findings is true?
A. In some cases, the call-reluctant salesperson loses $50,800 per month in gross sales. B. The call-reluctant salesperson loses more than 50 new accounts per month to competitors. C. Eighty percent of all sales veterans experience one or more episodes of call reluctance severe enough to threaten their continuation in sales. D. Some 96 percent of all new salespeople who fail within their first year do so because of insufficient prospecting activity. E. Call-reluctant stockbrokers acquire 48 fewer new accounts per year than brokers who have learned to manage their fear.
The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is less than 24 oz?
What will be an ideal response?
List and discuss three ways in which the statement of cash flows helps financial statement users
What will be an ideal response