Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event either does not affect the element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) On April 1, Year 2, Jenkins Company repaid a $20,000, one-year, 6% note and interest to Community Bank. Interest on the note had been accrued on December 31, Year 1.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
(D) (D) (D) (NA) (I) (D) (D)
Repaying the note and interest decreases assets (cash), decreases liabilities (notes payable and interest payable), and decreases stockholders' equity (retained earnings). It increases expenses (for the Year 2 interest expense), which decreases net income. The principle is reported as a cash outflow for financing activities and the interest is reported as a cash outflow for operating activities.
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To improve the _______ from prospecting, suppliers must gain the commitment and support of the sales force
To do so, business market managers must create programs and systems for the sales force that deliver four critical elements: knowledge, motivation, experience, and sales support a. qualify b. yield c. data mining d. prospect
Dracor Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment is expected to cost $280,000 with a 7-year life, no salvage value, and will be depreciated using straight-line depreciation. The expected annual income related to this equipment follows. Compute the (a) payback period and (b) accounting rate of return for this equipment.Sales?$900,000?Costs:???Manufacturing$545,000??Depreciation on machine40,000??Selling and administrative expenses249,000(834,000)?Income before taxes?66,000?Income tax (30%)? ( 19,800)?Net income?$ 46,200?
What will be an ideal response?
A branch where flow is permissible in either direction is a(n):
A) directed branch. B) undirected branch . C) labeled branch. D) unlabeled branch.
A joint venture resembles a partnership but is taxed like a corporation.
Answer the following statement true (T) or false (F)