Marvel Shoes reported the following items on its statement of cash flows for the current year: Net cash inflows from operating activities $70,000 Net cash outflows from investing activities (20,000) Net cash outflows from financing activities (40,000) Cash balance at the beginning of the year 30,000 Read the information about Marvel Shoes. What was the amount of net increase or decrease in the
cash balance for Marvel Shoes for the current year?
a. $ 10,000 increase
b. $ 30,000 increase
c. $ 40,000 increase
d. $ 70,000 increase
a
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Under GAAP, which one of the following types of costs should not be capitalized?
A) rearrangements B) routine maintenance C) replacements D) additions
On March 2, 2014, Burton Corporation issued 4,000 shares of 6 percent cumulative $100 par value preferred stock for $434,000 . Each preferred share carried one nondetachable stock warrant which entitled the holder to acquire, at $17, one share of Burton $10 par common stock. On March 2, 2014, the market price of the preferred stock (without warrants) was $90 per share and the market price of the
stock warrants was $15 per warrant. The amount credited to Paid-In Capital in Excess of Par-Preferred by Burton on the issuance of the stock was a. $0. b. $8,000. c. $34,000. d. $62,000.
Timothy's gross pay for this month is $8,950
His gross year-to-date pay, prior to this month, totaled $112,000. What is the amount of FICA tax withheld from Timothy's pay for this month? (Assume an OASDI rate of 6.2%, applicable on the first $117,000 earnings, and a Medicare rate of 1.45%, applicable on all earnings.) A) $310.00 B) $129.78 C) $439.78 D) $554.90
Too much investment in current assets reduces firm's profitability, whereas too little investment in current assets increases the risk of not being able to pay debts as they come due
Indicate whether the statement is true or false