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. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event does not affect that 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 December 31, Year 1, Flagler Corporation had a balance of $20,000 on a line-of-credit with City Bank. Flagler made a payment of $11,200, which included $10,000 on the principal and $1,200 interest. Show the effects of this transaction on Flagler's financial statements.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt.
of ?IncomeCash Flows???????
What will be an ideal response?
(D) (D) (D) (NA) (I) (D) (D)
Making a payment on a line of credit decreases assets (cash) for the amount of the payment, decreases liabilities (line of credit liability) for the amount of the principal payment, and decreases stockholders' equity (retained earnings). It increases expenses (interest expense) for the amount of the interest payment, which decreases net income. The principal repayment is reported as a cash outflow for financing activities, while the interest payment is reported as a cash outflow for operating activities on the statement of cash flows.
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In several major cities in the U.S, the ________ operates business service centers with staffs to provide a complete education on the way government agencies buy, the steps that suppliers should follow, and the procurement opportunities available
A) Defense Logistics Agency B) Federal Business Agency C) Small Business Administration D) General Services Administration E) U.S. Commerce Department
Use the following information to obtain the ratios requested below. Where necessary, carry answers to one decimal place. Dividends per share: $1.14 Market price per share: $54 Net income: $118,000 Stockholders' equity, beginning of year: $500,000 Stockholders' equity, end of year: $530,000 Earnings per share: $1.75 a. Dividends yield = _____________% b. Return on equity = _____________% c
Price/earnings (P/E) ratio = __________ times Fill in the blank(s) with correct word
___________ are independent workers who supply organizations with short-term talent for projects that need to be completed within a certain amount of time while ____________ are independent workers who supply organizations with part-time talent for projects that need to be completed within a certain amount of time.
What will be an ideal response?
Which of the following is a similarity between online surveys and telephone surveys??
A) ?Both require a proper interviewer. B) ?Both are inexpensive surveys. C) ?Both allow personal contact between interviewer and correspondent. D) ?Both are useful for obtaining detailed information.