Answered step by step
Verified Expert Solution
Question
1 Approved Answer
below is the balance sheet for these multiple choice please !! CONSOLIDATED BALANCE SHEET (in millions) Year Ending Dec. 31 2020 2019 ASSETS begin{tabular}{lcc} Cash
below is the balance sheet for these multiple choice please !!
CONSOLIDATED BALANCE SHEET (in millions) Year Ending Dec. 31 2020 2019 ASSETS \begin{tabular}{lcc} Cash and Cash Equivalents & $1,000 & $800 \\ Accounts Receivable & 300 & 500 \\ Merchandise Inventory & 880 & 650 \\ Short Term Investments & 145 & 120 \\ \hline TOTAL CURRENT ASSETS & 2,325 & 2,070 \\ PP\&E, net accumulated depreciation of & 1,250 & 1,000 \\ \$600 in 2020 and \$500 in 2019 & & \\ \hline TOTAL ASSETS & $3,575 & $3,070 \\ \hline \hline \end{tabular} LIABILITIES \begin{tabular}{lcc} Accounts Payable & $530 & $500 \\ Other Payables & 410 & 362 \\ \hline TOTAL CURRENT LIABILITIES & 940 & 862 \\ & & \\ Mortgage Payable & 0 & 700 \\ Long-Term Bank Loan & 900 & 850 \\ \hline TOTAL LIABILITIES & 1,840 & 2,412 \end{tabular} OWNERS EQUITY Common Stock Preferred Stock Additional Paid in Capital Retained Earnings TOTAL OWNERS EQUITY 8070 TOTAL LIABILITIES + OWNERS EQUITY $3,575 $3,070 No Property, Plant \& Equipment (PPE) was sold during 2020. > No short-term investments were sold during the year. > All depreciation expense is included in SG\&A > Because there is no dividends payable account at either the start of end of the year, you may assume all dividends declared in 2020 were paid in 2020. Question 16 (5 points) What is the total dollar value of dividends paid in 2020? $473 $1,027 $889 No dividends were paid by Avett Inc. in 2020 Question 17 (5 points) What is Avett, Inc.'s 2020 total "Common Stock Issuance" to be reported on its 2020 Statement of Cash Flows? $40 $50 $30 $10 Question 18 (5 points) How do Other Payables impact Avett Inc.'s 2020 Statement of Cash Flows? The periodic change in Other Payables is added in Cash Flows from Operations The periodic change in Other Payables is added in Cash Flows from Financing The periodic change in Other Payables is added in Cash Flows from Investing The periodic change in Other Payables is not included on the Statement of Cash Flows The periodic change in Other Payables is subtracted in Cash Flows from Operations The periodic change in Other Payables is subtracted in Cash Flows from Investing The periodic change in Other Payables is subtracted in Cash Flows from Financing Question 19 (5 points) How does Accounts Receivable impact Avett Inc.'s 2020 Statement of Cash Flows? The periodic change in Accounts Receivable is subtracted in Cash Flows from Operations The periodic change in Accounts Receivable is added in Cash Flows from Financing The periodic change in Accounts Receivable is is added in Cash Flows from Investing The periodic change in Accounts Receivable is not included on the Statement of Cash Flows The periodic change in Accounts Receivable is subtracted in Cash Flows from Financing The periodic change in Accounts Receivable is added in Cash Flows from Operations The periodic change in Accounts Receivable is subtracted in Cash Flows from Investing
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started