Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help please all of it i answered is wrong During 2021, Moss Corp. made $150,000 in cash payments to employees for wages. In

i need help please all of it i answered is wrong
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
During 2021, Moss Corp. made $150,000 in cash payments to employees for wages. In which section of the statement of cash flows will this cash flow appear? Operating Section Investing Section Which method for preparing the operating section of the statement of cash flows typically leads to a higher operating cash flow total? The direct method The indirect method They both lead to the same amount It depends on the circumstances How much in current assets did Kuithe Corp. report in its 2020 balance sheet? (just enter the number, without any commas or a dollar sign) Financial Statements for 2020 Balance Sheet Income Statement Assets Cash Accounts Receivable, Net Inventory Prepaid Rent Equipment, Net Land Total Assets 2020 2019 $ 62,000 $ 48,000 $ 26,000 $ 23,000 $ 22,000 $ 32,000 $ 40,000 $ 20,000 S 72,000 $80,000 $ 30,000 $ 40,000 $ 252,000 $ 243,000 Sales Revenue $ 230,000 Cost of Goods Sold $ (135,000) Wages Expense $ (18,000) Rent Expense $ (10,000) Bad Debt Expense $ (2,000) R&D Expense $ (20,000) Depreciation Expenses (8,000) Interest Expense $ (4,000) Gain on Sale of Land $ 3,000 Income Tax Expense $ (5,000) Net Income $ 31,000 Liabilities and Equity Accounts Payable Wages Payable Income Tax Payable Long-Term Debt Contributed Capital Retained Earnings Total Liabilities and Equity 2020 2019 $ 28,000 $ 24,000 S 23,000 $ 17,000 $ 1,000 $ 8,000 $ 38,000 $ 38,000 $ 120,000 $ 120,000 $ 42,000 $ 36,000 $ 252,000 $ 243,000 130,200 How much in total liabilities did Kuithe Corp. report in its 2020 balance sheet? (just enter the number, without any commas or a dollar sign) Financial Statements for 2020 Balance Sheet Income Statement Assets Cash Accounts Receivable, Net Inventory Prepaid Rent Equipment, Net Land Total Assets 2020 2019 $ 62,000 $ 48,000 $ 26,000 $ 23,000 $ 22,000 $ 32,000 $ 40,000 $ 20,000 $ 72,000 $ 80,000 $ 30,000 $ 40,000 $ 252,000 $ 243,000 Sales Revenue $ 230,000 Cost of Goods Sold $ (135,000) Wages Expense $ (18,000) Rent Expense $ (10,000) Bad Debt Expense $ (2,000) R&D Expense $ (20,000) Depreciation Expense $ (8,000) Interest Expense $ (4,000) Gain on Sale of Land $ 3,000 Income Tax Expenses (5,000) Net Income $ 31,000 Llabilities and Equity Accounts Payable Wages Payable Income Tax Payable Long-Term Debt Contributed Capital Retained Earnings Total Liabilities and Equity 2020 2019 $ 28,000 $ 24,000 $ 23,000 $ 17,000 $ 1,000 $ 8,000 $ 38,000 $ 38,000 $ 120,000 $ 120,000 $ 42,000 $ 36,000 $ 252,000 $ 243,000 252,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Benefits Management How To Increase The Business Value Of Your IT Projects

Authors: John Ward, Elizabeth Daniel

2nd Edition

1119993261, 9781119993261

More Books

Students also viewed these Accounting questions

Question

Evaluate 3x - x for x = -2 Answer:

Answered: 1 week ago

Question

What is group replacement? Explain with an example. (2-3 lines)

Answered: 1 week ago