The following information was obtained from Galena Company’s comparative balance sheets. Assume that Galena Company’s 2016 income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and net income of $45,000. Calculate the net cash flow from operating activities using the indirect method.

Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,000 $9,000
Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $44,000 $35,000
Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $55,000 $49,000
Prepaid rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,000 $8,000
Long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 $34,000
Plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150,000 $106,000
Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000 $32,000
Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,000 $20,000
Income tax payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000 $6,000
Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $121,000 $92,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $106,000 $91,000

The following information was obtained from Galena Company’s comparative balance sheets. Assume that Galena Company’s 2016 income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and net income of $45,000. Calculate the net cash flow from operating activities using the indirect method.

Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,000 $9,000

Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $44,000 $35,000

Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $55,000 $49,000

Prepaid rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,000 $8,000

Long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 $34,000

Plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150,000 $106,000

Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000 $32,000

Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,000 $20,000

Income tax payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000 $6,000

Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $121,000 $92,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $106,000 $91,000The following information was obtained from Galena Company’s comparative balance sheets. Assume that Galena Company’s 2016 income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and net income of $45,000. Calculate the net cash flow from operating activities using the indirect method.

Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,000 $9,000

Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $44,000 $35,000

Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $55,000 $49,000

Prepaid rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,000 $8,000

Long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 $34,000

Plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150,000 $106,000

Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000 $32,000

Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,000 $20,000

Income tax payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000 $6,000

Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $121,000 $92,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $106,000 $91,000The following information was obtained from Galena Company’s comparative balance sheets. Assume that Galena Company’s 2016 income statement showed depreciation expense of $8,000, a gain on sale of investments of $9,000, and net income of $45,000. Calculate the net cash flow from operating activities using the indirect method.

Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $19,000 $9,000

Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $44,000 $35,000

Inventory. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $55,000 $49,000

Prepaid rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6,000 $8,000

Long-term investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $21,000 $34,000

Plant assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $150,000 $106,000

Accumulated depreciation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $40,000 $32,000

Accounts payable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,000 $20,000

Income tax payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $4,000 $6,000

Common stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $121,000 $92,000

Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $106,000 $91,000

please mark me as brainliest........,.....

From the following situation operating activity has been calculated as follows:

                      Cash Flow Statement from Indirect Method

Particular                                                                                       Amount

Net profit before tax                                                                          $45,000

Items to be added:

Depreciation                                                      $8000                                                                                                                          

Increase in provision for doubtful debts           $8000                    $16,000                                        

Items to be deducted:

Gain on sale of investment                            $ (9000)                     $(9,000)                                                                                              

Profit from Operating activity                                                          $52,000

Operating activities are all the things a company does to bring its products and services to market on an ongoing basis.

Non-operating activities are one-time events that may affect revenues, expenses or cash flow but fall outside of the company's routine, core business.

So, from the above solution answer of the operating activity is $52,000.

Learn more about operating activity, refer to:

https://brainly.com/question/14122060

Which of the following is NOT an example of piggybacking?
Tea and coffee
Cereal and milk
DVD and a DVD player
Razor and razor blades

lorelei's trust fund will pay her $10,000 a year for the next 30 years. The current value of these payments is called the: g

2. Extension Tax revenue helps governments provide citizens with goods and services. What kind of taxes do you pay to get these services?

The buyer and seller of merchandise must agree on who is responsible for paying freight terms. Show your understanding of freight terms by selecting all of the correct statements below.

a. Terms FOB shipping point means the buyer accepts ownership when the goods depart the seller's place of business.
b. When the shipping costs are the responsibility of the buyer, then the Merchandise Inventory account is debited for the freight charges.
c. Revenue for the sale will be recorded after the goods reach their destination, if the goods are shipped FOB destination.
d. Terms FOB destination means that the seller is responsible for shipping costs.
d. When the shipping costs are the responsibility of the seller, then the Merchandise Inventory account is debited. Terms FOB shipping point means the seller of the goods is responsible for freight charges.

Suppose a State of New York bond will pay $1,000 ten years from now. If the going interest rate on these 10-year bonds is 4.4%, how much is the bond worth today?

Christina, who is single, purchased 140 shares of Apple Incorporated stock several years ago for $8,400. During her year-
end tax planning, she decided to sell 70 shares of Apple for $3,850 on December 30. However, two weeks later, Apple
introduced its latest iPhone, and she decided that she should buy the 70 shares (cost of $3.990) of Apple back before
prices skyrocket (Leave no answers blank. Enter zero if applicable.)
. What is Christina's deductible loss on the sale of 70 shares? What is her basis in the 70 new shares?

Advertising for hospitals has grown significantly in recent years, a practice which has generated criticism from many constituencies inside and outside their institutions. What arguments would you employ to defend advertising by hospitals

Trapp Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in its Painting Department consisted of 3,000 units that were 70% complete with respect to materials and 60% complete with respect to conversion costs. The cost of the beginning work in process inventory in the department was recorded as $10,000. During the period, 9,000 units were completed and transferred on to the next department. The costs per equivalent unit for the period were $2.00 for material and $3.00 for conversion costs. What was the cost of units transferred out during the month?
A. $45,000
B. $45,400
C. $35,400
D. $39,600

When do you think home prices peaked? Why?

Ronnie's Custom Cars purchased some fixed assets two years ago for $39,000. The assets are classified as 5-year property for MACRS. Ronnie is considering selling these assets now so he can buy some newer fixed assets which utilize the latest in technology. Ronnie has been offered $19,000 for his old assets. What is the after-tax salvage value if the tax rate is 34%

"William County opted to account for its duplication service center in an internal service fund. Previously the center had been accounted for in the county's general fund. During the first month in which it was accounted for as an internal service fund the center engaged in the following transactions: Five copiers were transferred to the internal service fund from the government's general capital assets. At the time of transfer the copiers had a book value (net of accumulated depreciation) of $70,000. The general fund made an initial cash contribution of $35,000 to the internal service fund. The center borrowed $270,000 from a local bank to finance the purchase of additional equipment and renovation of its facilities. It issued a three‐year note. It purchased equipment for $160,000 and paid contractors $100,000 for improvements to its facilities. It billed the county clerk's office $5,000 for printing services, of which the office remitted $2,500. It incurred, and paid in cash, various operating expenses of $9,000. The fund recognized depreciation of $1,500 on its equipment and $900 on the improvements to its facilities. Prepare journal entries in the internal service fund to record the transactions. Comment on the main differences resulting from the shift from the general fund to an internal service fund in how the center's assets and liabilities would be accounted for and reported."

Clem is married and is a skilled carpenter. Clem's wife, Wanda, works part-time as a substitute grade school teacher. Determine the amount of Clem's expenses that are deductible for AGI this year (if any) under the following independent circumstances: (Leave no answer blank. Enter zero if applicable.) a. Clem is self-employed and this year he incurred $810 in expenses for tools and supplies related to his job. In addition, since neither Clem nor his wife were covered by a qualified health plan through his wife's job, Clem paid health insurance premiums of $5,100 to provide coverage for himself (not through an exchange).

Many transportation systems charge higher fares during rush hours than during the rest of the day. Why?

This expansion to Bruges of course will require that we learn the Dutch and French languages.

The following is the income statement for the period ending December 31, Year 1, for Manatee Construction Company:

Manatee Construction Company Income Statement

Sales $8,000,000
Cost of goods sold (6,500,000)
Gross profit 1,500,000
Salaries expense (300,000)
Other administrative expenses (100,000)
Interest expense (900,000)
Advertising expense (450,000)
Total expenses (1,750,000)
Operating loss (250,000)
Gain from the sale of investments 100,000
Total net loss $(150,000)

Based on this information, perform the adjusting journal entry to close Manatee’s books at the end of Year 1. To prepare each required journal entry: Enter the corresponding debit or credit amount in the associated column. Round all amounts to the nearest whole number.

Account Name Debit Credit

1. Sales
2. Cost of goods sold
3. Salaries expense
4. Other administrative expenses
5. Interest expense
6. Advertising expense
7. Gain from the sale of investments
8. Retained earnings

Carey Company had sales in 2019 of $1,703,700 on 63,100 units. Variable costs totaled $883,400, and fixed costs totaled $549,000. A new raw material is available that will decrease the variable costs per unit by 20% (or $2.80). However, to process the new raw material, fixed operating costs will increase by $90,000. Management feels that one-half of the decline in the variable costs per unit should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold.

Required:
a. Prepare a projected CVP income statement for 2020, assuming the changes have not been made.
b. Prepare a projected CVP income statement for 2020, assuming that changes are made as described.

oss Music Inc. reported the following selected information at March 31. 2022 Total current assets $262,787 Total assets 439,832 Total current liabilities 293,625 Total liabilities 376,002 Net cash provided by operating activities 62,300 Calculate the current ratio, the debt to assets ratio, and free cash flow for March 31, 2022. The company paid dividends of $12,000 and spent $24,787 on capital expenditures. (Round current ratio and debt to assets ratio to 2 decimal places, e.g. 15.25. If answer is negative enter it with a negative sign preceding the number e.g. -15,000 or in parentheses e.g. (15,000).) Current ratio enter a current ratio rounded to 2 decimal places :1 Debt to assets enter debt to assets ratio in percentages rounded to 2 decimal places % Free cash flow $enter the free cash flow in dollars

Find alternatives or options for offshore drilling in the Arctic?

Willie Cheetum is the CEO of Happy Foods, a distributor of produce to grocery store chains throughout the Midwest. At the end of the year, the company's accounting manager provides Willie with the following information, before any adjustment. Willie's compensation contract states that if the company generates operating income of at least $200,000, he will get a salary bonus early next year. Required: 1. Record the adjustment for uncollectible accounts using the accountant's estimate of 10% of accounts receivable. 2. After the adjustment is recorded in Requirement 1, what is the revised amount of operating income? Will Willie get his salary bonus? 3. Willie instructs the accountant to record the adjustment for uncollectible accounts using 7% rather than 10% of accounts receivable. Now will Willie get his salary bonus? Explain. 4. By how much would total assets and operating income be misstated using the 7% amount?

Use the drop-down menus to explain how to save a presentation to a CD.

1. Save a backup copy of the original file.

2. Go into the Backstage view using the
✔ File
tab, and select
✔ Export
.

3. Click Package Presentation for CD.

4. Add a
✔ name
for the CD, and select any desired options for modification.

5. If you want to check the file before saving it to a CD, click
✔ Copy to Folder
first.

6. Then, return to the Package for CD dialog box to select Copy to CD.

What does the ratification of an agency relationship include ?

If Sasha works for 6 hours she can rent
out 9 apartments, and if she works for 7
hours she can rent out 12 apartments.
The marginal benefit of Sasha's 7th hour
of work equals

TRUE OR FALSE ACCOUNTING
1. When using the LIFO inventory costing method, the most recent costs are assigned to the cost of goods sold.
2. Specific identification should be used when building custom race cars.
3. The amounts debited to the inventory account depend on the inventory costing method used.
4. Companies use the LIFO inventory method to reduce income taxes.
5. During periods of increasing costs, the use of LIFO, rather than FIFO, will result in a greater amount of COGS being reported.
6. GAAP requires companies with receivables to use the allowance method.
7. When the allowance method for bad debts is used, net income is not reduced when a specific customer’s receivable is written off.
8. Having the oil changed in a company truck should be capitalized.
9. Replacing an engine in a plane would be a capital expenditure.
10. A tangible asset has a physical existence.

If a company spends $14.4 million to install refurbished footwear-making equipment with capacity to produce 1 million pairs of athletic footwear at its North American production facility, then its annual depreciation costs at that facility will rise by

During the off-season when crops cannot be grown, farmers will do which of the following?

A: Continue working and preparing equipment
B: Take a break, as they are unable to vacation during summer
C: Take on another job or profession until spring.

Velshi Printers has contracts to complete weekly supplements required by forty-six customers. For the year 2018, manufacturing overhead cost estimates total $600,000 for an annual production capacity of 12 million pages. For 2018 Velshi Printers has decided to evaluate the use of additional cost pools. After analyzing manufacturing overhead costs, it was determined that number of design changes, setups, and inspections are the primary manufacturing overhead cost drivers. The following information was gathered during the analysis: Cost pool Manufacturing overhead costs Activity level Design changes $120,000 500 design changes Setups 380,000 4,000 setups Inspections 100,000 9,000 inspections Total manufacturing overhead costs $600,000 During 2018, two customers, Money Managers and Hospital Systems, are expected to use the following printing services: Activity Money Managers Hospital Systems Pages 70,000 86,000 Design changes 12 0 Setups 17 7 Inspections 26 34 Using pages printed as the only overhead cost driver, what is the manufacturing overhead cost estimate for Money Managers during 2018?

4. You have saved $8,000 to buy a snowmobile and can budget $2000 every six months to repay a loan. If you use your $8,000 savings for a down payment and get a 5 year loan at 6% APR (compounded semi-annually) with $2000 payments every six months, how much can you pay for the snowmobile

The Mass Rapid Transit (MRT) System in Hong Kong has been running significant losses. Transport Ministry officials have argued over whether to raise fares to combat the losses. One argument against a fare increase is that it will aggravate traffic congestion on the streets during peak commuter hours. Suppose that the current fare is $4 and the government is considering raising it to S6. Officials estimate that this reduces the number of rides purchased from 10,000 to 8,000 per day
a) What is the estimated elasticity of demand for MRT rides using the midpoint/ARC method?
b) What does this elasticity of demand suggest to you about what will happen to total revenue earned by the transit system? Explain and show your work.

Please answer
Amira budgeted $400 for her expenses this week. She spent $350. What is TRUE about Amira's budget and spending?

A.Amira owes interest on her $50 variance.

B.Amira should take out a loan.

C.Amira has a deficit of $50 this week.

D.Amira has a surplus of $50 this week

The following summary transactions occurred during 2018 for Bluebonnet Bakers: Cash Received from: Customers $ 380,000 Interest on note receivable 6,000 Principal on note receivable 50,000 Sale of investments 30,000 Proceeds from note payable 100,000 Cash Paid for: Purchase of inventory 160,000 Interest on note payable 5,000 Purchase of equipment 85,000 Salaries to employees 90,000 Principal on note payable 25,000 Payment of dividends to shareholders 20,000 The balance of cash and cash equivalents at the beginning of 2018 was $17,000.

Required:
Prepare a statement of cash flows for 2018 for Bluebonnet Bakers. Use the direct method for reporting operating activities.