- Question 14 5 Points Sadie And Otis Inc Reported A Cash Burn For The Year Of 5 760 How Many Months Would The Compa 1 (30.08 KiB) Viewed 9 times
- Question 14 5 Points Sadie And Otis Inc Reported A Cash Burn For The Year Of 5 760 How Many Months Would The Compa 2 (30.08 KiB) Viewed 9 times
- Question 14 5 Points Sadie And Otis Inc Reported A Cash Burn For The Year Of 5 760 How Many Months Would The Compa 3 (73.18 KiB) Viewed 9 times
- Question 14 5 Points Sadie And Otis Inc Reported A Cash Burn For The Year Of 5 760 How Many Months Would The Compa 4 (46.25 KiB) Viewed 9 times
- Question 14 5 Points Sadie And Otis Inc Reported A Cash Burn For The Year Of 5 760 How Many Months Would The Compa 5 (52.93 KiB) Viewed 9 times
Succulent It Up is an Etsy store specializing in selling succulents and cacti. The company's owner, Jade Vera, is preparing the bank reconciliation for the month just ended. At the beginning of the month, $1,250.00 was in the company's check register. During the month, deposits of $323.00 and withdrawals of $368.49 were recorded in the check register. In comparing her check register to the bank statement, Jade noted the following: • The ending balance reported on the bank statement was $1,306.56. . A bank service charge of $15.00 was reported on the bank statement but not yet recorded in the check register. • A check to a supplier was incorrectly recorded in the check register as $10.05. The check cleared the bank for the correct amount of $10.50. • A $132.50 deposit included in the register totals above had not cleared the bank as of the end of the month. • A $250.00 cash dividend was paid to Jade on the last day of the month. It was included in the register totals above but had not cleared the bank as of the end of the month. The company's adjusted ending cash balance for the month just ended was $1,234.55 $1,071.56 $1,204.51 $1,189.06 $1,306.56
Which of the following statements is TRUE regarding cash metric-based analysis? If a company reports positive cash flows from operating activities, it is said to have a monthly cash burn. Including cash equivalents in the calculation of the ratio of cash to monthly cash expenses typically reduces the ratio. The ratio of cash to monthly cash expenses indicates how long a company could operate on its available cash. Beyond the time period indicated by the ratio of cash to monthly cash expenses, a company would always report a net loss on its income statement. For purposes of cash metric-based analysis, the monthly cash expenses are calculated by taking total cash expenses reported on the income statement and dividing by 12.
Question 6 (5 points) The following information was prepared for The Fugees, LLC's first month of operations: January 2 Purchase 30 units at a price of $10 each January 14 Purchase 75 units at a price of $7 each January 28 Purchase 36 units at a price of $5 each Which of the following statements is incorrect given 100 units were sold during the month? Under LIFO, the reported cost of goods sold for the month was $628. 41 units remained in inventory at month end. Under FIFO, the costs assigned to used in ending inventory were $377. The COGS calculated under the weighted average method would be higher than the COGS calculated under LIFO. Given unit prices were falling during the month, COGS reported under FIFO would be higher than the COGS reported under LIFO.