What amount would be reported in the statement

Assignment Help Accounting Basics
Reference no: EM133167271

Question - Ludwig Company's prepaid rent was $10,000 at December 31, 2020, and $13,000 at December 31, 2021. Ludwig reported rent expense of $20,500 on the 2021 income statement. What amount would be reported in the statement of cash flows as rent paid using the direct method?

Reference no: EM133167271

Questions Cloud

What are the operating cash flows in each year : The grill will have no effect on revenues but will save Johnny's $23,500 in energy expenses. The tax rate is 30%. What are the operating cash flows in each year
What was the issue price on january of this year : On January 1 of this year, Nowell Company issued bonds with a face value of $250,000. What was the issue price on January 1 of this year
Explain cross-functional team : You are a group of managers in charge of food services for a large state university in the Midwest. Recently, a survey of students, faculty, and staff was condu
What is ideal role in a team meeting : 1. Who pioneered the forming, storming, norming, and performing model?
What amount would be reported in the statement : Ludwig reported rent expense of $20,500 on the 2021 income statement. What amount would be reported in the statement of cash flows
What is kellogg total market capitalization : On that same date, the company had 420,666,780 shares issued, of which 76,801,314 shares were in treasury. What is Kellogg total market capitalization
What was the ending cash balance : A firm reported ($ in millions) net cash inflows (outflows) as follows: operating $65, Investing ($206), What was the ending cash balance
Discuss measures that may be used to assess the quality : A firm's accounting earnings and its true economic income is the quality of earnings assessment. Discuss measures that may be used to assess the quality
Ensuring the prevention of problem gamblers : With the future of Gambling going online. How will Casino that utilizes an online and virtual platform ensure they are following and ensuring the prevention of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Paul bunyon lumber co produces several products that can be

paul bunyon lumber co. produces several products that can be sold at the split-off point or processed further and then

  Compute the amount of liability for compensated absences

Compute the amount of liability for compensated absences that ABC Company shall recognize on December 31, 2X16

  At the beginning of 2011 robotics inc acquired a

at the beginning of 2011 robotics inc. acquired a manufacturing facility for 12.7 million. 9.7 million of the purchase

  Will the company need any outside capital

John has a "TOTAL ASSETS" of $36,200 and "TOTAL LIABILITIES & EQUITY" of $36,200. Will the company need any outside capital

  Prepare the journal entry to record the reimbursement

Petty Cash The petty cash fund of Teasdale's Auto Repair Service, a sole proprietorship, contains the following. The general ledger account Petty Cash has a balance of $300.

  Problem - Stock Transactions for Corporate Expansion

Stock Transactions for Corporate Expansion - Common Stock, $100 par (800,000 shares authorized, 250,000 shares issued) 25,000,000

  How do i do the market-related asset value to compute

how do i do the market-related asset value to compute theexpected return and for the corridor amoritization. i wasable

  Isner company wrote off the following accounts receivable

How much higher (lower) would Isner Company's 2010 net income have been under the direct write-off method than under the allowance method?

  What will be Blue depreciation expense

Blue decided to change to the sum-of-the-years'-digits method. Ignoring income taxes, what will be Blue's depreciation expense for 2020

  Prepare statement of changes in equity for the year

Prepare the statement of profit or loss for the year ended 30 June 2020. Retained earnings 1 July 2019 $180 000

  Solve the standard cost per unit for abc company

Calculate the standard cost per unit for ABC Company. ABC Company's budgeted sales for June, July, and August are 12,200, 16,200.

  Prepare separate journal entry to record cost of goods sold

Instructions - Prepare a separate journal entry to record the cost of goods sold relating to the January 27 sale of 800 widgets

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd