Reflects income and expenses in accordance with gaap

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Reference no: EM131820189

1. Alaris Spaceships has cash of $2,700 and accounts receivable of $3,300. The inventory cost $6,100 and can be sold today for $9,600. The fixed assets were purchased at a cost of $49,300 of which $23,500 has been depreciated. The fixed assets can be sold today for $23,000. What is the total book value of the assets of Alaris?

2. Malikei, Inc. has a marginal tax rate of 33 percent and an average tax rate of 27.3 percent. If the firm earns $83,300 in taxable income, how much will it owe in taxes?

3. A(n) _______ in net working capital for the period is a cash inflow for the firm.

4. Cash flow to creditors is equal to ______ minus _______ long-term debt _______ ___________ long-term debt.

5. When net new borrowings are subtracted from the ____________ payments a firm pays to its creditors the result is called the _______________ .

6. Cash flow to creditors is equal to interest paid minus ending long-term debt minus beginning long-term debt. (T/F)

7. The income statement reflects income and expenses in accordance with GAAP. (T/F)

Reference no: EM131820189

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