The following selected account balances appeared on the financial statements of Washington Company: Accounts Receivable, January 1 $16,099
Accounts Receivable, December 31 7,237
Accounts Payable, January 1 5,873
Accounts Payable, December 31 8,939
Merchandise Inventory, January 1 6,941
Merchandise Inventory, December 31 14,492
Sales 76,821
Cost of Merchandise Sold 36,852

Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers were:

Landon mars, the company bookkeeper, recorded the $10,000 purchase of land as rent expense by decreasing cash and decreasing shareholders' equity. what is the effect of this error on the accounting equation

The following extract was taken from the worksheet of special events bakers for the year 2019. special events bakers worksheet december 31, 2019 account names cash equipment accumulated depreciation minus− equipment unadjusted trial balance debit credit $ 6 comma 800$6,800 15 comma 20015,200 $ 8 comma 500$8,500 adjusted trial balance debit credit $ 6 comma 800$6,800 15 comma 20015,200 $ 10 comma 000$10,000 for the above information, determine the amount of depreciation expense for the equipment used in the business

An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value