how much money can i earn while reciving old age security in ontario

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Ive been stuck on this problem for a while now. if you guys could help it would be great. based on the information given for ghoulish noise, the company should report net cash flow from operations for october, 2006 of a) 119,000 b) 59,000 c) 74,000 d) 134,000 e) none of the above use the following information for questions 8 - 20: ghoulish noise provides the sound effects for halloween events. ghoulish noise commenced operations on october 1, 2005. information about ghoulish noise's balance sheet accounts at september 30, 2006 is summarized as follows: balance sheet information at september 30, 2006 cash$1,000 accounts receivable, net of $5,000 allowance for uncollectible accounts (bad debts) $49,000 prepaid insurance •for three month policy with coverage effective september 1 – november 30$1,000 computer and sound equipment, cost •acquired on october 1, 2005$36,000 accumulated amortization – computer and sound equipment$12,000 total assets$75,000 advances from customers for october 2006 events$20,000 note payable less discount •ghoulish noise issued this note to acquire the computer and sound equipment – the note, a promise to pay $43,560 on september 30, 2007, was issued on october 1, 2005 to acquire the computer and sound equipment. $39,600 share capital •sam scream acquired all the 5,000 common shares of ghoulish noise when the corporation was formed october 1, 2005$10,000 retained earnings$5,400 total liabilities and shareholder’s equity $75,000 cash receipts for october 2006 were as follows: cash collected from customers for events held before october 1, 2006$48,000 cash collected for october, 2006 performances$80,000 cash received in advance for an october, 2007 performance$15,000 cash disbursements for october 2006 were as follows: cash paid for music rights for music used at october events$2,000 transportation charges paid$4,000 wages paid$3,000 dividends declared and paid$60,000 other information: •ghoulish noise billed customers $93,000 for october performance: $113,000 for the work done, less $20,000 received in advance. •transportation costs of $3,000 are still owed at october 31, 2006 •wages of $2,500 are still owed to employees at october 31, 2006 •one account receivable for $1,500 was written-off in october •cheque #103 paying transportation costs of $4,000 did not clear the bank until november. all other cheques issued and deposits made cleared in october. •present value tables are attached at the end of this exam. the answer for this question is d in the solutions, but it doesn't explain why. i tried numerous times but i never have gotten the answer d. thanks.

its actually pretty easy but it can be very confusing. Your trying to find the net change in cash based on operating activities only. So you need to add: Cash collected from customers for events held before October 1, 2006 $48,000 Cash collected for October, 2006 performances $80,000 Cash received in advance for an October, 2007 performance $15,000 And then subtract: Cash paid for music rights for music used at October events $2,000 Transportation charges paid $4,000 Wages paid $3,000 Notice that this is left out because this is a financing activity: Dividends declared and paid $60,000 48k + 80k + 15k - 2k - 4k - 3k = $134,000.

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Ghoulish noise provides the sound effects for halloween events. ghoulish noise commenced operations on october 1, 2005. information about ghoulish noise's balance sheet accounts at september 30, 2006 is summarized as follows: balance sheet information at september 30, 2006 cash$1,000 accounts receivable, net of $5,000 allowance for uncollectible accounts (bad debts)$49,000 prepaid insurance •for three month policy with coverage effective september 1 – november 30$1,000 computer and sound equipment, cost •acquired on october 1, 2005$36,000 accumulated amortization – computer and sound equipment$12,000

its actually pretty easy but it can be very confusing. Your trying to find the net change in cash based on operating activities only. So you need to add: Cash collected from customers for events held before October 1, 2006 $48,000 Cash collected for October, 2006 performances $80,000 Cash received in advance for an October, 2007 performance $15,000 And then subtract: Cash paid for music rights for music used at October events $2,000 Transportation charges paid $4,000 Wages paid $3,000 Notice that this is left out because this is a financing activity: Dividends declared and paid $60,000 48k + 80k + 15k - 2k - 4k - 3k = $134,000. For question 9, Take the beginning balance of Accounts receivable ($49000), add the 90000 that is now in AR, subtract dividends of 60000 to get 79000

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This is a homework question, but i have no idea how to do it. (the company is fake) the following is selected information from l corporation for the fiscal year ending october 31, 2010. cash received from customers $300,000 revenue earned 370,000 cash paid for expenses 170,000 cash paid for computers on november 1, 2009 that will be used for 3 years 48,000 expenses incurred, not including any depreciation 200,000 proceeds from a bank loan, part of which was used to pay for computers 100,000 based on the accrual basis of accounting, what is l corporation's net income for the year ending october 31, 2010. -i know that the equation is total revenue-total expenses=net income. i just don't know what is what, or what to add or what to subtract. if someone could please explain how to do this question i would greatly appreciate it. for revenue i did: 300,000+370,000=670,000 & for expenses i did: 170,000+48,000+200,000+100,000= 518,000 then i subtracted: 670,000-518,000=152,000 so, net income= $152,000 is this right?

First of all, accrual accounting is the method where cash given and received doesn't matter. Expenses are recorded when they are incurred not when cash is given, so the expenses would be 200,000. The same thing goes for revenue which equals 370,000. As for the answer, i'm pretty sure the Net Income is 170,000. I'm not quite sure if i'm right about the numbers but i am sure that expenses are recorded when they are incurred and revenues are recorded when earned. Hope it helps!

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This is the balance sheets as of dec 31,06 jan 1,06 assets cash 70 23 accounts receivable 64 60 allowance for bad debts (9) (5) inventory 129 137 prepaid expenses 15 12 plant assets 400 420 accumulated depreciation (90) (105) goodwill 54 63 total assets 633 605 liabilities and stockholders’ equity accounts payable 40 33 interest payable 5 9 income tax payable 7 10 bonds payable 75 150 common stock 315 285 retained earnings 191 118 total liab’s and stockholders’ equity 633 605 income statement net sales 876,000 operating expenses: cost of sales 555,000 selling and administrative expenses 119,000 bad debt expense 6,000 depreciation 27,000 total 707,000 operating income 169,000 other revenue and expenses: interest expense 13,000 loss on bond retirement 6,000 gain on sale of equipment – 4,000 impairment of goodwill 9,000 total 24,000 income before income taxes 145,000 income taxes expense 45,000 net income 100,000 additional information: during the year, a company had two sales of equipment: it sold for $21,000 old equipment that had cost $45,000 and had $24,000 accumulated depreciation; it also sold another piece of equipment. new equipment worth $75,000 was acquired in exchange for $75,000 of bonds payable. bonds payable of $150,000 were retired for cash at a loss. all stock issuances were for cash. here is my work: cash flows from operating activities cash inflows: cash received from customers$872 cash outflows: cash paid for merchandise (540) cash paid for administrative and selling expenses (119) cash paid for interest (17) cash paid for taxes (48) prepaids (3) net cash provided by operating activities$145 cash flows from investing activities cash received from sale of capital assets (plant and equipment, etc.) $28 net cash provided by investing activities 28 cash flows from financing activities cash received from issuing stock $30 cash paid to retire long-term debt (156) net cash used in financing activities (126) net increase in cash during the period$47 cash balance, january 1 23 cash balance, december 31 $70 i also have all the t accounts and can post them if that'd be helpful. thank you!!!!!!!!

You were mostly right, but I get the following: Cash flows from operating activities Cash receipts from customers 870 Cash paid to suppliers and employees (662) Cash generated from operations 208 Interest paid (17) Income taxes paid (48) Net cash from operating activities 143 Cash flows from investing activities Proceeds from sale of equipment 57 Net cash used in investing activities 57 Cash flows from financing activities Proceeds from issue of share capital 30 Retirement of bonds (156) Dividends paid (27) Net cash used in financing activities (153) Net increase in cash and cash equivalents 47 CCE at beginning of period 23 CCE at end of period 70 You also need a note to disclose that new equipment worth $75,000 was acquired in exchange for $75,000 of bonds payable.

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Gotham company reported a december 31 ending inventory balance of $412,000. the following additional information is also available: the ending inventory balance of $412,000 included $72,000 of consigned inventory for which gotham was the consignor. the ending inventory balance of $412,000 included $22,000 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. the ending inventory balance of $412,000 did not include goods costing $48,000 that were purchased by gotham on december 28 and shipped fob destination on that date. gotham did not receive the goods until january 2 of the following year. the ending inventory balance of $412,000 included damaged goods at their original cost of $38,000. the net realizable value of the damaged goods was $10,000. the ending inventory balance of $412,000 included $43,000 of consigned inventory for which gotham was the consignee. based on this information, the correct balance for ending inventory on december 31 is: answer $247,000 $341,000 $362,000 $319,000

412000-72000-22000-(38000-10000) -28000-43000=247000 the goods worth of 48000 in transit need not be included until they are physically reached the stores. This is my answer. please checkup with your teacher.

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Ok, so this has been floating around the net, and it is 100% legit. just gives us an indication as to how much these guys are on. for wrestling fans like myself, you will find it interesting. for people who arent bothered by wrestling still might find it interesting. and for those people who take the piss out of it and make fun of it calling it fake etc etc, i say this, i bet some of those figures are more than youll earn in a lifetime! below is the world wrestling entertainment talent roster payroll that was taken from october of 2004 until february of 2006. the shown dollar amount beside each wrestler is the grand total that they earned from world wrestling entertainment in a one year period (downside guarantees, bonuses, and merchandise shares). some wrestler's were given special privileges and bonuses in their contracts which can also be seen beside their total pay. all wrestler's contracts begin and end at different months of the year, there for each shown amount is what that particular wrestler earned in a 365 day time period between october 2004 and february 2006 (or however long they have been with the company). all dollar amounts were rounded up/down (example: $244,766 would be $245,000) - ashley massaro: $131,000 - batista: $813,000 (first class flight tickets paid for every week) - big show: $1,000,000 (base salary) - bob holly: $217,000 - booker t: $375,000 - candice michelle: $64,000 - carlito: $319,000 - chavo guerrero: $206,000 - chris benoit: $488,000 (first class flight tickets paid for every week) - chris masters: $253,000 - christian - $396,000 - danny basham: $130,000 - doug basham: $126,000 - eddie guerrero: $372,000 - edge: $704,000 - eugene: $189,000 - funaki: $124,000 - gene snitsky: $292,000 - gregory helms: $277,000 - john cena: $1,743,000 (first class flight tickets, hotel accommodations, and ground transportation paid for every week) - john layfield: $786,000 (five star hotel accommodations paid for every week) - jerry lawler: $204,000 (first class flight tickets, hotel accommodations, and ground transportation paid for every week) - jillian hall: $52,000 - joey mercury: $134,000 - johnny nitro: $143,000 - jonathan coachman: $175,000 - kane: $ 851,000 (first class flight tickets paid for every week) - ken kennedy: $133,000 - kid kash: $62,000 - kurt angle: $1,023,000 (first class flight tickets paid for every week) - lance cade: $118,000 - lilian garcia: $90,000 - lita: $286,000 (mostly downside paid due to lack of wrestling) - maria: $41,000 - mark henry: $300,000 (base pay) - matt hardy: $322,000 (missed over $70,000 of pay due to firing) - matt striker: $43,000 - melina: $155,000 - mickie james: $72,000 - nunzio: $186,000 - orlando jordan: $145,000 - paul london: $177,000 - psicosis: $122,000 - randy orton: $711,000 (first class flight tickets paid for every week) - rene dupree: $289,000 - rey mysterio: $414,000 - ric flair: $508,000 (first class flight tickets paid for every week) - rob conway: $186,000 - rob van dam: $220,000 (only received downside and royalties due to injury) - rosey: $105,000 - shawn michaels: $1,045,000 (first class flight tickets, hotel accommodations, and ground transportation paid for every week) - shelton benjamin: $366,000 - simon dean: $132,000 - stacy keibler: $178,000 (only downside paid during absence) - steven richards: $94,000 - torrie wilson: $260,000 - trevor murdoch: $48,000 - triple h: $2,013,000 (allowed the personal use of company jet (10) times per year. first class flight tickets, hotel accommodations, and ground transportation paid for every week) - trish stratus: $618,000 (receives 20% of all trish stratus merchandise sold) - tyson tomko: $127,000 - undertaker: $1,811,000 (first class flight tickets, hotel accommodations, and ground transportation paid for every week) - val venis: $210,000 - victoria: $275,000 - viscera: $130,000 - william regal: $225,000 omg ive met a millionaire

intretsting

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5. barker, inc. receives subscription payments for annual (one year) subscriptions to its magazine. payments are recorded as revenue when received. amounts received but unearned at the end of each of the last three years are shown below: 2005 unearned revenues $120,000 2006 unearned revenues $150,000 2007 unearned revenues $176,000 barker failed to record the unearned revenues in each of the three years. as a result of the omission, 2007 income was a. overstated by $146,000 b. understated by $146,000 c. understated by $26,000 d. overstated by $26,000 6. selected information for henry company is as follows: december 31 2006 common stock $600,000 additional paid-in capital 250,000 retained earnings 170,000 net income for year 120,000 2007 common stock $600,000 additional paid-in capital 250,000 retained earnings 370,000 net income for year 240,000 henry return on common stockholder's equity, rounded to the nearest percentage point, for 2007 is a. 20% b. 21% c. 28% d. 40% 8. koppell co. made the following eroors in counting its year-end physical inventories: 2000 $60,000 overstatement 2001 $108,000 understatement 2002 90,000 overstatement the entry to correct the accounts at the end of 2002 is a. retained earnings 48,000 cost of goods sold 42,000 inventory 90,000 b. retained earnings 18,000 cost of goods sold 72,000 inventory 90,000 c. inventory 90,000 cost of goods sold 18,000 retained earnings 72,000 d. cost of goods sold 198,000 retained earnings 108,000 inventory 90,000 help is appreciated thanks!

I know that #5 is C, I will look for others.

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Sam’s appliance has just completed the first year of operation for his business and has the following information: sales, $200,000; cost of goods sold, $140,000; rent, $18,000; utilities, $8,400; insurance, $2,000; depreciation on equipment, $3,500; and interest, $10,000. your forecast indicates that your sales will increase by 20%. your rental agreement provides for a 3 increase percent per year. sam has just read an article indicating that utility costs in his area will increase by 10% next year. also, sam just received a notice from his insurance company stating that his quarterly premium will increase to $600 beginning the first quarter of next year. the depreciation expense on the equipment will not change; however, sam’s loan amortization schedule indicates that interest expense next year will be $9,000. i calculated net profit to be $48,000 in current year and $65,320 for the projected next year. 1. by what percentage did sam’s net income change? i calculated the percentage of change to be 36.0835%. is this correct? 2. what is the current profit margin and the pro forma profit margin? thanks!

Current year's Net Profit: sales $200,000 - cost of goods sold $140,000 = Gross profit $60,000 - rent $18,000 - utilities $8,400 - insurance $2,000 - depreciation on equipment $3,500 - interest $10,000 = Net profit $18,100 (profit margin 9.05%) Next year's Net Profit: sales $240,000 (increase by 20%) - cost of goods sold $168,000 (assume also increase by 20%*) = Gross profit $72,000 - rent $18,540 (3 % increase) - utilities $9,240 (10% increase) - insurance $2,400 ($600 per quarter) - depreciation on equipment $3,500 (no change) - interest $9,000 = Net profit $29,320 (profit margin 12.22%) Net profit will increase from $18,100 to $29,320, an increase of $11,220 or 61.99% *in the absence of info, I've assumed that COGS increased in the same percentage as sales

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I have received the below forwarded e-mail stating that, i am the winner of yahoo-microsoft lottery. they are asking me to pay the cost of transfer amount i.e. gbp 1500=00 in advance, so that they can transfer my winning amount to my local operative bank a/c. therefore, i request you to help me whether it is a genuine or fake. thanks & regards, prithviraj mysala, =================================== ========== from: yahoo.web23@comcast.net subject: thanks for contributing to our financial success!!!(you have been granted £1,000,000 gbp) date: thu, 27 mar 2008 23:57:48 +0000 yahoo!-microsoft financial promotions department uk. ref:micro-yahoo7/315116127/27 batch no:15/623/uk. registered lottery no: 220949. we hereby announce the official notification of the results of the yahoo!-microsoft financial promotions held this month in which your e-mail address emerged winner.your e-mail address attached to ticket number 883734657492-5319 with serial number 7263-267, batch number

This happens to everyone! Some people get bit! It is an absolute scam. Completely ignore it. Please. You will get many scams each year, and all come claiming to be part of well known outfits like Yahoo, Microsoft, and so on. They are mostly called "phishing" scams. They are fishing for whatever information and money they can get out of you. That means they are after, not just your money (GBP 1500), but also - as in this case - your bank account number. How else can they transfer money to your local operative bank account without the account number, eh? Believe me, give them banking information, and you will never again feel that your bank account is safe. And, sooner or later, the scammers will try to get the money out of it. Believe me, give them the money they want, and you will never see that GBP 1000000 they say that you won. You will just be out the GBP 1500. Not to mention the above para. Believe me, give them the information and money that they ask for, and they will try to get more information and money out of you. Give them enough information, especially the personally-identifiable kind, and they will steal your online, as well as, real life identity from you. They will use the information you give them against you. So, in answer to your question, it is not a genuine lottery that you have won. There is, in fact, no such lottery. So, yes, it is a fake. The announcement, which I have read along with your question, sounds very official and all - but, that is what the scammers want to present to you - the appearance of something legitimate. That is how they hook you. Please, ignore it. Don't go for the bait! If you want some real good info about all kinds of phishing scams, just type "phishing scams" into your Google or Yahoo search box. Then click "Go" for Google or "Web Search" for Yahoo. Both will take you to a webpage filled with this kind of info. And, each webpage has about ten related links to it. Best wishes