Given the information below, calculate the net cash provided from operating activities for Baskin Peter Pty. Ltd.

Receipts from customers $279,247

Payments for property, plant & equipment $42,310

Interest paid $4,231

Proceeds from issue shares $25,836
Payments to supplier and employees $220,013

Repayment of borrowings $53,331

GST paid $16,924

Payments for motor vehicle $37,985

Interest received $6,770

Select one:

$61,773

$44,849

$55,345

$49,080

Answers

Answer 1
To calculate the net cash provided from operating activities, we need to add up the cash inflows from operating activities and subtract the cash outflows from operating activities.

The cash inflows from operating activities are:

Receipts from customers: $279,247

Interest received: $6,770

Total cash inflows from operating activities: $286,017

The cash outflows from operating activities are:

Payments to suppliers and employees: $220,013

GST paid: $16,924

Total cash outflows from operating activities: $236,937

Therefore, the net cash provided from operating activities is:

Net cash provided from operating activities = Cash inflows from operating activities - Cash outflows from operating activities
Net cash provided from operating activities = $286,017 - $236,937
Net cash provided from operating activities = $49,080

Therefore, the net cash provided from operating activities for Baskin Peter Pty. Ltd. is $49,080.

So the answer is D) $49,080.

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List excel formulas for n 20--, the annual salaries paid each of the officers of Abrew, Inc., follow. The officers are paid semimonthly on the 15th and the last day of the month. Compute the FICA taxes to be withheld from each officer’s pay on (a) November 15 and (b) December 31.

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James,Sally, VP Sales 69,600

Kimmel, Joan, VP Mfg. 54,000

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Answers

To calculate FICA taxes to be withheld from each officer's pay, we need to first calculate their semi-monthly salaries and then their OASDI and HI taxable earnings.

Assuming there are 24 pay periods in a year (12 months * 2 pay periods per month).

The semi-monthly salaries for each officer are as follows:

Hanks, Timothy, President: 168,000 / 24 = $7,000

Grath, John, VP Finance: 144,000 / 24 = $6,000

James, Sally, VP Sales: 69,600 / 24 = $2,900

Kimmel, Joan, VP Mfg.: 54,000 / 24 = $2,250

Wie, Pam, VP Personnel: 51,600 / 24 = $2,150

Grant, Mary, VP Secretary: 49,200 / 24 = $2,050

To calculate OASDI taxable earnings, we need to know the wage base limit for the year. For 20--, the wage base limit is $142,800.

The OASDI taxable earnings for each officer are as follows:

Hanks, Timothy, President: Min($7,000, $142,800) = $7,000

Grath, John, VP Finance: Min($6,000, $142,800) = $6,000

James, Sally, VP Sales: Min($2,900, $142,800) = $2,900

Kimmel, Joan, VP Mfg.: Min($2,250, $142,800) = $2,250

Wie, Pam, VP Personnel: Min($2,150, $142,800) = $2,150

Grant, Mary, VP Secretary: Min($2,050, $142,800) = $2,050

To calculate HI taxable earnings, there is no wage base limit. All earnings are subject to HI tax.

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Hanks, Timothy, President: $7,000

Grath, John, VP Finance: $6,000

James, Sally, VP Sales: $2,900

Kimmel, Joan, VP Mfg.: $2,250

Wie, Pam, VP Personnel: $2,150

Grant, Mary, VP Secretary: $2,050

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Grath, John, VP Finance $372.00 $87.00 $372.00 $87.00

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Wie, Pam, VP Personnel $133.40 $31.03 $133.40 $31.03

Grant, Mary, VP Secretary $127.40 $29.68 $127.40 $29.68

Note that the OASDI tax rate is 6.2% and the HI tax rate is 1.45%, and these rates do not vary with the semi-monthly salaries of the officers.

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