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The
Boston
Food Bank is a nonprofit organization that receives donations of food and distributes this food to appropriate charitable organizations. He used this wait time data and the following assumptions to determine the financial benefit of buying a second​ shrink-wrap machine.
Additional Info
Many​ times, large quantities of food need to be​ shrink-wrapped to secure the items for shipping to the charitable organizations. The VP of Operations at the
Boston
Food Bank recently performed a time study of the time that its warehouse personnel spend waiting for the​ shrink-wrap machine to become available
Assumptions


Requirement 1. What is the expected net cash inflow per year from purchasing a second​ shrink-wrap machine​ (i.e., how much cost could be saved each year by eliminating the wait​ time)?
Requirement 2. What is the payback period of the second​ shrink-wrap machine? Round your answer to two decimal places.
Requirement 3. What would the expected net cash inflow per year be if the hourly wage rate used for this analysis was increased by
20 %
to reflect the cost of employee​ benefits?
Requirement 4. What is the payback period of the second​ shrink-wrap machine when the increased wage rate is used to calculate the expected net cash inflow per​ year? Round your answer to two decimal places
Requirement 5. Did the payback period using the increased hourly wage rate increase or decrease as compared to the original payback period using the hourly rate without any benefits​ included? Explain




Requirement 13500ExplanationStep 1: Calculate the total wait time per year (in hours)Average wait time per picker per day: 60 minutes = 1 hourNumber of pickers: 15Days worked per year: (5 days/week) × (52 weeks - 2 weeks for holidays) = 250 daysTotal wait time per year=1 hour/day...

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Posted by Cleveland on September 5, 2024
Prepare a statement of cash flows using the indirect method. The income statement for
2023
and the balance sheets for
2023
and
2022
are presented for
Hoover
​Industries, Inc.
View the income statement.                                                                               View the balance sheets.
View the additional information.
Requirement
Prepare a statement of cash flows for
Hoover
​Industries, Inc., for the year ended December​ 31,
2023​,
using the indirect method.







Prepare the statement one section at a time. ​(Use parentheses or a minus sign for numbers to be subtracted and for net cash​ outflows.)Part 2Part 3Part 4 Hoover Industries, Inc. Statement of Cash Flows (Indirect Method) For the Year Ended December 31, 2023 Operating Activit...

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Posted by Cleveland on September 5, 2024
The
2023
and
2022
balance sheets of
Wallace
Corporation follow. The
2023
income statement is also provided.
Wallace
had no noncash investing and financing transactions during
2023.
During the​ year, the company sold equipment for
$ 15 comma 800​,
which had originally cost
$ 12 comma 700
and had a book value of
$ 11 comma 800.
The company did not issue any notes payable during the year but did issue common stock for
$ 31 comma 000.
The company purchased plant assets and​ long-term investments with cash.





Requirement 1. Prepare the statement of cash flows for WallaceWallace Corporation for 20232023 using the indirect method.Prepare the statement one section at a time. ​(Use parentheses or a minus sign for numbers to be subtracted or for a net cash​ outflow.)Part 2Part 3Part 4 Wallace Corpor...

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Posted by Cleveland on September 5, 2024
The comparative balance sheet for
Seaway
Travel​ Services, Inc., for December​ 31,
2023
and
2022​,
is as​ follows:
View the comparative balance sheet.                           
The following information is taken from the records of
Seaway
Travel​ Services, Inc.:
View the transaction data.
Seaway
Travel​ Services, Inc., uses the indirect method for preparing the statement of cash flows. Prepare the operating section of the statement of cash flows for
2023.
​(Use parentheses or a minus sign for numbers to be subtracted or net cash​ outflow.)
Seaway Travel Services, Inc.
Comparative Balance Sheets
December 31, 2023 and 2022
Assets
2023
2022
Current assets:
 
 
Cash
$45,000
$12,000
Accounts receivable
75,000
81,000
Inventory
59,000
19,000
Prepaid insurance
14,000
17,000
Total current assets
$193,000
$129,000
 
 
 
Land
$101,000
$117,000
Equipment
76,000
56,000
Less: Accumulated depreciation
(19,000)
(14,000)
Total assets
$351,000
$288,000
 
 
 
Liabilities
 
 
Current liabilities:
 
 
Accounts payable
$25,000
$32,000
Wages payable
32,000
21,000
Interest payable
14,000
12,000
Income taxes payable
12,000
10,000
Total current liabilities
$83,000
$75,000
 
 
 
Notes payable (long-term)
98,000
88,000
Total liabilities
$181,000
$163,000
 
 
 
Stockholders' equity
 
 
Common stock
$125,000
$115,000
Retained earnings
45,000
10,000
Total stockholders' equity
$170,000
$125,000
 
 
Total liabilities and equity
$351,000
$288,000
pop-up content ends

 Seaway Travel Services, Inc. Statement of Cash Flows—Operating Activities Section (Indirect Method) For the Year Ended December 31, 2023 Operating Activities:   Net income $40,000 Adjustments to reconcile net income to cash basis:   Deprec...

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Posted by Cleveland on September 5, 2024
What was the significant verdict reached by the 1803 U.S. Supreme Court in Marbury v. Madison?  In other words, what was the key takeaway from this court case?
Group of answer choices

The U.S. Supreme Court is responsible for interpreting the constitutionality of laws....

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Posted by Cleveland on September 4, 2024
 Is it possible for Congress to override a veto by the President?
Group of answer choices

Yes, as long as both the Senate and House of Representatives vote by 2/3 majority to override the veto....

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Posted by Cleveland on September 4, 2024
 How many senators are in the U.S. Senate?
Group of answer choices

100 (based on 2 Senators per state)....

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Posted by Cleveland on September 4, 2024

ow long is the term in office for a member of the House of Representatives?

Group of answer choices

One year.

Two years.

Four years.

Six years.

Lifetime.

Two years....

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Posted by Cleveland on September 4, 2024
As seen in the video about the John Roberts Supreme Court Nomination Hearings, Justice Roberts refers to the courts as “passive institutions.” What does he mean by that?
Group of answer choices

All of the above....

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Posted by Cleveland on September 4, 2024
As seen in the video about the John Roberts Supreme Court Nomination Hearings, what does Justice Roberts believe is the role of the judiciary (judicial branch) within the American governmental system?
Group of answer choices

To decide specific cases brought before the courts according to the rule of law....

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Posted by Cleveland on September 4, 2024