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Springsteen Co. had the following activity in its most recent years of operations.
Items
a. Pension expense exceeds amount funded.b. Redemption of bonds payable.c. Sale of building at book value.d. Depreciation.e. Exchange of equipment for furniture.f. Issuance of capital stock.g. Amortization of intangible assets.h. Purchase of treasuryt stock.i. Issuance of bonds for land.k. Increase in interest receivable on notes receivable.l. Purchase of equipment.
Classify the items as (1) operating - add to net income; (2) operating - deduct from net income; (3) investing; (4) financing; or (5) significant noncash investing and financing activities. Use the indirect method.
Top Sail Company produces one type of machine with the following costs and revenues for year. Total Revenues: 5,600,000 What is the selling price per unit What is the variable cost per unit What is the contribution margin What is the break-even point..
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On June 1, 2012, Josh purchased a used automobile that cost $24,000. The car is used 60% for business and 40% for personal use. (Assume this percentage is maintained for the life of the car.) Determine the cost recovery deduction for 2013.
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five years ago heinz purchased a 1200000 term life insurance policy from west coast life insurance payable to his wife
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Prepare the cash flows from operating activities section using the direct method.
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