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1. The net income for Letterman Company for 2010 was $320,000. During 2010, depreciation on plant assets was $124,000, amortization of patent was $40,000, and the company incurred a loss on sale of plant assets of $21,000. Compute net cash flow from operating activities.
determining cash payments to stockholders the board of directors declared cash dividends totaling 260000 during the
In Henderson Company, 50,000 units are produced and 40,000 units are sold. Variable manufacturing costs per unit are $6 and fixed manufacturing costs are $120,000. the cost of the ending finished goods inventory under each costing approach is:
a five-year project has an initial fixed asset invstment of 270000 an initial nwc investment of 25000 and an annual ocf
A hospital orders its blood from a regional blood bank. Each year, the hospital uses an average of 1040 pints of type O blood. Each order placed with the regional blood bank incurs a cost of $250.
A fast-food restaurant uses a standard cost approach to aid in controlling its food cost. The following are the standard cost, sales prices, and quantities sold of each of the five items featured on the menu during a particular week:
Presented below are unrelated cases involving investments in equity securities. Indicate the accounting required for each case separately.
develop a plan for the distribution of salary increases. suppose you are employed in a local industry and your
when enron with 62 billion in assets declared bankruptcy in december 2001 it was the largest bankruptcy in u.s.
Describe the requirements for a change in accounting principle and at least four reasons why companies might implement a change in accounting principle.
Use a selected company or your current work environment to identify at least one cost or expense that would fit under each of the following categories:
Write a business memo to the head of the company stating why his proposed actions (of buying the company) might not be a good idea based upon the sales information you reviewed.
1. A major purpose of cost accounting is to 2. The two basic types of cost accounting systems are
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