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On July 15, 2011, M.W. Morgan Distribution sold land for $36 million that it had purchased in 2006 for $25 million. (a) What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2011, using the direct method? (Enter your answer in millions. Input the amount as positive value. Omit the "$" sign in your response.)
(b) Illustrate what would the above amount differ if the company were using indirect method?
Computation of Consideration for purchasing a running Business Firm - determine this amount. Under these conditions, how much should you offer O'Henry? Give your reason."
Classify the costs as either variable or fixed costs. Assume there are no mixed costs. Enter the dollar amount of each cost in the appropriate column and total each classification.
Assume that variable expenses are reduced by 20% per unit, and the total fixed expenses are increased by 10%. Find the sales in units to achieve a profit of $20,000, assuming no change in selling price.
Evaluate what will Accounts Receivable be at end of February and find what will cash payment for administrative and selling expenses be in February including fixed and variable cash expenses?
Which of the subsequent groups constitute a controlled group? (Any stock not listed below is held by unrelated individuals every owning less than 1% of the outstanding stock.) For brother-sister corporations, which definition applies?
What data may be considered as fraud risk factors
Which variable do you believe is the best selection for a cost driver? How did you choose the best cost driver?
Evaluate the amount to be reported as the cost of the land
Evaluate GenMet's net income for fiscal year 2013. Round your calculations and answer to one decimal place. Enter the amount in millions.
Evaluate the cash payback period for each proposal. Arrange a differential analysis report, dated 15 th November of the present year, on whether the equipment should be leased or sold.
Does Hayden identify any gain or loss as a result of this distribution and evaluate Hayden's basis in the land, in inventory, and in partnership interest immediately following the distribution.
Construct two journal entries for actual costs incurred - one for variable overhead and one for fixed overhead.
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