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Stillwater Designs is a private company and outsources production of its Kicker speaker lines. Suppose that Stillwater Designs provided you the following transactions.
a. Sold a warehouse for $750,000.b. Reported a profit of $100,000.c. Retired long-term bonds.d. Paid cash dividends of $350,000.e. Obtained a mortgage for a new building from a local bank.f. Purchased a new robotic system.g. Issued a long-term note payable.h. Purchased a 40 percent interest in a company.i. Reported a loss for the year.j. Negotiated a working capital loan.Required:
Classify each of these transactions as an operating activity, an investing activity, or a financing activity. Also, indicate whether the activity is a source of cash or a use of cash.
Geoffery and Sue are equal owners of Norse Corporation. They are considering a sale of the business. How much after tax cash will they have if they sell Norse's assets. How much if they sell the stock. Geoffery and Sue are equal partners of Norse L..
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Prepare a schedule to reconcile Quantaccs 2013 net income and December 31, 2013 stockholders' equity under IFRS to US GAAP.
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