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1. The president of Pratt Company is puzzled. During the last year, the company experienced a net loss of $800,000, yet its cash increased $300,000 during the same period of time. Explain to the president how this could occur.
In the middle of the year, the price of Lake Corporation's major raw material increased by 8%. How would this increase affect the company's break-even point and margin of safety?
Explain how to account for interest-bearing notes receivable. Notes receivable ultimately result in the receipt of both interest and principal to the holder of the notes.
The company paid dividends of $378 with a net working capital of $100. Current liabilities are $520 and the net fixed assets are $18,550. What is the total equity?
At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's receivable from Novinger Inc-Make the journal entries to record the payment.
Steve Smith has completed a forecast of cost-volume-profit analysis for the Swiss Chocolate Manufacturing Company's U.S. division manufacturing plant for the coming year.
If the ratio of cost to retail price is 60%, what is the amount of inventory to be reported on the financial statements?
Harnish Corporation is developing standards for its products. One product requires an input that is purchased for $55.00 per kilogram from the supplier. By paying cash, the company gets a discount of 8% off this purchase price.
a company had a beginning balance in retained earnings of 65000. net income for the current year was 122000 and cash
A local partnership is considering possible liquidation because one of the partners (Bell) is insolvent. Capital balances at the current time are as follows. Profits and losses are divided on a 4:3:2:1 basis, respectively.
wiengot inc. produces and sells a unique type of tv antenna. the company has just opened a new plant to manufacture the
In addition to the foregoing information, use the following data in determining the acceptability in this situation: Income from Net Cash Year Operations Flow 1 $100,000 $180,000 2 40,000 120,000 3 20,000 100,000 4 10,000 90,000 5 10,000 90,000 Th..
Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5 % in the second month after the sale; the remainder is never collected. Budgeted credit sales were:
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