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Operating Activities:
Net income-22,214
Depreciation expense-8,275
Gain on disposal of long-term assets-415
Increase in miscellaneous current assets
Increase in accounts payable-6,590
Increase in accrued salaries-4,072
Increase in inventories-7,320
Increase in income taxes payable-5,608
Net cash inflow from operating activities
Investing Activities:
Purchase of PPE
Purchase of long-term investments-29,930
Proceeds from sale of PPE-2,468
Proceeds from sale of long-term investment-14,077
Net cash outflow from investing activities
Financing Activities:
Issue common stock-10,000
Reductions of long-term debt-572
Issue long-term notes-126
Net cash flow from financing activities
Net cash flow
Cash & cash equivalents, 1/1-21,750
21,750
Cash & cash equivalents, 12/31
$23,455
Prepare a statement of cash flow using the indirect method. The acquisition of property and equipment is 31,083. What is the net increase in cash and equivalents and the cash and cash equivalents end of year.
List these steps in the sequence in which they would normally be performed. Describe ways in which the information produced through the accounting cycle is used by a company’s management and employees.
To write-off an AR account between afilliates, the journal entry, before consolidating, in the books of the company carrying the accounts receivable, would be debit to retained earnings as well as credit to accounts receivable? If not, what would ..
Prepare the journal entry to record the impairment at December 31, 2010 and prepare any journal entries for the equipment at December 31, 2011.
Determine the best regression equation possible given the data in Table 1 and the fact that overhead is to be the dependent variable.
Evaluate the Shareholder's Equity and determine for the given data the Break- even point in Units and in Dollars
Effect of different type of lease transaction in balance sheet and Make any necessary simplifying assumptions as we did in class.
"Activity-based costing is just another inventory valuation method. It isn't relevant for making operating decisions." Do you agree with this statement? Explain
Prepare the adjusting entries at March 31, assuming that adjusting entries are made quarterly - The ledger of Chopin Rental Agency on March 31 of the current year includes the following selected accounts before adjusting entries have been prepared.
Evaluate what amount of gain or loss should be reported on consolidated financial statements for 2010 and which of the subsequent will be included in a consolidation entry for 2011?
Are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system?
The first payment is $300 and each successive payment will increase by a constant dollar amount x. How much is the constant amount x? How much is the 48th payment?
Journalize the transactions in the general journal and Journal entries for various transactions in sole proprietorship
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