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Josh's PhotoPlus reported net income of $73,000 for 2012. Included in the income statement were depreciation expense of $7,000 and a gain on sale of equipment of $2,500. Josh's comparative balance sheets show the following balances.
12/31/11
12/31/12
Accounts receivable
$17,000
$21,000
Accounts payable
6,000
2,200
Calculate net cash provided by operating activities for Josh's PhotoPlus.
Compute the amount of the liability that should appear on the December 31, 2011, balance sheet.
The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours.
What are the right formula's for interest rate on long term debt, par value of common stock, and dividend policy?
An accountant has debited an account for $3,500 and credited a liability account for $2,000. Which of the following would be an incorrect way to complete the recording of this transaction:
The adjusted balances taken from the general ledger of Coopertown Suppliers, Inc. is listed below in general ledger order. Transfer these accounts and balances and prepare an Income statement, Balance Sheet, and Statement of Retained Earnings all ..
Matt Company uses a standard cost system. Information for raw materials for Product RBI for the month of October follows:
picture pretty manufactures picture frames. sales for august are expected to be 10000 units of various sizes.
for your assignment discuss when the government and nonprofit organizations would use each of the following
Which of the following is related to the qualitative characteristics that make financial information useful?
charles austin of the controllers office of thompson corporation was given the assignment of determining the basic and
At December 31, 2008, the fair value of the securities was $585,000. What should Quinn report on its 2008 income statement as a result of the increase in fair value of the investments in 2008?
What are some of the difference between the preparation of fund-basis financial statements and the preparation of the government-wide statements. What are some of the differences in requirements? When is each used and who is the audience for each?
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