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Carlyn Corporation's accumulated depreciation - furniture account increased by $7,500, while $2,750 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of depreciable or intangible assets during the year. In addition, the income statement showed a loss of $4,000 from the sale of land.
Reconcile a net income of $107,500 to net cash flow from operating activities.
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Gannon uses the perpetual system in accounting for merchandise inventory. Prepare (1) the September 9 entry to establish the fund and (2) the September 30 entry to both reimburse the fund and reduce it to $300.
Memo on Capitalization of Cable Equipment
youve finally saved 10000 and are ready to make your first investment. youve the three following alternatives for
Each units of finished product requires four pounds of raw material at a cost of $1.40 per pound. There are 140,000 pounds of raw material in inventory on June 30. Compute the company's total required production in units of finished product for t..
On February 2, 2011, it was determined that the patent's useful life would expire at the end of 2013. How much would Lexicon record as amortization expense for this patent for the year ending December 31, 2011?
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For a leased asset under a lease that qualifies as a capital lease, the depreciation period used by the lessee must be:
gruden company produces golf discs which it normally sells to retailers for 6.84 each. the cost of manufacturing 24400
Why may net cash flow from operating activities on the cash flow statement be different from the amount of net income reported on the income statement?
While US GAAP requires assets to be valued at the lower of cost or market, there is a belief that assets with value fluctuations should be valued at market and adjusted on a regular basis. Create an argument supporting the use of market value for ..
richard exchanges a building with a fmv of 75000 a basis of 35000 and subject to a liability of 25000 for land with a
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