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Flint Company purchased $4,000 of merchandise on account. Flint sold the merchandise to a customer for $7,000 cash. What is the increase in gross margin and the net change in cash flow from operating activities as a result of these transactions?
Compute basic and diluted EPS for the year ended December 31, 2009.
Calculate the amount of net income reported on XYZ Company's 2011 income statement. Do not use decimals in your answer.
The contractor was paid $2,200,000. An assessment made by the city for pavement was $6,400. Interest costs during construction were $170,000.
If the investor holds the bond until it matures and collects the $1,000 par value from the Treasury and his marginal tax rate is 28 percent, what will his after-tax yield to maturity be?
Compare and contrast GAAP and income tax accounting. Describe how they are similar and why there are differences.
Mary received a liquidating distribution from ABC Corporation as part of the complete liquidation of ABC Corporation. Mary's basis for her ABC Corporation stock was $10,000.
A company purchased land for $80,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the cost principle, the cost of land wo..
Identify whether the above audit procedure is a test of control, a substantive test of transactions, or a test of details balances.
for 2010, ford corporation reported net income of $15000, net sales $200000; and average share outstanding 6000. there were no preferred stock dividends. what was the 2010 earnings per share?
Which method of accounting (GAAP or IFRS) do you more closely agree in concerning the allocation of purchase price? Explain your rationale.
Prepare entries in journal form to record the (1) monthly payroll and (2) employer payroll expenses, assuming Social Security and Medicare taxes equal to the amount for employees, a federal unemployment insurance tax of 0.8 percent, a state unempl..
Bach's Clothing Store is considering a new product line: umbrellas and rain gear. The new product line would require an investment of $20,000 in equipment and fixtures and $40,000 in working capital. Store managers expect the following pattern of ..
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