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Castine reports net income of $305,000 for the year ended December 31, Year 2. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, and a $100,000 decrease in notes payable. Calculate the new cash provided (used) in operating activities using the indirect method.
Rampart Hospital has total variable costs of 90% of total revenues and fixed costs of $50 million per year. There are 50,000 patient-days estimated for next year. What is the average daily revenue per patient necessary to breakeven?
rocks company manufactures deluxe commericial ice cream makers. for the first eight months of 2012 the company reported
at december 31 2010 kifer company had 500000 shares of common stock outstanding. on october 1 2011 an additional 100000
supreme sales company which sells only on account had a 100000 balance in its accounts receivable and a 4000 balance in
Thomas Book Sales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days.
during 2010 a company purchased a mine at a cost of 4116000. the company spent an additional 720000 getting the mine
What is the purpose of the CUT-OFF audit objective as applied to ACCOUNTS RECEIVABLE?
in the consideration of internal control the auditor is basically concerned that internal control provides reasonable
Victor has the full-time use of a company owned Jaguar automobile. This year Victor drove 24,000 miles for business and 10,000 personal miles
Canoe Company's production costs for the year were: direct labor, $30,000; direct materials, $50,000; and factory overhead applied, $6,000. The overhead application rate was:
lance and wanda dean are married. lance works for the convention bureau of the local chamber of commerce while wanda is
question earnings per share. santana corporation has 400000 shares of common stock outstanding throughout 2010. in
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