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Selected financial statement information is reported below for Cameron Corporation for the year ended December 31, 2012.
Sales 400,000
Cost of goods sold 220,00
Depreciation expense 30,000
Wages expense 34,000
Other operating expenses 26,000
Net income 90,000
Dividends paid 20,000
Account balances Dec 31, 2012 Dec 31, 2011
Cash 25,000 37,000
Account recevable 30,000 40,000
Inventory 35,000 26,000
Wages 10,000 8,000
Using the above data, determine the cash flow from operating activities for the year using the direct method. Show your work.
What are the the limits of the terms of trade between these two countries? How would rising cost (rather than constant costs) affect the extent of specialization and trade between these two countries?
the company plans on paying a constant $0.75 a share annual dividend indefinitely. Explain how much are you willing to pay to buy a share of this stock today if your required return is 11.6 percent?
federal unemployment compensation taxes are $5,250. at the federal rate of 0.8% and state rate of 5.4%. Create the journal entry to record the payroll tax expense for the period.
What is preacquisition income? How should the preacquisition subsidiary revenues and expenses be handled in the consolidated balances for the year of acquisition?
What is your conclusion about the fairness of the recorded balance in accounts payable for Pinnacle Manufacturing as it affects the income.
The firm earned 423,300. The partners to share income by providing annual salary allowances of 39,000 to kim. 34,000 to tere. and 46,000 to josh. Granting 10 percent interest on the partners beginning capital investements and sharing the remainder..
Generate balance sheets for the business as of 31 st December, 2010 and 2011.Hint: Report only net equity on the balance sheet and remember that net equity equals the difference between liabilities and assets.)
What amount of net income would Spartan Company report on its 2010 income statement? Explain why the amount of net income differs from the amount of the ending Retained Earnings balance.
James owns a sole proprietorship. James pays his son Albert, age 17, $8,000 and his daughter Chloe, age 19, $11,000 for their work in the business. Both wages are reasonable for the work they perform. How much FICA tax must the sole proprietorship..
liam corporation has a single product value whose selling price is $140 and whose variable cost is $60 per unit. the monthly fixed expense is $40,000. Solve for the unit sales that are required to earn a target profit of $6,000.
What amount should Cox show in the investment account at December 31, 2012 if the beginning of the year balance in the account was $40,000?
At that level Allen Company expects to sell 3,000 units next year. Illustrate what is Allen’s break-even point in units if it purchases the new equipment?
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