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Metro Bus Company had $400,000 of revenue and $401,000 of expense (including depreciation) for the current year resulting in a $1,000 net loss. All revenues were received in cash. All expenses were paid in cash except for depreciation of $181,000. The Balance sheet reveals $225,000 of Cash and $1,775, 000 of other assets. The Company has no debt and all of the busses are modern - there is no plan to purchase more busses. Although there are sufficient retained earnings, Management has decided to skip the normal $25,000 dividend to the stockholders - "with a $1,000 net loss. Management feels there is not enough cash for the dividend."
What is the Company's Cash flow? What is the difference between cash flow and net income? Evaluate management’s statement: "with a $1,000 net loss. Management feels there is not enough cash for the dividend." Evaluate the plan to skip the dividend.
What amount did Target report as accounts receivable, total on its ending 2007 balance sheet and Prepare the entries that Target made in its allowance for doubtful accounts in 2007
Zintel's common stock is traded dynamically and has a current market price of $15 per share. Prepare journal entries on Zintel's books to record the combination.
She spent $300 for airfare to another business seminar and $200 for parking at her office. Using car expense rate of 0.50 cents per mile, what is her deductible transportation expense?
A company produces plastic cups in a one - department process. The units in process at the end of the month are 100 percent complete with respect to materials and 50 percent complete with respect to conversion costs. What are the equivalent units for..
questiongeorge large worked as a salesman for toyboat inc. he received a salary of 80000 8500 of federal income taxes
The Bruggs and Strutton Company manufactures an engine for carpet cleaners called the "Snooper." Budgeted cost and revenue data for the "Snooper" are given below, based on sales of 40,000 units.
LaPlatt & Associates is bidding on tax and audit service for a potential client that are expected to require 100 hours of professional service time. Compute the estimated cost of the work using average professional wage rates and basing indirect c..
Cost of Goods Manufactured, Cost of Goods Sold, and Impact on Financial Statements. Calculate the Cost of Goods Manufactured. Calculate the Cost of Goods Sold
Using FIFO, perpetual inventory costing; and the following information, determine the cost of materials used and the cost of the July 31 inventory.
mr.arvind has good amount of savings he wanted to start a business which can give him a good margin of profit. he
Prepare journal entries to record the July transactions and events - Purchased raw materials for $125,000 cash - prepare a process cost summary,
Madison Company manufactures its only product using a single machine that has the capacity to operate 2,000 machine hours a year. This machine is rented at an annual cost of $100,000 and is the company's only manufacturing overhead cost.
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