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On the statement of cash flows prepared by the indirect method, a $50,000 gain on the sale of investments would be:
1. added to dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
2. deducted from dividends declared in converting the dividends declared to the cash flows from financing activities related to dividends
3. added to net income in converting the net income reported on the income statement to cash flows from operating activities
4. deducted from net income in converting the net income reported on the income statement to cash flows from operating activities
Prepare the journal entries on the lessee's books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2011 ans 2012. kimberly-clark's corporate year end is december 31. Show all..
Logan Appliances purchased $8,000 of merchandise, 2/10, n/30, FOB shipping point. The seller prepaid the shipping charges of $200. If Logan pays for this merchandise within the discount period, how much should Logan remit to the seller?
It is discovered in 2011 that ending inventory from 2009 is understated. What accounts will be affected by this understatement, and how will they be affected? This is a situation that really happens. Start with the 2009 inventory being understated..
The total equivalent units for direct materials and conversion are 38,000 liters and 40,000 liters, respectively. Determine the direct materials and conversion cost per equivalent unit. Round all answers to nearest cent.
Your company has a pension plan. At the end of the year your company reports an ABO of $250,000, PBO of $300,000 and Plan Assets of $230,000 for the year ended December 31, 2011.
(a) Determine corrected net incomes for 2009, 2010, and 2011. (b) Give the entry to bring the books of the company up to date in 2012, assuming that the books have been closed for 2011.
Compute the amount of income from the partnership which Potter should report for his tax year ended December 31, 2012.
Assuming an income tax rate of 30% for all years, the net deferred tax liability that should be reflected on Smiley's balance sheet at December 31, 2010, should be
The following department data are available: Total materials costs $180,000 Equivalent units of materials 60,000 Total conversion costs $105,000 Equivalent units of conversion costs 30,000 What is the total manufacturing cost per unit?
NPV Project K costs $52,125, its expected net cash inflows are $12,000 per year for 8 years, and its WACC is 12 percent. What is the project's NPV?
After completing her residency, an obstetrician plans to invest $10,000 per year at the end of each year in a low-risk retirement account. She expects to earn five percent for 35 years. What will her retirement account be worth at the end of these..
The old machine has an adjusted basis of $36,000 and the new machine has a fair market value of $80,000. What is the recognized gain or loss and the basis of the new machine?
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