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1.Golden Corp., a merchandiser, recently completed its 2013 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all purchases of inventory are on credit, (4) all debits to Accounts Payable reflect cash payments for inventory, (5) Other Expenses are all cash expenses, and (6) any change in Income Taxes Payable reflects the accrual and cash payment of taxes. The company's balance sheets and income statement follow.
Additional Information on Year 2013 Transactions:
a. Purchased equipment for $ 36,000 cash. b. Issued 12,000 shares of common stock for $ 5 cash per share.c. Declared and paid $ 89,000 in cash dividends. Required :Prepare a complete statement of cash flows; report its cash inflows and cash outflows from operating activities according to the indirectmethod.
Budgets in Managerial Accounting: Matthew Gabon, the sales manager of Office Furniture Solutions, prepared the following budget for 2008:
Mad Dog Enterprises manufactures computer game control devices like joysticks and steering wheels. Following is the list of the costs incurred by Mad Dog in 2009:
describe the purpose of a flexible budget. suppose a manager claims flexible budgets are useful because costs are
Alder Company budgets an annual basis. The following beginning and ending inventory levels (in units) are planned for the next year. Two units of raw material are required to produce each of finished products.
Evaluate the arguments of the two partners - Explain and illustrate their points by identifying the relevant and irrelevant costs for this decision.
Calculate the target cost for maintaining current market share and profitability.
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Detroit Disk, Inc. is a retailer for digital video disks. The projected net income for the current year is $600,000 based on a sales volume of 400,000 video disks. Calculate Detroit Disk's break-even point for the current year in number of video di..
1.Prepare a proper title for the annual manufacturing statement of Arctic Cat. Does the date match the balance sheet or income statement? Why?
Demand for one specific tablet at Best Buy is 1,000 units per month. Best Buy incurs a fixed order placement, transportation, and receiving cost of $4,000 each time an order is placed with their supplier for the tablet. Each tablet costs $500 and B..
Selected comparative financial statement information of Bluegrass Corporation follows.
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