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(Learning Objectives 3, 4: Compute investing and financing amounts for the statement of cash flows) Compute the following items for the statement of cash flows:
a. Beginning and ending Plant Assets, Net, are $99,000 and $92,000, respectively. Depreciation for the period was $11,000, and purchases of new plant assets were $23,000. Plant assets were sold at a $7,000 gain. What were the cash proceeds of the sale?
b. Beginning and ending Retained Earnings are $37,000 and $74,000, respectively. Net income for the period was $61,000, and stock dividends were $14,000. How much were cash dividends?
Prepare the annual adjusting entries necessary on December 31 and the equipment has an estimated life of 16 years and a salvage value of $24,000 at the end of that time.
Recomputed the company\'s unit product costs in accordance with your recommendations.
Strategic compensation is a component of the human resource system. Organizations must determine the importance of many factors when choosing compensation and benefits. Evaluate how compensation strategies tie into underlying corporate values.
Which method, as presented in your text, should be used in this instance and why? Does it make a difference if the South Carolina plant has no idle capacity?
Calculate the increase or decrease in profits for the three divisions and the company as a whole (four separate computations) if the agreement is enforced. Explain your thought process.
Make a Flexible Budgeted Income Statement using variable costing
Prepare a multiple-step income statement, a retained earnings statement, and a classified balance sheet. $20,000 of the mortgage payable is due for payment next year - journalize the adjusting entries that were made.
It had a useful life of 10 years. On January 1, 2012, ELO spent 44,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is 5 years. Illustrate what amount should be reported for patent amort..
A company has current assets of $80,000 (of which $30,000 is inventory) and current liabilities of $20,000. What is the current ratio?
This merchandise was omitted from the year-end physical count. How will these errors affect inventory at year-end and cost of goods sold for the year?
What are McLaren's (a) asset turnover and (b) profit margin? (Round answers to 1 decimal place, e.g. 10.5.)
For the year 2012, complete the corporation's AMTI Complete the tentative minimum tax Complete the tentative minimum tax base Is there an amount of the AMT? If so, what amount? Assume no ACE adj
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