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Mayer Instrumentation sold a depreciable asset for cash of $202,000. The original cost of the asset was $1,250,000. Mayer recognized a gain of $30,000 on the sale. What was the amount of accumulated depreciation on the asset at the time of its sale?
Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year and calculate the total cost per unit for each month
Last year Burford Company's cash account decreased by $19,000. Net cash used in investing activities was $9,000. Net cash provided by financing activities was $16,000. On the statement of cash flows, the net cash flow provided by (used in) operating ..
Mr. Dev is the owner of a factory. From the following balances that are extracted from his ledger, you are required to prepare a Trial Balance as on Mar 31, 2010.
Choose a publicly traded company, and review its statement of cash flows. Provide a link to the statement in your post. Do not choose a company about which one of your classmates has already posted. Calculate the cash flow ratios presented in the rea..
Of the cash payments received from customers on December 1, 20% of these services were performed in December and half relates to future services to be rendered in the following year.
For each of the above situations, indicate whether you agree or disagree with the accounting treatment. If agree, explain which assumption or principle supports the accounting treatment. If disagree, explain which assumption or principle is viol..
The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.
Prepare a Cash Flow Forecast for AudioFile for the month of January 2013. Include appropriate supporting schedules.
The liabilities of Cummings Company are $90,000 and the stockholders' equity is $230,000. What is the amount of Cummings Company's total assets?
Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2010. Janex's reported earnings for 2010 totaled $432,000, and it paid $120,000 in dividends during the year. On the consolidated financial statements for 2010..
What problems can arise when full cost plus a markup is used as a transfer price? There are six categories of costs associated with inventor able goods for sale. What are they? How would the handling of transfer prices differ in a perfectly competiti..
At the start of November, Penco Refinery had Work in Process inventory consiting of 4,000 units that were 70% complete with respect to materials and 50% complete with respect to conversion costs. Calculate the cost of items completed during November...
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