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(a) Purpose a Statement of Cash Flows for Arte's Gallery for the year ended 30th June 2012 using the preformed provided. Show all calculations.
(b) Below is the summarized Statements Cash Flow for two other sole traders. Comment on which one has a healthier cash flow situation and justifies your answer by explaining the importance of each of the three kinds of cash flows for each business:
Bill's Ben's
Cash flow from Operating Activities 12 000 6 000
Cash flow from Investing Activities (18 000) 8 000
Cash flow from Financing Activities 4 000 (12 000)
Net increase / (decrease) in cash held (2 000) 2 000
Cash at the starting of the year 5 000 5 000
Cash at the end of the year 3 000 7 000
Evaluate Becky's bad debt deduction for 2012? For 2013? What forms are used to record the bad debt on her tax return?
Resource use is one characteristic used to differentiate between batch and real-time systems. Describe.
Evaluate the under- or over-applied manufacturing overhead for 2012. Prorate the amount evaluated in based on the ending balances (before prorating) of Work in Process, Finished Goods, and Cost of Goods Sold.
Journalize the subsequent transactions in the books of Mr. Walter.
Evaluate clients financial statement balance for inventory
Evaluate smith's tax expense for the year ending 31 st December, 2012? Evaluate smith's tax liability for the year ending 31 st December, 2012?
Determine the expected portfolio return, rp, for each of the 6 years. Evaluate the expected value of portfolio returns, rp, (line over the r) over the 6-year period
Evaluate the consolidated balance for the Equipment account
Determine the cost of the units transferred to the next department? What does Acme's choice of costing system tell you about the product Acme makes and sells?
In a statement of cash flows prepared by the indirect technique, which of the subsequent events would be deducted from net income? In a statement of cash flows, which of the subsequent events would be classified as a financing activity?
What data may be considered as fraud risk factors
Organize the appropriate journal entries through the maturity of each liability.
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