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Classify the following list of items by operating section, investment section, or finance section. Use the letter "O" for operating, the letter "I" for investment, and the letter "F" for finance.
(1) Depreciation expense(2) Sale of equipment for cash(3) Issuance of bonds for cash(4) Payment of cash dividend(5) Receipt of cash dividend(6) Payment of interest(7) Receipt of interest(8) Decrease in prepaid items(9) Net income(10) Issuance of stock for cash(11) Purchase of treasury stock for cash(12) Amortization of Franchise Fee(13) Rent expense(14) Sales revenue(15) Retirement of bonds for cash(16) Receipt of principal on loan made to third party
Compute the revenue to be recognized in fiscal year 2008 for the two operating divisions of Simona Amanar Industries in accordance with generally accepted accounting principles.
If a partner withdraws from a partnership and receives more cash than the amount recorded in the appropriate capital account, what accounting does the business make of the excess payment?
Jimmy's Repair Shop started the year with total assets of $100,000 and total liabilities of $80,000. During the year the business recorded $210,000 in revenues, $110,000 in expenses, and dividends of $20,000. Stockholders' equity at the end of the..
Compute the weighted average number of shares to be used in computing earnings per share for 2010.
The company requires a minimum pretax return of 13% on all investment projects. The net present value of the proposed project is closest to:
Equivalent units for materials total 20,000. There were 16,000 units completed and transferred out. Equivalent units for conversion costs equals 18,000. How much are the physical units for conversion costs if ending work in process is 50% complete..
what are the two types of audit tests? what are some examples of each of these two types of tests? how will the auditor
1.a company is contemplating investing in a new piece of manufacturing machinery. the amount to be invested is 150000.
Beebe Corporation (a calendar year taxpayer) has taxable income of $150,000, and its financial records reflect the following for the year.
The investments were sold for $175,000 cash. Prepare a statement of cash flows, using the indirect method of presenting cash flows from operating activities?
How could a tax cut achieve the same result? Would the tax cut have to be larger than the increase in government purchases? Why or why not?
cruz manufacturing had a bad year in 2008. for the first time inits history it operated at a loss. the companys
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