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You are an accountant at Evergreen, Inc and your boss (the CFO) has asked you to prepare the company's statement of cash flows for an upcoming shareholders meeting. He gave you the company's 2009 comparative balance sheet Use to claculate the change in cash due to operating, financing, & investing activities.
Many firms recognize revenus at the point of shipment. This provides an incentive to accelerate revenues by shipping goods at the end of the quarter.
For each of the following items, give an example of a business transaction that has the described effect on the accounting equation:
At the end of 2011, Tatum Co. has accounts receivable of $700,000 and an allowance for doubtful accounts of $28,000. On January 24, 2012, it is learned that the company's receivable from Novinger Inc-Make the journal entries to record the payment.
An increase in the activity level within the relevant range results in:
What is the Uniform Partnership Act of 1997 and what is the relevance to partnership accounting and what types of items are typically included in the partnership agreement? Explain.
What specific labour and overhead costs would be incurred, both before and after the split off point? Again, be specific here in terms of what you think would need to be incurred.
The methods of evaluating capital investment proposals can be grouped into two general categories that can be referred to as (1) methods that ignore present value and (2) present values methods.
Astro Company is a manufacturer and Luyten Company is a merchandiser. What is the difference in the budgets the two entities will prepare?
The production budget shows planned sales of 32,000. Beginning inventory is 5,600. Units to be produced are 33,600. What is the desired ending inventory?
Compute the net income for the current year, assuming that there were no entries in the Retained Earnings account except for net income and a dividend declaration of $22,590 which was paid in the current year.
A new employee suggests that RedEx sponsor a company softball team as a form of advertising. The cost to sponsor the team is $1,792. How many more units must be sold to cover this cost?
Calculate the firm's cost of retained earrings and the cost of new common equity. Calculate the break-point associated with retained earnings.
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