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Cash flows from operating activities, as reported on the statement of cash flows under the indirect method, would include:
a. receipts from the sale of investments.
b. net income.
c. payments for dividends.
d. receipts from the issuance of capital stock.
Prepare a journal entry for the taxes of Winston County's General Fund on July 1, 2005, the date on which the property taxes for the fiscal ending June 30, 2006, were billed to taxpayers.
Outdoor expo provides guided fishing tours. The company charges $200 per person but offers a 10% for parties of four or more. Consider the following transactions during the month of May.
Describe the differences between the three types of audits in terms of their scope and taxpayer type.
Journalize the entry to record the declaration of the dividend, cpaitalizing an amount equal to market value. Journalize the entry to record the issuance of the stock certificates.
Calculate net operating income and residual income for each division. Compare the two divisions and discuss the usefulness of ROI and residual income for the purpose of comparing the divisions.
Starling Coating produces weatherproofing coatings that protect metal from oxidation. One of Starling's patented coatings, zurtan, is composed of two inputs, magna45 and zelon. While both inputs are required, they can be substituted for each other..
Prepare the journal entries to record the November 17, 2011 (ignore cost of goods) and collection on November 26, 2011, assuming that the gross method of accounting for cash discounts is used.
Prepare a pro forma balance sheet dated December 31, 2008. Discuss the financing changes suggested by the statement prepared in part A.
Nagen Company had these transactions pertaining to stock investments:
An asset purchased by A Corporation for $15,000 ON 01/01/1997 also incurred freight charges of $200 and installation cost of $1,000.The asset had a life expectancy of eight years and a salvage value of $2,800.
Of the several uses of standard costing, one of the most controversial is using these standards for performance evaluation of an individual, team, or unit. Consider the labor efficiency variance and assume it is one of the measures for a company's..
The company will purchase the carpets from a local distributor for $350 each, with the privilege of returning any unsold units for a full refund. Jerry's club has offered Color Rugs two payment alternatives for the use of space.
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