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Ruiz Company provided services for $15,200 cash during the 2011 accounting period. Ruiz incurred $13,200 expenses on account during 2011, and by the end of the year, $3,200 of that amount had been paid with cash. Assuming that these are the only accounting events that affected Ruiz during 2011,
A) The amount of net cash flow from operating activities shown on the statement of cash flows is $5,200.
B) The amount of net income shown on the income statement is $10,000.
C) The amount of net loss shown on the income statement is $2,000.
D) The amount of net income shown on the income statement is $2,000.
The Sneed Corporation issues 10,000 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $750,000 and a credit or credits to:
last year brinkman company had 20000 units in its ending inventory. in this current year brinkmans variable production
A company switched from the cash basis to the accrual basis for recognizing warranty expense. The unrecorded liability for warranties was $2.1 million at the beginning of the year. Its tax rate is 35%. The company booked a year-end warranty liability..
below are ratios for two companies which operate in the same industry.nbspcompany acompany bpe27.863.0gross profit
Edy's, Inc. wants to purchase of a new ice cream truck with a cost of $51,000. Edy's has a cost of capital of 7.4% and a required rate of return of 10.4%. Its income tax rate is 32%. The acquisition is proposed for January 1, 2011.
All revenue and inter fund transfers of the City of Fenton are accounted for on the modified accrual basis. Below is shown a list of Fenton's General Fund transactions of a revenue or transfer nature. State which ones should be recognized by the Gene..
Advertising is the primary source of revenue for newspaper companies. Over the past 10 to 15 years, the newspaper industry has been adjusting to changes in the mix of services that produce this revenue.
Given the allocated costs at 10% of revenue, calculate the number of workshops that must be offered to break-even and calculate assuming Janice can re-negotiate the part-time trainers' cost to $1000 per workshop.
What is the importance of the turnover of Accounts Receivables? Why is it is essential for organizations to keep cash reserves on hands? Is it possible to still bring in a lot of revenue, but still be short on cash?
An example of an activity cost pool is
Variance between budget projections and budget performance is inevitable. Elucidate whether or not a proactive application of cost measurement and corrective actions are a realistic approach to minimize variance.
Effect on the contribution margin per unit and the contribution margin ratio and calculation used in a CVP analysis is the breakeven point.
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