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Lipkus Company has recorded the following items in its financial records.Cash in bank $47,000Cash in plant expansion fund 100,000Cash on hand 12,000Highly liquid investments 34,000Petty cash 500Receivables from customers 89,000Stock investments 61,000
The cash in bank is subject to a compensating balance of $5,000. The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years.
presented below is the adjusted trial balance of twk inc. at december 31 debit credit cash 10 accounts receivable 20
Smith Corporation reports the following information: Net income $500,000 Depreciation expense 140,000 Increase in accounts receivable 60,000 Smith should report cash provided by operating activities of:
Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:
What are the tax consequences of property contributions in exchange for ownership interests to the contributing party and to the entity for C Corporations and Trusts?
on january 1 2010 lead inc. issues five-year 10000000 9 percent notes at 98 9800000. the discount at the time of sales
Ajani Company has variable costs equal to 40% of sales. The company is considering a proposal that will increase sales by $10,000 and total fixed costs by $6,000. By what amount will net income increase?
Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately?
accounts receivable from sales transactions were 45859 at the beginning of the year and 61749 at the end of the year.
a building that was purchased on december 31 2000 for 2500000 was originally estimated to have a life of 50 years with
Beverly Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following events and transactions occurred.
if fixed costs are 700000 and the unit contribution margin is 14 what amount of units must be sold in order to realize
A Company produces and sells three products (A,B,C). The following data relate to the three products.
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