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How will the change in accounts receivable be reported in the operating activities section of the statement of cash flows? Manning Co. uses the indirect method to prepare the statement of cash flows. the following amounts are shown in its Dec. 31, 2013 financial statements. Dec. 31, 2013 Dec. 31,2012 Accounts receivable $663,000 $600,000. Cost of goods sold $1,800,000. Sales revenue $2,400,000. Accounts payable $255,000 $195,000. Inventory $270,000 $375,000. Salaries payable $45,000 $30,000. Salaries expenses $165,000 $144,000.
Last year Sally's studio added 2,300 to retained earnings from sales of 66,800. the company had costs of 52,300 dividends of 1,000 and interest paid of 900 the tax rate was 34%. What was the amount of the depreciation expense?
Management is considering preparing a break even analysis. It's fixed costs are $100,000 and variable costs per unit are $10.00. They are considering production levels of 50,000 units and 100,000 units. For both levels of production, calculate per un..
Prepare the necessary journal entries for Perez Computers. 5 E7-7 (Recording Bad Debts) Duncan Company reports the following financial information before adjustments. Prepare the journal entry to record Bad Debt Expense assuming Duncan Company estima..
A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350 units. 150 units remain in ending inventory at January 31.
It would save $6,300 per year over the present method of delivering pizzas. In addition, it would result in the sale of 2,300 more pizzas each year. The company realizes a contribution margin of $1 per pizza.
Under the FIFO method, unit costs would:
Office Today’s revenue in the current year is $ 800 million and its cost of goods sold is $ 640 million. Compute Office Today’s gross profit and its gross profit percentage.
On January 1 2015 Acme company issued 100 ($1000 par) 6 % semi-annual 9 year convertible bonds when the market rate of interest was 8 %. make the journal entry on 1/1/15 when acme issued the bonds
Infinity Designs, an interior design company, has experienced a drop in business due to an increase in interest rates and a corresponding slowdown in remodeling projects. To stimulate business, the company is considering exhibiting at the Home and Ga..
Where is the appropriate placement of a modification paragraph in an audit report? When can an auditor issue a qualified opinion when there is a substantial going concern issue? What should the auditor do when faced with a material departure from GAA..
What are the company's footnote disclosures relating to impairment? Please also describe how to determine if impairment exists and how to calculate the impairment loss.
Tax Return Problem Ashley Panda lives at 1310 Meadow Lane, Wayne, OH 43466, and her Social Security number is 123-45-6789. Ashley is single and has a 20-year-old son, Bill. His Social Security number is 111-11-1111. Karl lives with Ashley, and she fu..
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