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The net income reported on the income statement for the current year was $310,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000, respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows:
End
Beginning
$ 50,000
$ 60,000
Accounts receivable
112,000
108,000
Inventories
105,000
93,000
Prepaid expenses
4,500
6,500
Accounts payable (merchandise creditors)
75,000
89,000
What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
She bought breakfast on the way to the conference hotel and she bought dinner on her way home each night from the conference. What amount of these costs can Melissa deduct as business expenses?
a company is building a widget. during the current year a widget requires direct materials with a cost of 500. the
ghana corporation has 10000 shares of its 100 par value 7 percent cumulative preferred stock outstanding and 50000
display labs inc recently began production of a new product flat panel displays which required the investment of
lead time analysis furry friends inc. manufactures toy stuffed animals. the direct labor time required to cut sew and
Twelve percent of the containers were not returned. The deposits are based on the container cost marked up 20%. What is cost of goods sold relative to this forfeiture?
Two-Variance Analysis: Service Company Example International Finance Incorporated issues letters of credit to importers for overseas purchases.
These raw materials included both direct and indirect materials. The indirect materials totaled $4,000. The journal entry to record this requisition would include a debit to Manufacturing Overhead of
Jaclyn is going to the company's primary bank to negotiate a line of credit and wants to show the maximum amount of income without actually changing last year's results. What costing method of inventory(variable or absorption) should she choose? W..
Record any necessary journal entries in 2010, applying the expense warrenty accrual method.
1.vango inc. sells part number 86z to auto parts stores around the world. information about part number 86z is
If I have $4,000 worth of beginning inventory and purchase $10,000 additional in the month. I have $12,000 worth of storeroom issues throughout the month and $150 in employee meals. My cost of goods sold for the month is _______ and I found this u..
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