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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 Cash $ 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?
if a company declares a 2 for 1 stock split when its stock was trading for $40 just prior to the announcement and it has 2 million shares outstanding, what will the theoretical market price of the stock be just after the stock split? Are stockhold..
shown below is a segmented income statement for holmgren-mulchan during the current month profit centers
HD determined that it was more likely than not that 30% of the deferred tax asset ultimately would not be realized. HD made no estimated tax payments during 2009. What amount should HD report as income tax expense in its 2009 income statement?
Kevin is a candidate for an undergraduate degree at a local university. During 2010, he was granted a fellowship that provided the following: What amount can Kevin exclude from gross income in 2010?
Upstate Water Company just sold a bond with 50 warrants attached. The bonds have a 20-year maturity and an annual coupon of 12%, and they were issued at their $1,000 par value. The current yield on similar straight bonds is 15%. What is the implie..
matador inc. sells computer monitor screens. the direct labor dl rate includes wages benefits and payroll tax. direct
a trial balance taken at year-end showed total credits exceeding total debits by 4950. this discrepancy could have been
small motors inc which is currently operating at full capacity has sales of 29000 current assets of 1600 current
The capital balance for Bolcar is $110,000 and for Neary is $40,000. The two partners share profits and losses 70 percent (Bolcar) and 30 percent (Neary). Kansas invests $50,000 in cash into the partnership for a 30 percent ownership. The bonus me..
1. how do you calculate if 11000 units are produced what are the total amounts of direct and indirect manufacturing
Samson Company is an engineering firm. Many of the employees are engineers who are working individually on different projects. Most of the design work takes place on computers. The computers are connected by a network and employees can also "surf"..
Explain how the amount of tax expense for calender 2008 andthe amount of taxes payable (if any) at December 31, 2008, can bedetermined.
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