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The following account balances are for the noncash current assets and current liabilities of Sam's surfboard shop for 2008 and 20092008 2009Accounts Receivable $8000 $20000Inventory 55000 70000Prepaid insurance 3000 1000Accounts Payable 14000 22000Salaries Payable 4000 2000In addition, the income statement for 2009 is as follows:Sales Revenue $800000cost of goods sold 380000Gross profit $420000General and administrative expenses 60000Depreciation expenses 40000Total operating expenses $100000Income before interest and taxes $320000Interest expense 25000Income before tax $295000Income tax expense 88000Net income $207000Prepare the operating activities section of the statement of cash flows using the indirect method.
Expenditures were $3,000,000 in 2006 and $2,015,000 in 2007, including a change order in the amount of $15,000. What amount should be added to net capital assets in the governmental activities accounts in 2007?
Thirty flasks, 10 full, 10 half empty and 10 entirely empty, are to be divided among 3 sons so that flasks and content should be shared equally.
Projected sales for December, January, and February are $60,000, $85,000 and $95,000, respectively. The February expected cash receipts from all current and prior credit sales is:
Fleming Company has the following items: write-down of inventories, $240,000; loss on disposal of Sports Division, $370,000; and loss due to an expropriation, $226,000. Ignoring income taxes, what total amount should Fleming Company report as extr..
If interest rates suddenly rise by 2 percent, what is the percentage change in the price of these bonds?
What are some significant provisions of the Sarbanes-Oxley Act of 2002? Do any of you have to comply with these standards? - Answer 100-250 words.
Assuming Marten Co. has a portfolio of Available-for-Sale Debt Securities, what should Marten Co. report as a gain or loss on the bonds?
Goofy reclassified this investment as trading securities in December of 2011 when the market value had risen to $125,000. What effect on 2011 income should be reported by Goofy for the Crazy Co. shares?
Compute the equivalent units of production for materials and conversion costs for the month of September: Compute the unit costs for materials and conversion costs for the month. Determine the costs to be assigned to the units transferred out and in ..
Outline the options for financing your expansion. Discuss how this decision will impact your company in financial and cultural terms.
Prepare an income statement for the year 2007 starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement. Common shares outstanding for the year are 80,000 sha..
What would be the incremental effect on the company's overall profit of reworking and selling the material rather than selling it as is as scrap?
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