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Green Timber reported net income of $57,000?; depreciation expenses of $11,000?; a gain on a land sale of $1,000?; and a decrease in Accounts Receivable of $500. Under the indirect? method, net Cash Flows from operations? is
During October 175,000 units were completed and transferred out. At the end of the month, 30,000 units (direct materials 80 percent complete and conversion 40 % complete) remain in WIP inventory. Compute EU, cost per EU, cost of units transferred o..
XYX Corp projects the next period sales will be 12,000 units, and it desires ending inventory equal to 20% of the next month’s sales. What is the desired inventory?
Deluxe River Cruises operates a fleet of river vessels. The fleet has two types of vessels: A type-A vessel has 60 deluxe cabins and 160 standard cabins, whereas a type-B vessel has 80 deluxe cabins and 120 standard cabins.
Rachel’s Designs has 2,000 shares of 7%, $50 par value cumulative preferred stock issued at the beginning of 2013. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2013 or 2014. The co..
(Audit evidence) In an audit of financial statements, an auditor must judge the validity of the audit evidence obtained. Describe the factors that the auditor should consider in evaluating inquiry and oral evidence provided by client officers and emp..
As of January 20, 2015, preliminary financial statement numbers for the year ended December 31, 2014, have been compiled. It looks like Chiso will violate the current ratio loan covenant. Violation could be very costly in two ways. First, Rio Grande ..
On June 30, 2016, K Co. had outstanding 8%, $17,000,000 face value bonds maturing on June 30, 2021. Interest is payable semi annually every June 30 and December 31. what amount should K Co. recognize as gain on redemption of bonds before income taxes..
In Vilo's interim income statement for the six months ended June 30, year 1, what is the total amount of expense relating to these two items that should be reported?
a city orders a new computer for its general fund at an predictable cost of 88000. its actual cost when received is
multiple choice questions related to basic1.in order to impose secondary liability the following requirements must be
The Tatiana Partnership is a calendar year, cash basis limited partnership which was formed on 1 January 2014. The partnership is in the business of training attack dogs and cats (business code 541990). The address for the partnership and both partne..
On July 4, Avalon Restaurant accepts a Visa card for a $200 dinner bill. Visa charges a 3% service fee. Prepare the entry on Avalon's books related to this transaction.
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