Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
David Saros operates his own catering service. Summary financial data for August are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the equation. Each increase and decrease in stockholders' equity, except transaction (4), affects net income.
Capital
Retained
Cash
+
Land
=
Liabilities
Stock
Earnings
Bal.
9,500
10,000
4,350
5,150
1.
+36,000
2.
-15,000
+15,000
3.
-21,250
4. Bal.
-1,500
7,750
25,000
18,400
a. Describe each transaction.
b. What is the amount of net decrease in cash during the month?
c. What is the amount of net increase in retained earnings during the month?
d. What is the amount of the net income for the month?
e. How much of the net income for the month was retained in the business?
f. What is the amount of net cash flows from operating activities?
g. What is the amount of net cash flows from investing activities?
h. What is the amount of net cash flows from financing activities?
Determine the cost of the finished goods inventory of light-gauge aluminum and prepare an income statement for the current year ended December 31
Vargo Corp. owes $308,000 to First Trust. The debt is a 10-year, 12% note due December 31, 2014. Because Vargo Corp. is in financial trouble, First Trust agrees to extend the maturity date to December 31, 2016, reduce the principal to $248,100.
Prepare a report that would be useful in assessing how well costs were controlled in this department.
What qualitative matters should be taken in considerations with requirement c and d? Describe. Would you change the decision taken on c and d? Clarify.
transaction analysis and statements. congress authorized the flood control commission to start operation on october 1
Canvas Reproductions has fixed operating costs of $12,500 and variable operating costs of $10 per unit and sells its paintings for $25 each. At what level of unit sales will the company break even in terms of EBIT?
question 1myriad solutions inc. issued 10 bonds dated january 1th with a face amount of 320 million on january 1 2013
Find the interest expense for the first year and evaluate the interest expense for the second year?
Submarine, Corp., earned net income of $110,000 for 2011. Submarine's books include the following figures: Preferred stock, 2%, $30 par, 1,000 shares issued and outstanding $30,000 Common stock, $1 par, $52,000 issued $52,000 Paid-in capital in e..
Calculate the applied overhead rate and use in determining value of WIP, Finished Goods and Cost of Goods Sold Indicate whether overhead was under or over applied and dispose of amount in appropriate manner.
looker hats is planning to sell 600 and produce felt hats 700 during june. each hat requires 12 yard of felt and 14
1. the alphonse company assign fixed overhead costs by machine hours and variable overhead costs by direct labor hours.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd