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Part A-
a. What is the interest expense for 2013 b. How much equipment was purchased during the year? c. What was the depreciation expense for 2013? d. Were any share issues? If any, calculate the value. e. How much in dividend was paid during the year 2012 f. How much cash was received from customers during the year? g. How much was paid in tax?
Part B
Scenario 1 a) Prepare the income statement of Deagan Lawn Service for the four months b) Prepare the classified balance sheet of Deagan Lawn Service at 31 August c) Was Deagan's summer work successful? Give the reason for your answer
Scenario 2
Whether the Report Address the following?
a) Will you use the cash basis or the accrual basis of accounting? Give a complete description of your reasoning. b) How often do you want financial statements? Why? Discuss how you will use each financial statement c) What kind of revenue will you earn? When will you record it as revenue? How will you decide when to record the revenue? Scenario 3 On behalf of Brent and Den write a loan request include the followings: The request should specify all the details of Brent's and Den's plan that will motivate the bank to grant the loan. Include a budgeted income statement for the first six months of the copy centre's operation.
Which plan results in the higher earnings per share? Which plan allows you to retain control of the company? Which plan creates more financial risk for the company? Which plan do you prefer? Why? Present your conclusion in a memo to First Bank Fin..
Using the financial statements and additional information, compute the following ratios for Gaines Company for 2013. Show all computations.
Organize a statement of cash flows
Illustrate what is the overall impact on net income over the two accounting periods? (Negative amounts should be indicated by a minus sign. Omit the "$" sign in your response.)
Should the company continue to manufacture the part, or should it buy the part from the outside supplier- Target cost equals selling price required return of computer company required return to Timberland - Prepare a three-column comparative income s..
choose the correct optionchoose the correct answer from the given option.1.nbspwhich of the following reflects the
journal entries of merchandise purchase on account.1. 3302009 sold 1700000 merchandise inventory on account.nbsp all
A $2,700 note receivable was collected by the bank for Shellankamp Company on May 31 plus $110 interest. The bank charged a collection fee of $20. No interest has been accrued on the note.
Would you expect management to worry about attitudinal surveys, such as the one described in Headline below. Explain you answer, as well explaining how such surveys might impact on the disclosure policies of an organisation.
Carol owns 40% of CJ Partnership. The partnership reports $170,000 of revenue, $60,000 cost of goods sold, and $70,000 of other expenses that include $1,500 of doctor bills paid for Carol, a $2,000 charitable contribution, and a $5,000 Section 17..
How is the gross profit rate evaluated in this problem - Patrick uses the equity technique to account for its investment
Determine the amount of gross profit or loss to be recognized in each of the three years using the percentage-of-completion method.
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