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1. On July 15, 2011, M.W. Morgan Distribution sold land for $35 million that it had purchased in 2006 for $22 million. What would be the amount(s) related to the sale that Morgan would report in its statement of cash flows for the year ended December 31, 2011, using the direct method? The indirect method?
Customers owe the shop $3,200 for services already performed and the workers were hired this year and are owed $550 at the end of the year for work in December.
Discuss why activity-based allocations are different from those generated by the traditional allocation method used by Summit.
Please explain why the current book value of the capital structure is likely to be different than a company's target capital structure? Also, give the differences between current book value of the capital structure and a company's target capital stru..
Referring to your answer to part a, explain why allocations are sometimes considered arbitrary.
Describe the purpose of a flexible budget. Suppose a manager claims flexible budgets are useful because costs are difficult to predict and flexibility is needed to change budgeted costs as input prices change. Do you agree?
Evaluate the costs of goods transferred out and the ending inventory using the weighted-average method.
Express the following comparative income statements in common size percents and assess whether or not this company's situation has improved in the most recent year (round the percents to onedecimal).
The following calendar year end information is taken from the December 31, 2013, adjusted trial balance and other records of DeLeon Company.
Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings.
Assuming 4,800,000 copies were made during the year, 2,500,000 for sales and 2,300,000 for administration, calculate the copy department costs allocated to sales and administration.
Changes in current asset and current liability accounts for the year that relate to operations
Prepare the company's sales budget and schedule of expected cash collections. Prepare the company's production budget for the upcoming fiscal year.
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