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A summary of cash flows for Westward Travel Service for the year ended October 31, 2014, is shown below. Cash receipts: Cash received from customers $247,840 Cash received from additional investment of owner 14,900 Cash payments: Cash paid for operating expenses 198,270 Cash paid for land 51,100 Cash paid to owner for personal use 3,100 The cash balance as of November 1, 2013, was $113,120.
Prepare a statement of cash flows for Westward Travel Service for the year ended October 31, 2014. Use the minus sign to indicate cash outflows, cash payments and decreases in cash.
On January 1, 2009, Boston Company purchased a heavy duty machine having an invoice price of $13,000; Boston paid transportation and installation costs totaling $3,000. The machine is estimated to have a 4-year useful life and a $1,000 residual va..
John Marten is a sole proprietor who engages in financial planning for wealthy individuals. He wants his offices to be decorated with rare collections of art as they are investments which should increase in value.
What will be the Average Shareholder's Equity?
Alpha and Beta are partners who share income in the ratio of 1:2 and have capital balances of $40,000 and $70,000 at the time they decide to terminate the partnership. After all noncash assets are sold and all liabilities are paid, there is a cash..
At that time, it was estimated that the dining room set could be sold for $2,400 as repossessed, or for $3,000 if the company spent $300 reconditioning it. The gross profit rate on this sale was 70%. The gain or loss on repossession was a
Hornbeck Company issued 100,000 bonds payable with a 7% interest rate at a price of 97. The journal entry to record the issue of the bond includes what?
question 1 the steps of the operating cycle for a retailer usually take place in which order?1.purchases of merchandise
On January 1, 2010, Zero Company obtained a $52,000, four-year, 6.5% installment note from Regional Bank. The note requires annual payments of $15,179, beginning on December 31, 2010. The December 31, 2011 carrying amount in the amortization table..
what are the common errors and frauds in the personnel and payroll cycle? which control characteristic are auditors
shady sunglasses operates retail sunglass kiosks in shopping malls. below is information related to the company dollar
USACo adjusted basis in the equipment is $10,000 on the date of sale. what is the source of the $340,000 gain on the sale of the equipment?
A small loan company finds 12% of its loans are defaulted for an average of 20% of the loan value. What is the expected percent of default for all their loans?
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