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All-Star Automotive Company experienced the following accounting events during 2016: 1. Performed services for $25,000 cash. 2. Purchased land for $6,000 cash. 3. Hired an accountant to keep the books. 4. Received $50,000 cash from the issue of common stock. 5. Borrowed $5,000 cash from State Bank. 6. Paid $14,000 cash for salary expense. 7. Sold land for $9,000 cash. 8. Paid $10,000 cash on the loan from State Bank. 9. Paid $2,800 cash for utilities expense. 10. Paid a cash dividend of $5,000 to the stockholders. Required a. Indicate how each of the events would be classified on the statement of cash flows as operating activities (OA), investing activities (IA), financing activities (FA), or not applicable (NA). b. Prepare a statement of cash flows. Assume All-Star Automotive had a beginning cash balance of $9,000.
andre corporation manufactures inexpensive pens. some of the companys data was misplaced. use the subsequent
Peters Company makes a product that regularly sells for $11.00. The product has variable manufacturing costs of $11.50 per unit and fixed manufacturing costs of $1.60 per unit (based on $180,00 total fixed costs at current production of 120,000 units..
Evaluate a recent case in the news about business fraud
On January 15, 2014, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31.
journal entries for company purchased a special-purpose duplicating machine by issuing a five-year zero-interest
Indicate whether the following revenues would most likely be classified as program revenues or general revenues on the government-wide statement of activities.
Journalize the partnerships receipt of assets and liabilities from Knoll and from Wyndon and compute the partnership's total assets, total liabilities, and total owners' equity immediately after organizing.
1.dupont reports in a recent balance sheet 598 million of 5.25 percent notes payable due in 2016. the companys income
the subsequent are selected 2012 transactions of darby corporation.1st sept purchased inventory from orion company on
An investor purchases 200 shares of XYX stock for $55.00 a share and immediately sells 2 covered call contracts at a strike price of $60.00 a share. The premium is $3.00 a share. What are maximum profit and maximum loss?
Macy's was selling Calvin Klein jean shirts that were originally priced at $58.00 for $8.70. Based on the selling price, what is the percent markdown?
use the appropriate information from the data provided below to calculate operating income for the year ended december
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