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!
Based on the following income statement and balance sheet for Botanical Genetics Corporation, determine the cash flows from operating activities using the direct method.
Botanical Genetics Corporation
Income Statement
For Year Ended December 31, 2013
Sales
$504,000
Cost of goods sold
327,600
Depreciation
42,000
Other operating expenses
125,500
(495,100)
Other gains (losses):
Gain on sale of equipment
7,200
Income before taxes
16,100
Income tax expense
(4,800)
Net income
$ 11,300
Balance Sheets
At December 31
2013
2012
Cash
$64,650
$55,800
Accounts receivable
21,000
29,000
Inventory
58,000
52,100
Equipment
240,000
222,000
Accumulated depreciation
(106,000)
(96,000)
Total assets
$277,650
$262,900
Liabilities:
Accounts payable
$28,400
$23,700
Income taxes payable
1,050
1,200
Total liabilities
$29,450
$24,900
Equity:
Common stock
$106,000
CC in excess
18,000
Retained earnings
124,200
114,000
Total equity
$248,200
$238,000
Total liabilities and equity
hometown delivery co. incurred the following costs related to trucks and vans used in operating its delivery service
On December 16, 2008, the company's controller made a preliminary estimate of the predetermined overhead rate for the year 2009. The new rate was based on the estimated total manufacturing overhead cost of $3,402,000 and the estimated 63,000 total..
calculate pv ratio and break even point in sales with the use of pv ratio from the per unit figures mentioned below
During the month, merchandise is sold for $23,500 cash and for $34,000 on account. The cost of merchandise sold is $41,500. What is the amount of gross profit?
Prepare the entry on P Company's books to record the effect of the issuance assuming the cost method.
monarch associates a u.s. computer parts manufacturer entered into a joint venture with a russian computer technology
What characteristic of absorption costing caused the drop in net operating income for the second quarter and what could the controller have said to explain the problem?
If comparative balance sheets indicate no notes receivable on the first, or base, date and a $50,000 note receivable on the laterdate, the increase of $50,000:
discuss the differences between substantive law procedural law criminal law civil law common law and statutory law.
What are some examples of positive and negative evidence used to establish the need for a valuation allowance for a tax loss carryforward? What is the effect of the valuation allowance on the free cash flow forecast?
What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation?
You have been asked to speak at a career fair for high school students in your home town. Specifically, you are making a presentation about your role as an accountant.
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