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Accrual versus cash basis of accounting.
Consider the following information reported by DairyLamb, a New Zealand firm; all figures are in millions of New Zealand dollars ($). The firm reported revenues of $13,882, cost of goods sold of $11,671, interest and other expenses of $2,113, and tax expense of $67. It also reported $13,894 in cash receipts from customers, $102 in miscellaneous cash receipts, $5,947 in cash payments to employees and creditors, $6,261 in cash payments for milk, $402 in cash payments for interest, and $64 in cash payments for taxes. Calculate net income and its net cash flow.
On January 1, 2003, ABC co. purchased a building and machinery that have the following useful lives, salvage value, and costs-Prepare the journal entry necessary to record the depreciation expense on the building in 2008
cavanaugh construction specializes in designing and building custom homes. business has been excellent and cavanaugh
Hayslett Corporation was organized on January 1, 2006. It is authorized to issue 20,000 shares of 6%, $50 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2 per share.
1.james has a 30 interest in the xy partnership. in the current year the partnership has sales of 2400000 cost of goods
coverall carpets inc. is planning to borrow 12000 from the bank. the bank offers the choice of a 12 percent discount
Shaw prepares an income statement for the first quarter of 2012, ending on March 31, 2012. How much revenue should Shaw recognize related to its sale to Ricard?
gambinos pizza operates strictly on a carryout basis. customers pick up their orders at a counter where a clerk
you are the beneficiary of a trust fund established by your aunt. your aunt has given you two options to choose from
Describe the effects that this transaction would have had on the company's financial statements. Assume that 600 million shares were outstanding at the time of the transaction, trading at a stock price of $ 33. Why might the board of directors have d..
the following list in alphabetical order shows the various items that regularly appear on the financial statements of
Calculate the company's ROI efficiency
The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $60,000.
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