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Castine reports net income of $305,000 for the year ended December 31, Year 2. It also reports $93,700 depreciation expense and a $10,000 loss on the sale of equipment. Its comparative balance sheet reveals a $40,200 increase in accounts receivable, a $10,200 decrease in prepaid expenses, a $15,200 increase in accounts payable, a $12,500 decrease in wages payable, and a $100,000 decrease in notes payable. Calculate the new cash provided (used) in operating activities using the indirect method.
Calculate the amount of amortization that should be recorded on December 31, 2002.
Malrom uses straight-line amortization for patents. On December 31, 2007, the expected future cash flows expected from the patent were expected to be $800,000 per year for the next eight years.
The marketing manager has recommended that the selling price be increased by 25%, with an expected decrease of only 11% in unit sales. What would be the company's net operating income if the marketing manager's recommendation is adopted?
olson company has the following datamonthnbspnbspnbspnbspnbspnbspnbspnbsp budgeted
24800 were incurred in connection with the issue. interest on the bonds is payable annually each december 31. the 24800
prepare the general journal entry to update depreciation to july 1 2009. 2. prepare the general journal entry to record
Analyze the need for unbiased financial reporting. Based on your analysis, determine at least two (2) drivers that may cause financial reporting to be biased. Provide a rationale to support your response. Analyze the audit opinion formulation process..
The government also reported $5 million of net assets that were restricted for payment of debt service. The government's unrestricted net assets would be reported as:
if management accountants dont have to follow gaap in their reporting and have the freedom of more customized reporting
How could an individual get in financial trouble by using a credit card? If you were in trouble because of credit-card debt, what steps could you take to reduce your debts?
Discuss how the following business transactions affect the three elements of the accounting equation.
Identify the components of internal control to which each policy or procedure relates. For each item, identify one other policy or procedure for that internal control component that is not on the preceding list.
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