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Classification of various cash flows in to Operating, Investing or Financing activities.
Cash Flow Classifications
For each of the following items, indicate whether it would be classified and reported under the operating activities (OA), investing activities (IA), or financing activities (FA) section of a statement of cash flows:
1. Cash receipts from selling merchandise 2. Cash payments for wages and salaries 3. Cash proceeds from sale of stock 4. Cash purchase of equipment 5. Cash dividends paid 6. Cash received from bank loan 7. Cash payments for inventory 8. Cash receipts from services rendered 9. Cash payments for taxes 10. Cash proceeds from sale of property no longer needed as expansion site
Identify the limitations of the internal control system. Provide at least 3 limitations and provide at least 2 examples of internal control procedures, and explain how these procedures can be implemented.
identification of costs into fixed and variable.costs can be classified into two categories fixed and variable costs.
Explain the federal gift and estate taxes. What is the purpose of the federal gift tax? What is the reason of the estate tax? When are the taxes applied?
List and briefly describe the three general areas of responsibility for a chief financial officer (CFO) of a selected non-financial company which is listed on Australian Stock Exchange (ASX).
At the end of the fiscal year, the usual adjusting entry for depreciation on equipment was omitted. Will asset for the year be overstated or understated?
The firm has conducted significant market research and estimated the following pattern for sales of the new product - product, and selling and administrative expenses are expected to average $50,000 per year, what is the target cost to produce the n..
Prepare a schedule showing the distribution of net income, assuming net income is (1) $50,000 and (2) $36,000 and journalize the allocation of net income in each of the situations above.
Purpose a Statement of Cash Flows for Arte's Gallery for the year ended 30 th June 2012 using the preformed provided. Show all calculations.
Journalize the closing entries at April 30 and Post the closing entries to Income Summary and Retained Earnings. Use T accounts.
Provide Ken with an estimate of the opportunity cost, and explain why you do not have to consider rent or depreciation of office equipment in your estimate .
Use the horizontal model (or write the journal entry) to show the effect of the sale of the season tickets, use the horizontal model (or write the journal entry) to show the effect of presenting an event.
question show the amount if any that josh will deduct as ordinary and essential business deductions in each of the
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