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Question - Company XYZ had the following transactions during the year:
1. Increase in accounts receivable
2. Purchased equipment
3. Sold land
4. Depreciation of truck
5. Increase in accounts payable
6. Decrease in notes payable
7. Issuance of common stock
8. Gain on sale of land
Required - Classify each transaction as (1) operating, investing, or financing, and (2) increase or decrease in cash. You can also classify a transaction as a noncash activity.
Jet Fuel Ltd. has a customer rewards program. For every litre of gas Jet Fuel sells, Prepare the journal entry for February reflecting the actual loyalty
Determine Why would a firm want to issue both preferred stock and common stock rather than just one category of stock? with example
Prepare journal entries for Rotations' June 2014 variable and fixed manufacturing overhead costs and variances; write off these variances to cost of goods sold.
The company is considering hiring its own sales staff to replace the network of agents. It will pay its salespeople a commission
Prepare a retained earnings statement for the year ended December 31, 2016. Enter all amounts as positive numbers. The word Less is not required.
The company requires a minimum pretax return of 18 percent on all investment projects. Find the net present value of the proposed project
Subsidiary sold goods to Parent P200,000. 40% of the goods purchased by the Subsidiary still remain unsold by the end of the year. Find the consolidated cost
Joe and Diane each recognize gains to the extent of the cash they received. What is the character of Joe and Diane's gains
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Duke and Lord entered into a joint venture to buy and sell second-hand cars. Profits and losses were to be shared.
Determine the amount distributed to each class of stockholders for this two-year-old company
Determine the amount of warranty expense to appear in the year-end 12/31/14 income statement
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