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Keyser beverage company reported the following items in the most recent year.
Net income $40,000dividends paid $5,000increase in accounts receivable $10,000increase in accounts payable $7,000purchase of equipment (capital expenditure) $8,000depreciation expense $4,000issue of notes payable $20,000
Compute net cash provided by operating activities,the net change in cash during the year, and free cash flow.
Please indicate the journal entry to be made to record the transaction. Make sure that depreciation entries are made to update the book value of the machine prior to its disposal.
For a leased asset under a lease that qualifies as a capital lease, the depreciation period used by the lessee must be:
Your local government created an agency to serve the local community in providing low income housing. That housing agency, called the Local Housing Board, is a tax exempt agency of local government and was created to receive federal funds for hous..
Accounting is becoming a global business language. Provide some evidence of this assertion. What are some of the implications of this trend?
Search the Internet for at least four (4) stories about major charitable contributions by individuals, including Bill Gates, Warren Buffett, Steve Jobs, and at least one (1) other individual.
LaFond Company analyzes its accounts receivable at December 31, 2010, and arrives at the aged categories below along With the percentages that are estimated as uncollectible.
Identify the five components that comprise pension expense. Briefly explain the nature of each component. What is a private pension plan? How does a contributory pension plan differ from a noncontributory plan.
Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with res..
A local church is studying the amount of offerings in an envelope from their early Sunday mornings services. The church studied 500 envelopes and found the following:
Journalize the Transactions and Posting them into ledger and Preparation of Trial Balance.
How do the provisions of SFAS No. 123(R) differ from the bill introduced by members of Congress (Dreier and Eshoo), which would require expensing for options issued to only the top five officers in a company? Which approach do you think would res..
What are the main approaches for setting transfer prices? How can the problems that these approaches create be reconciled between the selling and buying divisions?
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