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The following selected transactions apply to Easy Stop for November and December 2014. November was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the following month. 1. Cash sales for November 2014 were $64,000 plus sales tax of 8 percent. 2. Easy Stop paid the November sales tax to the state agency on December 10, 2014. 3. Cash sales for December 2014 were $79,500 plus sales tax of 8 percent. Required a. Show the effect of the above transactions on a statements model like the one shown below. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign.)
marina del rey manufacturing corp. uses a standard cost system that records raw materials at actual cost records
1 Million shares outstanding stock worth $20.00 per share, beta is 1.2 Also have 10-year bonds outstanding with a par value of 10 million, coupon rate of 6%, YTN 7%, yield is 2 percentage points abouve the risk free rate and 4 percentage points be..
if fixed costs and expenses are 240000 and variable costs and expenses are 75 of sales what is the amount of sales
What adjustments should be made to net present value to account for inflation?
oslo company prepared the following contribution format income statement based on a sales volume of 1000 units the
Clancey Inc. issues $2,085,500 of 7% bonds due in 14 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%. What amount will Clancey receive when it issues the bonds?
1. The primary measurement basis currently used to value assets in external financial statements of an enterprise is the
bank reconciliation the following data were accumulated for use in reconciling the bank account of maplewood co. for
Based on the data presented in Exercise 5-1, assume that the beginning balances for the customer accounts were zero, except for Sunrise Enterprises, which had a $480 beginning balance. In addition, there were no collections during the period.
Open T- accounts for work in process inventory and Finished goods inventory . Post the appropriate entries to these accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero.
a consolidated balance sheet reports the financial position of two or more legal entities just as if they were one
suppan manufacturing company manufactures a variety of tools and industrial equipment. the company operates through
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