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Problem 1: Assume NO taxes. To inflate income in Y2, a company treats an operating payment of $100 in Y2 as a capital expenditure in Y2. It had not done so in prior periods. Assume that the payment was made at the beginning of Y2. The company states that the useful life of the PP&E acquired at the beginning of Y2 is four years. Which one of the following best describes the effect of this fraud on the indirect cash flow statement?
a. Net income +100; Operating cash flow +100; Investing cash flow -100b. Net income +75; Operating cash flow +75; Investing cash flow -100c. Net income +75; Adjustment for depreciation +25; Operating cash flow +100; Investing cash flow -100d. Net income +100; Adjustment for depreciation +25; Operating cash flow +125; Investing cash flow -100
John, age 16, goes to the internet to purchase some computer software. John locates Ace Inc. Computer Software web site. Ace has the software John wants and John places the order by identifying himself and orders two types of software and agrees to p..
Prepare the analyses and financial statements requested in the caseproblem 4B-4, Page 179 of your textbook using an Excel spreadsheet. Note the check figure provided (Net Income = $1,012).
Lynn and Jack jointly own shares of stock of a corporation, have a joint bank account, and have purchased and own as tenants in common a piece of real estate. They share equally the dividends paid on the stock, the interest on the bank account, and t..
Which entry to record the payment by Underwood Inc., within 10 days if the company uses the perpetual inventory system and the gross method
Every time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life, identify a situation where you were presented with a choice, the opportunity cost of the choice you made, and the process you..
Explain the WACC in the context of a hurdle rate, return on invested capital (ROIC), an optimal capital structure, and an optimal capital budget.
Currently the unit selling price of a product is $125, the unit variable cost is $105, and the total fixed costs are $460,000. a proposal is being evaluated to increase the unit selling price to $130. compute the current break even sales (units) comp..
Sally received and invested $57,642 from her parents to fund her post-secondary education. For how many years can she pay for her education
Which of the following statements is true regarding variable costing?
a company manufactures a sells and product it for 120 per unit. the net fixed costs of manufacturing and selling the
Assuming that Diane spends the remainder of her income on consumption, what is her saving? - Is she a net lender or net borrower?
Jackie has the following information to evaluate—her current salary of $74,000 versus total revenues of $100,000 and expenses of $65,000 from starting a new business. How much is the opportunity cost associated with staying at her current job?
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