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Question - Assume a company's net cash provided by operating activities is $86,000, It provided the following excerpts from its balance sheet:
This Year
Last Year
Current assets:
Accounts receivable
$40,000
$46,000
Inventory
$53,000
$50,000
Prepaid expenses
$13,000
$11,000
Current liabilities:
Accounts payable
$38,000
$44,000
Accrued liabilities
$18,000
$15,000
Income taxes payable
$10,000
Also assume the company incurred a loss on the sale of equipment of $4,000 and the credits to its accumulated depreciation account are $18,600. Based solely on the information provided, determine the company's net income?
Calculate a production budget in good form for the first quarter of the year (January-March), reporting monthly production as well as the quarter as a whole.
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Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixed selling and administrative expenses were $170,000. There was no beginning inventory. Assume that direct labor is a variable cost.
Given the company's use of static budgets as one of the performance evaluation measures of its managers, can the managers justify the use of built-in budgetary
The following information provides the amount of cost incurred in May for the cost items indicated. During May 16,000 units of the firm's single product were manufactured.
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Calculate the present value of an annuity of $6,000 received quarterly that begins today and continues for 25 years, assuming a discount rate of 8%
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Let's continue with our story on coach Rural Meyer,250 total units of replica memorabilia were produced. What was the actual number of total machine hours?
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