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If a gain of $7,000 is incurred in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and contribution margin per unit are as follows.
Assuming a beginning cash balance of $2,000, estimated cash receipts of $105,900, and a desired ending cash balance of $3,500, then the estimated cash disbursements are:
Company has assets of $1,800,000, liabilities of $1,100,000 and stockholder's equity of $700,000. (a) prepare the journal entry to record the lease, and (b) compute the and comment on the debt to total assets ratio at the year-end.
This assignment assumes you are a consultant and provide your findings to your client. Please make sure the memo is clear, brief and understandable. Also attach the appropriate information and calculation in the appendix for the clients to underst..
As the financial manager in developing forecast for the firm, where would you go to in order to start your forecast and refine it with more accurate future projections concerning interest rates, raw material prices, and the like to build your esti..
Explain the meaning of the increase or decrease in the LIFO reserve during the 2010. What does this tell you about inventory costs for the company? Are they rising or falling? Explain.
Why are there differences between taxable and financial income? What are some examples of permanent and temporary differences? Why do these differences exist? How do they affect the financial statements?
What are the advantages and disadvantages to FSC's decision to not use the BSC as a performance tool- i.e., linking it to the employee evaluation and reward system?
Calculate the annual rate of return for each asset in each of the 10 preceding years, and those values to find the average annual return for each asset over the 10-year period.
Explain what is meant by the test data approach. What are the major difficulties with using this approach? Define parallel simulation with audit software and provide an example of how it can be used to test a client's payroll system.
During your examination of the evidence, you uncover a material weakness in interal control.
A few days before the move, Philip hired a friend to organize his belongings, throwing out stuff that he did not need anymore and also packing some of his belongings in his closet. Philip paid her $7,000.
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