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Selected information from Regan Ltd.'s 2020 accounting records is as follows:
Proceeds from sale of land...............................$300,000
Proceeds from long-term borrowings...............400,000
Purchase of plant assets.................................280,000
Purchase of inventories...................................850,000
Proceeds from issuance of common shares.....300,000
Question 1: Based on the above information, the cash provided by investing activities for calendar 2020 is
Provide two (2) examples that demonstrate a change in your theories of financial accounting for managers since the beginning of this course.
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Purchases of inventory are all on credit and 40% is paid in the month of purchase and 60% in the month following purchase. Budgeted inventory purchases are $97,500 in January, $67,500 in February, and $31,500 in March.
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Provide a financial approval, while the other supervisor has to approve the necessity of the purchase .
Record the initial journal entry during the year. Record the adjusting entries on December 31, 2017. On January 1, you purchased a computer from Apple Inc.
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The Goods in Process Inventory account of a manufacturing company that uses an overhead rate based on direct labor cost has a $10,400 debit balance after all posting is completed. The cost sheet of the one job still in process shows direct material c..
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