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1.Refer to the information reported about Forten Company in Problem 16-1A. Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report its operating activities using the indirect method. Identify the debits and credits in the Analysis of Changes columns with letters that correspond to the following list of transactions and events.
a. Net income was $ 114,975. b. Accounts receivable increased. c. Merchandise inventory increased. d. Prepaid expenses decreased. e. Accounts payable decreased. f. Depreciation expense was $ 20,750. g. Sold equipment costing $ 46,875, with accumulated depreciation of $ 30,125, for $ 11,625 cash. This yielded a loss of $ 5,125. h. Purchased equipment costing $ 96,375 by paying $ 30,000 cash and (i.) by signing a long-term note payable for the balance.j. Borrowed $ 4,000 cash by signing a short- term note payable. k. Paid $ 50,125 cash to reduce the long- term notes payable. l. Issued 2,500 shares of common stock for $ 20 cash per share. m. Declared and paid cash dividends of $ 50,100.
The firm had two consultations with this client and required 130 administrative labor hours. What additional costs will be charged to this customer?
Klumper Corporation is a diversified manufacturer of industrial goods. The company's activity- based costing system contains the following six activity cost pools and activity rates:
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Make a cash budget for Sharpe covering the first seven months of 2004. Sharpe has $200,000 in notes payable due in July that must be repaid or renegotiated for an extension. Will the firm have ample cash to repay the notes?
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