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The cash flows from operating activities are reported by the direct method on the statement of cash flows. Determine the following: a. If sales for the current year were $513,750 and accounts receivable decreased by $32,625 during the year, what was the amount of cash received from customers? = $546375 b. If income tax expense for the current year was $34,500 and income tax payable decreased by $3,900 during the year, what was the amount of cash payments for income tax? c. Briefly explain why the cash received from customers in (a) is different than sales. The input in the box below will not be graded, but may be reviewed and considered by your instructor.
Can you give an example of what this number may look like by using the income statement of a real-life company?
The after-tax cost of debt is 4.00%, the cost of preferred is 7.50%, and the cost of retained earnings is 11.50%. The firm will not be issuing any new stock. What is the firm's WACC?
on november 4 2009 blue company acquired an asset 27.5-year residential real property for 200000 for use in its
The Ness Company sells $5,000,000 of five-year, 10% bonds on January 1, 2011. The bonds have an effective yield of 9%.
the lansing community college registrars office is considering replacing some canon copiers with faster copiers
Finished goods inventory at the end of last December was 200 units. Ending finished goods inventory is equal to 25 percent of the next month's sales. Lenova Company expects to sell the brackets for $45 each. How many brackets should Lenova produce..
Shop for 36 months before selling it. Revez would like the gain on the sale of the clock to be a long-term capital gain. How can he achieve that objective?
Installment loans are used for longer-term loans. These require monthly payments throughout the duration of the loan. Loan repayments are made by an accounts payable clerk from one of its checking accunts. Create Big R's financing business process..
Fixed costs are $400,000 and the contribution margin per unit is $80. What is the break-even point?
safe travel produces car seats for children from newborn to 2 years old. the company is worried because one of its
The trust reports on a calendar tax year and distributes the $60,000 of 2007's net accounting income to Marty on January 20, 2008. No other distributions are made the current year. Marty's taxable income from the trust this year is:
Interest Revenue $5,000, Freight-out $1,500, Utilities Expense $7,400, Salaries Expense $18,500. Prepare the closing entries for the Dionne's accounts.
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