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Pella Company presents its statement of cash flows using the indirect method. The following accounts and corresponding balances were drawn from Pella's 2014 and 2013 year-end balance sheets:
The income statement contained a $700 loss on the sale of equipment, a $900 gain on the sale of land, and $2,500 of depreciation expense. Net income for the period was $36,500. Required:
Prepare the operating activities section of the statement of cash flows.
In December 2012, Pavelka Company's manager estimated next year's total direct labor cost assuming 50 persons working an average of 2,000 hours each at an average wage rate of $ 15 per hour.
describe the purpose of a flexible budget. suppose a manager claims flexible budgets are useful because costs are
Complete the analysis to determine if the current machine should be replaced and new machine is expected to have zero salvage value after 5 years.
The Dallas plant of Oscar Chemical processes talphazine into zetazine and gammazine. A batch comprises of 20,000 gallons of talphazine, costing $11,000.
Determine the denominators to be used in the calculations of cost per equivalent unit for materials and conversion costs.
What considerations go into choosing a cost allocation plan? Companies can choose among a few allocation methods. Do some methods make more sense in certain situations than others?
Computing the lower of cost or market on an item-by-item basis, determine what amount would be reported on the balance sheet for inventory.
Back Mountain Industries (BMI) has two divisions: East and West. BMI has a cost of capital of 15%. Selected financial information (in thousands of dollars) for the first year of business follows:
Describe how a flexible budget lends itself to cost-volume-profit analysis.
How much value will this new equipment create for the firm and at what discount rate will this project break even, should the firm purchase the new equipment?
A quasi-reorganization was approved that reduced the par to $25, wrote down plant assets by $65,000, and eliminated the deficit. Prepare the appropriate journal entries.
Read Using Shareholder Value to Evaluate Strategic Choices - The basic principle of the article is that performance evaluation based on accounting measures alone is not sufficient.
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