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Prepare a Statement of Cash Flows for the year ending December 31, 2014 using the indirect method of reporting cash flows from operating activities.
Assume that equipment that cost $125,000 was purchased for cash and the land was sold for $15,000. The stock was issued for cash and the only entries in the retained earnings account were net income of $56,000 and cash dividends declared and paid of $18,000.
Year
2014
2013
Cash
$65,000
$ 54,000
Accounts receivable (net)
78,000
85,000
Inventories
106,500
90,000
Land
0
20,000
Equipment
495,000
370,000
Accumulated depreciation
(215,000)
(158,000)
$529,500
$461,000
Accounts payable
$ 53,500
$ 55,000
Common stock, $10 par
200,000
170,000
Paid-in capital in excess of par--
common stock
62,000
60,000
Retained earnings
214,000
176,000
a. What method should the assets in the Spain office be depreciated with for tax purposes? b. What is the total depreciation for the assets listed below for 2010?
wendel stove company is developing a professional model stove aimed at the home market. the company estimates that
What are at least 5 considerations you will need to take into account when you make a make-decision versus a buy decision at some point in the future? Explain at least 5 reasons why these risk are important to consider.
Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800.
on march 25 2014 patton company sold merchandise on account10000. the applicable sales tax percentage is 8.5. record
George, Harriet and Ingrid are equal Partners in the GHI Partnership. George's Adjusted Basis (AB) in his Partnership Interest is $40,000, Harriet's is $60,000 and Ingrid's is $20,000. The Partnership distributes property to George which has ..
Determine the unit contribution margin and contribution margin ratio and calculate the break-even point in units and sales dollars.
the management of kunkel company is considering the purchase of a 40000 machine that would reduce operating costs by
john has earned income of 4200. he has 32900 of unearned income.a. if he does not participate in an employer-sponsored
Micro spinoffs,Inc issued an 20-year-old debt a year ago at par value with a coupon rate of 8 percent, paid annually. Today, the debt is selling at $1050. If the firm is tax bracket is 35 percent, what is its after-tax cost of debt?
The main reason to prepare a differnetial analysis report is to: a. Decide between two options b. See if there has been a difference in net income over a period of time such as 5-10 years'
She does remember that the machine has a projected life of 10 years. Based on these data, the annual cost savings are:
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