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The income statement of Hauser Company is presented on the next page. Additional information:1. Accounts receivable decreased $290,000 during the year, and inventory increased $140,000.2. Prepaid expenses increased $175,000 during the year.3. Accounts payable to merchandise suppliers increased $63,000 during the year.4. Accrued expenses payable increased $145,000 during the year.
Instructions
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2012, for Hauser Company, using the indirect method.
Tonya is a cash basis taxpayer. In 2010, she paid state income taxes of $5,000. In early 2011, she filed her 2010 state income tax return and recieved a $500 refund.
Eve's Apples opened business on January 1, 2010, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen-months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve..
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Prepare the journal entry to record pension expense and the employers' contribution to the pension plan in 2011.
Peg Henderson is an assistant dean at the College of Business Administration (CBA). She uses Excel daily for a variety of tasks, including tracking student internships and alumni. For this project, Peg wants you to create an Excel table from infor..
Journalize the following transaction using the direct write-off method of accounting for uncollectible receivables.
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Should the controller be concerned with Marvin Company's growth rate in estimating the allowance? Explain your answer.
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