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Duggan Sports Bar reported net income of $195,000 for 2008. Duggan also reported depreciation expense of $25,000, and a loss of $5,000 on the sale of equipment. The comparative balance sheets show an increase in accounts receivable of $15,000 for the year, an $8,000 increase in accounts payable, and a decrease in prepaid expenses of $7,000.
Instructions
Prepare the operating activities section of the statement of cash flows for 2008 using the indirect method.
Prepare a statement of cash flows for the year ended December 31, 2011, using the indirect method.
crede company sells a single product that has variable costs of 10 per unit.nbsp fixed costs will be 700000 across all
sunday starr prepares monthly cash budgets. relevant data from sunday starrs operating budgets for 2011
By the time the order is placed, the price has risen to $2.20. Which department should be assigned the additional charges incurred? Why?
Truestar Communication issued $90,000 of 9%, 10-year bonds payable on August 1, 2012, at par value. Truestar's accounting year ends on December 31.Requirements
Determine the NPV at a cost of capital of 12 percent for both projects. Which project should be chosen? Explain.
Prepare a multiple-column cash receipts journal a multiple-column cash payments journal - record the transaction(s) for May that should be journalized in the cash receipts journal and cash payments journal.
Bermudez Leasing Company purchased specialized equipment from Holmes Company on December 31, 2009 for $400,000. On the same date, it leased this equipment to Berry Company for 5 years, the useful life of the equipment.
However, the space occupied by the production of the value can be used by another production group that is currently leasing space for $55,000 per year.
Selling and administrative expenses are projected to be $45,117; this figure includes $1,117 in depreciation expense on the office equipment. All costs and expenses will be paid in cash. Nemani wants to maintain a balance of at least $25,000 cash ..
Prepare an income statement and a retained earnings statement for May assuming the data are not included -
How does the firm use "Cost-Volume-Profit Analysis" to assess performance? How would you use such a system to measure how costs change as production changes? How do you develop a "break even analysis" for a given firm and how would you use it?
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