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The income statement disclosed the following items for 2013: Deprecation expense $21,600 Gain on disposal of equipment $12,600 Net Income $190,500 Balances of the current assets and current liability accounts changed between December 31, 2012, and December 31, 2013, as follows: Accounts recivable $3,360 Inventory $1,920* Prepaid Insurance $720* Accounts payable $2,280* Income taxes payable $720 Dividends payable $510 *Decrease
a. Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate any cash outflows or negative amounts.
b. Briefly explain why cash flows from operating activities is different than net income.
dellas donuts owner made investments of 53500 and withdrawals of 20700. the company has revenues of 83700 and expenses
the difference between the profit margin controllable by a segment manager and the segment profit margin is caused by
donkey corporation has collected the following information after its first year of sales. net sales were 1000000 on
Prepare and post the closing entries. (Income Summary is account #34 in the chart of accounts.) Record the closing entries on Page 4 of the journal. Indicate closed accounts by inserting a line in both the Balance columns opposite the closing entry.
departments that are titled marketing finance operations accounting and finance are departmentalized by product
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explain the five different types of decisions that could use incremental analysis? what are the relevant costs in a
What is the relationship between the Securities and Exchange Commission and accounting standard setting in the United States?
prepare journal entries to record the december 2012 transactions. 2. post those entries to t-accounts. 3. prepare
What developments are leading to erosion of differences between at least some members of the Anglo-American and continental groups?
east valley manufacturing had gross profit of 450000 and selling amp administrative expenses of 275000 last year. the
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