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The net income reported on the income statement for the current year was $275,000. Depreciation recorded on fixed assets and amortization of patents for the year were $40,000 and $9,000 respectively. Balances of current asset and current liability accounts at the end and at the beginning of the year are as follows: Cash end $50,000 Beginning $60,000 Accounts receivable end 112000 beg 108,000 inventories end 105,000 beg 93,000 prepaid expenses 4,500 beg 6,500 accounts payable (merchandise creditors) end 75,000 beg 89,000 What is the amount of cash flows from operating activities reported on the statement of cash flows prepared by the indirect method?
which of the following items would not be considered when analyzing accounts receivable and allowance for doubtful
The differences between the book basis and tax basis of the assets and liabilities at the end of 2008 are as follows: What is the journal entry to record income tax expense, deferred income taxes, and income tax payable for 2008?
the city of albuquerque would probably not use a capital projects fund for which of the following assets?1 construction
On March 1, 2011, Hess retired $400,000 of these bonds at 98 plus accrued interest. What should Hess record as a gain on retirement of these bonds? Ingore taxes.
Consolidation adjustment/elimination journal entries that are required at the above financial year end date (i.e. for one year only).
exotic aroma company buys bulk flowers and processes them into perfumes in a two-stage process. its highest-grade
Prepare the entries for Todd Company for the purchase of the stock, share of McGuire income and dividends received from McGuire.
Qualitative considerations often play into capital investment analysis. Reflect on an investment that a company you are familiar with has made.
Record the journal entries for each year using the % of completion method. Show the partial accounts on the December 31 balance sheet for each year. Show the January 1 to Dec 31 Income statement for each year.
hiawatha corp is considering the purchase of a new piece of equipment. the cost savings from the equipment would result
what is the accounting equation? suppose your company sold 12000 in merchandise to a customer for cash. how does this
the warbler jeans company produces two different types of jeans. one is called the simple life and the other is called
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