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Problem - Cash Collections-Direct Method - Spencer Corp. reported accounts receivable of $28,000 on its December 31, 2015, balance sheet. On December 31, 2016, accounts receivable had decreased to $22,000. Sales for the year amounted to $55,000. What is the amount of cash collections that Spencer will report in the Operating Activities section of its 2016 statement of cash flows assuming that the direct method is used?
The Haskins Company manufactures and sells radios. Each radio sells for $51.25 and the variable cost per unit is $28.75. Haskin's total fixed costs are $52,000.00, and budgeted sales are 28,000.00 units. What is the contribution margin per unit?
Calculate net cash flows from ?nancing activities. (Cash outflows should be indicated with a minus sign.) Calculate financing cash flows
Determine the consolidated balance for each of the following accounts as of December 31, 2011:Goodwill ..... Buildings (net)Equipment (net) . Dividends PaidCommonStock
At the start of 2014, Santana Rey is considering adding a partner to her business. She envisions the new partner taking the lead in generating sales of both services and merchandise for Business Solutions. Prepare the January 1, 2014, journal entries..
Use the high-low method to estimate the company's energy cost behavior and express it in equation form. Predict the energy cost for a month in which 26,000 pints of applesauce are produced.
How is the re-estimation accounted for? (Show your calculations for any adjustment required for the journal entries.) Prepare the journal entries.
Based on the following data for the current year, what is the inventory turnover? Net sales on account during year $ 500,000 Cost of merchandise sold during year 300,000 Accounts receivable, beginning of year 45,000 Accounts receivable, end of year 3..
You have already saved $36,000 for your retirement. Assume interest rate is 7%, how much money must you set aside per month
How does a manager looking at a balanced scorecard know whether a particular score is good or bad? If a customer waits an average 30 seconds, is that good or bad? Is a net income of $10 million good or bad?
Little Suzie operates a feed store Examine the following items and prepare the liability section of the balance sheet. Be sure and distinguish between current and long-term liabilities. The beginning of year accounts payable was $150,000. Little Suzi..
Holiday Laboratories purchased a high-speed industrial centrifuge at a cost of $440,000. Shipping costs totaled $30,000. Foundation work to house the centrifuge cost $8,600. An additional water line had to be run to the equipment at a cost of $3,000.
Lessor receives annual lease payments of $30,000, Make the journal entries at the time of the lease commencement and for Years 1 and 2 of the lease term.
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