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Questions -
Q1. Accounts payable decreased by $75,000 and accounts receivable increased by $75,000. What will be the net result in terms of cash flow?
A - Cash increased by $50,000.
B - Cash decreased by $50,000.
C - Cash increased by $150,000.
D - Cash decreased by $150,000.
Q2. The total of wage expense to employees for the year was $500,000. Wages payable to employees at the beginning of the year were $15,000 and at the end of the year $10,000. Wage expense resulted in cash outflows of?
A - $495,000
B - $500,000
C - $505,000
D - $510,000
Pretax financial income for Lake Inc. is $300,000, and its taxable income is $100,000 for 2011. Its only temporary difference at the end of the period relates to a $70,000 difference due to excess depreciation for tax purposes.
Assuming that Sales Discounts are reported as contra-revenue, compute Net Sales for the two months ended February 28.
Under what conditions is the development of an expert system likely to be worth the effort?
ortiz co. produces 5000 units of part a12e. the following costs were incurred for that level of production direct
The building had a fair market value of $500,000 before and $200,000 after the tornado. What is Heywood's casualty loss from the tornado
1.It is discovered in 2013 that ending inventory in 2011 was understated. What is the effect of the understatement on the following?
In chart form, distinguish between these 3 segments of the accounting function, each of them along these 4 criteria: The legal or regulatory bodies and guidelines that must be abided by.
abc ltd. produces an mp3 player. the market for this product is increasing and for this reason abc is planning to
By December 31, 2017, 16 of the 40 home games had been played. What amount should be reported as a current liability at December 31, 2017
Inventory Analysis - A company reports the following etermine (a) the inventory turnover and (b) the number of days' sales in inventory
Goods available for sale total $25,000, beginning inventory is $8,000, ending inventory is $12,000, How many days is the days-sales-in inventory
Optix Camera Shop uses the lower-of-cost-or-market basis for its inventory. Determine the amount of the ending inventory by applying the lower-of-cost-or-market
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