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Finding Financial Information; Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
Required:
1. How much cash and cash equivalents does the company report at the end of the current year?
2. What was the change in accounts receivable and how did it affect net cash provided by operating activities for the current year?
3. Compute the company's gross profit percentage for the most recent two years. Has it risen or fallen? Explain the meaning of the change.
4. Where does the company disclose its revenue recognition policy? When does the company record revenues for the "sale" of gift cards?
What is the basic difference between absorption costing and variablting? Explain how fixed manufacturing overhead costs are shifted from one period to another under absorpti sting.
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Raymond provides the following information related to assets used in a trade or business which have been sold in 2011. All assets have been held for over one year.
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