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Carrie owns a truck costing $13,000 and used for personal activities. The truck has a $9,900
FMV when it is transferred to her?business, which is operated as a sole proprietorship.
A company sold a piece of manufacturing equipment for $30,000 cash. The equipment had been listed on the balance sheet at a net book value of $25,000, so the company recorded a gain on sale of equipment of $5,000. Which of the following items would b..
The December 31, 2012, balance sheet for Thomas Company showed total stockholders’ equity of $73,000. Total stockholders’ equity increased by $42,500 between December 31, 2012, and December 31, 2013. During 2013 Thomas Company acquired $10,700 cash f..
finding the net increase decrease in cash during the year.cash flow computations from the following selected data
Establishing budgets for governmental entities takes on special significance because of the importance of governmental compliance with final fund budgets. Students need to understand this special emphasis in governmental accounting before applying it..
Preparation of Bank Reconciliation Statement and Prepare a bank reconciliation.
Purposes of preparing action analyses, management has assigned ease of adjustment codes to the costs as follows: wages are classified as a Yellow cost; supplies and raw ingredients as a Green cost; and other expenses as a Red cost.
A company purchased a weaving machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. It is estimated that the machine could produce 75,000 bolts of woven fabric over its useful life. In the first year, 15,000 ..
The project would generate before tax annual cash inflows of $28,500. The tax rate is 35% and the company’s discount rate is 14%. What is the annual accounting income?
Make all journal entries necessary on Slidell's books in 2015 and 2016 to record this loan and the interestrate swap. On January 1, 2016, the interest rate is 6%.
Prepare a statement of cash flows for year ended December 31, 2014. Use the indirect method for cash flows from operating activities and how can users of financial statements utilize statement of cash flows in making informed decisions?
Merton Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company’s cash outflow for operating expenses by $1,289,000 per year. Calculate the internal rate of return of the investment opp..
Explain the effect on the profit, and on the Balance Sheet accounts for July 2015 if. Depreciation was not allocated for the month.
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