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Below are line items included in recent statements of cash flows prepared by a national retailer. For some items, the direction of the change in the account is also indicated.1. Accounts payable, increase.2. Accounts receivable, decrease.3. Accrued expenses payable, decrease.4. Capital expenditures.5. Deferred income tax liability (long term), increase.6. Depreciation and amortization expense.7. Dividend payouts.8. Income taxes payable decrease.9. Issuance of common stock.10. Issuance of long-term debt.11. Issuance of short-term debt.12. Merchandise inventories, decrease.13. Other current assets, increase.14. Proceeds from disposals of property and equipment.15. Purchase common stock in other companies.16. Purchase of treasury stock.17. Repayment of long-term debt.
Required:
For each item, indicate in which section of the statement of cash flows it would appear, assuming the operating portion was prepared using the indirect method.1. Operating activities2. Financing activities3. Investing activities4. Would not appear in the statementFor those flows you identified as operating, indicate whether the amount would have been added to or subtracted from net income in the operating portion of the statement of cash flows knowing it was prepared using the indirect method.
Auditors should decide, based upon cost considerations, whether to test the design effectiveness or operating effectiveness of controls. Inquiry alone provides sufficient evidence to support operating effectiveness of a control.
Selected comparative financial statements of Tripoly Company follow.
Perth Corporation has two operating divisions, a casino and a hotel. The two divisions meet the requirements for segment disclosures. Before transactions between the two divisions are considered, revenues and costs are as follows:
The computer workstation furniture manufacturing that Adria Lopez started in January is progressing well.
Compute trend percents for the following accounts, using 2011 as the base year (round the percents to whole numbers).
Students - A strategic network for business generally has 5 characteristics. Can you name and briefly describe them? Which do you think is most important? Why?
Define what is meant by a company's control environment. Comment on the impact that BFA's related party disclosure practices would have on an auditor's assess- ment of BFA's control environment. (The Baptist Foundation of Arizona (BFA) )
Name two cost factors that can explain why an organisation finds it cost-effective to make smaller and more frequent purchase orders.
according to martin and steele 2010 p.13 the two principal professional associations in australia - cpa australia the
What kind of system makes sense for your company, given that you plan to start with only one version of your product but at some point in the future may offer a variety of options?
Determine the free cash flow for Mediterranean Tile Company.
Redbud Company uses a certain part in its manufacturing process that it buys from an outside supplier for $44 per part plus another $6 for shipping and other purchasing related costs.
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