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1.Accounts receivable amounted to $215,000 at the beginning of the year and $245,000 at the end of theyear. Income reported on the income statement for the year was $300,000. The cash flow from operating activities on the cash flow statement using the indirect method is A.$315,000. B.$270,000. C.$300,000. D.$330,000. 2.In a common-size income statement, selling […]

1.A repair that extends the useful life of an asset would be considered a/an A.extraordinary repair. B.betterment. C.capital expense. D.ordinary repair. 2. A company receives a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the customer owe using a 360-day year? A.$354.38 B.$38.84 C.$39.38 D.$315.00 3.If […]

Skinny Dippers, Inc. produces nonfat frozen yogurt. The product is sold in five-gallon containers, which have the following price and variable costs.   Sales price ……………………….. $15 Direct material …………………….. 5 Direct labor ………………………… 2 Variable overhead ………………… 3   Budgeted fixed overhead in 20×1, the company’s first year of operations, was $300,000. Planned and […]

fin 571 week 6 wiley plus questions Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,931,443. have a life of five years, and would produce the cash flows shown in the following table.YearCash Flow1$492,0992-276,2913869,29641,073,2765810,915What is the NPV if the discount […]

1.To pay the least income tax possible in periods of rising inventory costs, the company should use whichinventory costing method? A.FIFO B.LIFO C.Average cost D.Specific identification 2.Which of the following is an incorrect statement if ending inventory is overstated? A.Net income is overstated. B.Gross profit is overstated. C.Cost of goods sold is overstated. D.Income tax […]

Assume that your neighbor took a loan of $300,000 five years ago. At that time, she took a 30-year loan for 5.8%. She now wants to consider re-financing her loan. She went to a bank and was told that re-financing her loan for 30 years would cost her $6,500 upfront and re-financing her loan for […]

Andre has asked you to evaluate his business, Andre’s Hair Styling.  Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid $9.90 per hour and works a 40-hour week and a 50-week year, regardless of the number of haircuts. Rent and other fixed expenses are $1,750 per month. […]

I HAVE ATTACH PDF. PLEAS USE AS REFERENCE …APA FOMAT NO PLAGARIZM Objective: Assess the issues, procedures, and techniques involved in IT resource contingency planning. Competencies: Critical thinking Instructions: In approximately 10-12 double-spaced pages discuss the planning steps, possible recovery options, and recommended testing requirements needed to support a successful business contingency/continuity of operations environment. […]

E5-16  Computing inventory and cost of goods sold amounts Consider the following incomplete table of merchandiser’s profit data: Sales                  Sales             Net              Cost of             Gross                         Discounts       Sales           Goods Sold         Profit $ 89,500             $ 1,560       $ 87,940        $ 60,200               (a) $103,600                  (b)        $ 99,220              (c)           $ 34,020 $  66,200            $ 2,000              (d)         $ 40,500               (e)        […]

Exercise 7-7 LaSalle Company established a petty cash fund on May 1, cashing a check for $100. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $1.75.   Receipts: delivery expense $31.25; postage expense $41; and  miscellaneous expense $25. July 1: Cash in fund $3.25. […]