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  1.  Which financial statement is used to determine cash generated from operations? A. Income statement B. Statement of operations C. Statement of cash flows D. Retained earnings statement   2.  In terms of sequence, in what order must the four basic financial statements be prepared? A. Balance sheet, income statement, statement of cash flows, […]

Harry the CEO is asking you to complete a time‐sensitive project that another person, Selwyn, had started working on before he retired. Harry explains that BioMed has a manufacturing plant that produces a prescription topical cream called DermaPlus™, which is used for treating certain skin conditions. Hospitals and pharmacies are the main buyers of DermaPlus™. […]

Writing Assignment [Document Analysis] Instructions–  In this assignment, you are to read and analyze the documents provided in the two links below. Using no more 12-point font, in a well-written paper [between 600 and 900 words] provide your analysis by addressing the following questions.Compare and contrast the Virginia and New Jersey plans presented at the Constitutional Convention. Consider […]

The Polk Company builds custom fishing lures for sporting goods stores. In its 1st year of operations, 2012, the company incurred the following costs:Variable Costs per Unit:Direct Materials $7.50Dirct Labor $2.45Variable Manufacturing overhead %5.75Variable Selling & Admn Expenses $3.90Fixed Costs Per YearFixed Manufacturing Overhead $234,650Fixed Selling & Admn Expenses $240,100Polk Company sells the fishing lures […]

Determine the current market prices of the following $1,000 bonds if the comparable rate is 10% and answer the questions. * XY 5 ¼ percent, with interest paid annually for 20 years. * AB 14 percent, with interest paid annually for 20 years. a. Which bond has a current yield that exceeds the yield to […]

1.  Crave Co. uses departmental predetermined overhead rates for allocating overhead to jobs.  The rates are based on machine hours for the Machining department and on direct labor cost for the Assembly department.  The company estimated the following for 2009:                                                                    Machining                    Assembly Manufacturing overhead cost              $277,800                     $103,200 Machine hours                                     69,450 hrs                   10,150 […]

Toy Box Inc. is contemplating expanding their sales of their children’s toys. The have an opportunity to stock and sell the X toy that has been a big hit with children everywhere. They need to order the X toys from the manufacturer in a minimum order of 100 at a cost of $12 each. They […]

We’re continuing to analyze the same company as in modules 2, 3, and 4. Based on additional information added in modules 3 and 4, please use the information below to make a statement of cash flows. The beginning cash balance is $30,000. Use the Net Income from Module 2. Use depreciation expense of Module 2. During […]

We’re continuing to analyze the same company as in modules 2 and 3. Additional information added in module 3: One client had indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase. The bookkeeper already corrected the sales account. However, the bookkeeper may have made […]

Bond TerminologyP 2. Listed below are common terms associated with bonds:a. Bond certificateb. Bond issuec. Bond indentured. Unsecured bondse. Debenture bondsf. Secured bondsg. Term bondsh. Serial bondsi. Registered bondsRequired1. For each of the following statements, identify the category above with whichit is associated. (If two statements apply, choose the category with which it ismost closely […]