Why do gains and losses affect new income
Under the indirect method of preparing a statement of cash flows, why do gains and losses affect new income when determining new cash flow from operating activities?
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Fuentes Corporation reported net income of $152,000, declared dividends on common stock of $50,000, and had an ending balance in retained earnings of $360,000.
Kushman Combines, Inc. has $40,000 of ending finished goods inventory as of December 31, 2012. If beginning finished goods inventory was $20,000 and cost of goods sold was $80,000, how much would Kushman report for cost of goods manufactured?
One particular client, the Lason family, requested 46 jobs during the year that required a total of 92 hours of housecleaning. For this service, the client was charged $2,230.
What is earnings per share, and how is it computed? Why is EPS presented on the income statement as opposed to all other financial statement ratios?
Ruvolo Jeep Tours operates jeep tours in the heart of the Colorado Rockies. The company bases its budgets on two measures of activity (i.e., cost drivers), namely guests and jeeps.
Prepare a statement of partnership liquidation, covering the period june 3-29, 2012. for each of the following independent assumptions: a. all of the non cash assets are sold for 272,000 in cash, the creditors are paid and the remaining cash is
Comprehensive The following information for 2010 is available for the Marino Company:Purchases of $300,000 were made on terms of 2/10, n/30. Eighty percent of the discounts were taken.
Kagawa's effective tax rate is 40 percent and is based in an area that does not normally experience floods. Kagawa's taxable income from the tax return is $100,000.
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