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Collected $12,000 of three-month subscription revenue for its ONLINE REVIEW magazine, effective June 1 .
An advertizing expenditure of $100,000 is made on the first day of the current fiscal year.
Are financial statements primarily intended for internal or external users?
What is the purpose and content of the notes to the financial statements?
The fair market value of the equipment was $120,000, and the fair market value of the truck was $30,000.
Can you explain how the company might change its accounting system to reflect the reporting problems better?
Assume that practical capacity is used to calculate the allocation rates. Further assume that actual usage of the Lamp Division was 700 hours .
All but 1,000 share related to the stock-option plan were exercised by year-end. The expiration resulted because one of the executives failed to fulfill.
In the current tax year the tennis club next door offered to buy the old tennis courts, but only if Peta first restored them to good condition.
Determine the amount of deferred tax asset and deferred tax liability to be reported on Energizer's balance sheet as of December 31, 2013.
The fair value of the non-controlling interest on that date was $100,000. Little's book value on that date was $350,000.
Prepare an analysis of the budget variances for revenues and expenses for 20X1.
Will the annual interest expense recorded on the hospital's books be greater or less than the amount of annual interest actually paid to the bondholders?
What amount of long-term debt should be reported for the bonds in the hospital's December 31, 20X1 balance sheet?
The interest is payable semiannually on July 1 and January 1. On July 1, 20X6, the hospital called all of the bonds and retired them.
The bonds mature at the rate of $100 annually, beginning January 1, 20X2. Interest is payable annually on January 1.
Interest is payable semiannually, on April 1 and October 1, and the bonds mature on April 1, 20X6.
On September 1, 20X1, Step up Hospital issued $4,000 (face value) of five-year, 4.8 percent bonds at 94.5 percent and accrued interest.
The maturity date of the bonds is April 1, 20X6. On February 1, 20X2, $200,000 of these bonds are reacquired at 98 percent and accrued interest.
If a hospital's annual financial report includes a balance sheet, statement of operations, and statement of changes in net assets.
Under the indirect method, depreciation expense is added back to net income to obtain the net cash flow from operating activities.
In the hospital's 20X1 statement of cash flows, what amount should be reported as "net cash inflow from operating activities"?
In the hospital's 20X1 statement of cash flows, what amount should be reported as a cash inflow from its investing activities?
State how each of the following is computed and explain what might be indicated by the results of the computation.