Entries by Munene david

For 2014-TI is 335000; fed income taxes are 113900; tax exempt income is 16000;

February 17, 2020 in /by

For 2014-TI is 335000; fed income taxes are 113900; tax exempt income is 16000; realized gain on like kind exchange is 35000; accelerated depreciation (straight line would have been 45000) 72000; net short term capital loss 31000; NOL carryover 9000; code section 267 loss 9related taxpayer) 17000   Looking for a Similar Assignment? Order now […]

 

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Please figure out the net income for the Ryan Company from the following projected accounting balance

February 17, 2020 in /by

Please figure out the net income for the Ryan Company from the following projected accounting balance as of December 31: Accounts payable $60,000   Sales $900,000 Accounts receivable 120,000   Capital stock 200,000 Depreciation, factory 12,000   Retained earnings ? Inventories (5/31 & 6/30) 160,000   Cash 80,000 Direct materials used 200,000   Equipment, net […]

 

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Is negative cash from operating activities a negative indicator for a company?

February 17, 2020 in /by

1.Is negative cash from operating activities a negative indicator for a company? Why or why not? What about negative cash from investing activities? 2.Why does the statement of cash flow begin with income items that contain both cash and non-cash items in the operating activity section of the company? Please indicate  whether the operating activities of […]

 

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Jay Company recently acquired an olive oil processing company that has an annual capacity of 1,000,000 liters

February 17, 2020 in /by

Jay Company recently acquired an olive oil processing company that has an annual capacity of 1,000,000 liters and that processed and sold 400,000 liters last year at a market price of $3 per liter. The purpose of the acquisition was to furnish oil for the Cooking Division. The Cooking Division needs 800,000 liters of oil […]

 

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