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Please help with the following questions; <br/><br/><br/>On January 1, Easton Company had cash on hand of $90,000. All of January’s $200,000 sales were on account. December sales of $242,000 were also all on account. Experience has shown that Easton typically collects 25% of receivables in the month of the sale and the balance the following month. All materials […]
Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows. I need to make a statement of cash flows with the following information. 2018 2017 Net income $142,500 $162,000 Depreciation Expense 42,000 35,000 Purchase of Plant Assets 135,000 125,000 Disposal of Plant Assets 40,000 50,000 Gain (Loss) on […]
1) On June 1, 2019 Adelphi Corporation issued $130,000 of 6%, 5-year bonds. The bonds which were issued at 101, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is […]
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