Our company switched from double-declining balance depreciation to straight-line depreciation. As a result,
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
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 | 250,000 | |
| Office salaries | 90,000 | Buildings, net | 450,000 | |
| Insurance, factory | 14,000 | Utilities, factory | 15,000 | |
| Plant wages | 120,000 | Selling expenses | 40,000 | |
| Bonds payable | 140,000 | Maintenance, factory | 30,000 |
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 the cash flow are on the direct method or the indirect method. Please provide a rationale for your statement.
NO COPY AND PASTING FROM INTERNET!
Since 2010, we have offered professional writing services to clients all over the world.
Over the years, our writers have gained solid experience in all academic disciplines, giving them a competitive edge to provide only first-rate academic papers.
Hi there! Chat/Order through WhatsApp.