AP11.01 – Great Adventures
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Prepare the statement of cash flows using the indirect method.
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Prepare the statement of cash flows using the indirect method.
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Given the purchase price, sales tax, delivery charge, special rack cost, normal repair cost, cost of signs painted, and insurance cost … determine the cost of the delivery truck.
Given the amount they purchased a machine for and the depreciation of the machine… find what the journal entry for disposal would be.
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Given the cost of the equipment and the depreciation expense… determine how much would be debited to accumulated depreciation.
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Given book value, future cash flows, and fair value… determine the amount of impairment loss.
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Given equipment price, historical cost, and accumulated depreciation…determine the gain or loss on the sale.
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Given a lump sum amount along with the market value of land, a building, and equipment… determine the cost that was assigned to the equipment.
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Given the equipment cost, estimated life, and residual value… determine the book value of the asset.
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Given equipment cost, estimated life, and estimated residual… determine the balance in the accumulated depreciation.
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Is the income statement and statement of cash flows giving a similar picture of a company, true or false?