Spectacular corporation began the year with accountsreceivable, inventory, and prepaid expenses totaling $67,000. at the end of the year,
spectacular had a total of $78,000
for these current assets. at the beginning of the year, it owed current liabilities of $44,000,and at year-end, current liabilities totaled $43,000. net income for the year was $82,000. included in net income was a $3,000 gain on the sale of land and depreciation expense of $10,000.
show how spectacular should report cash flows from operating activities for the year. the company uses the indirect method
Answers: 1
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Swain company manufactures one product, it does not maintain any beginning or ending inventories, and its uses a standard cost system. the company's beginning balance in retained earnings is $65,000. it sells one product for $170 per unit and it generated total sales during the period of $603,500 while incurring selling and administrative expenses of $54,500. swain company does not have any variable manufacturing overhead costs and its standard cost card for its only product is as follows:
Answers: 1
Spectacular corporation began the year with accountsreceivable, inventory, and prepaid expenses tota...
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