[Solved] Assignment 219500

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Subject: Business    / Accounting
Question1. The Eppley Company reported a net income of $10,000 for the year just ended. Relevant data for the company follows:
.364px;=”” collapse;=”” 12px=””>AccountBeginning of yearEnd of yearAccounts receivable (net)$80,000$85,000Inventory123,000133,000Prepaid expense7,0008,000Accounts payable50,00054,000Accrued liabilities10,00014,000Dividends payable25,00030,000Long term debt payable 100,000 90,000Other items:Depreciation for the year $40,000Gain on the sale of equipment $5,000*Determine the net cash flows provided by (used in) operating activities for the Eppley Company.2.Below is a financial accounting question regarding Depletion. If you can show each step that would be greatly appreciated so I can understand how you arrived at the final #.In January, Manila Co., a calendar-year enterprise, purchased a mineral mine for $2,640,000 with removable ore estimated at 1.2 million tons. After it has extracted all the ore, Manila will be required by law to restore the land to its original condition at an estimated cost of $180,000. Manila believes it will be able to sell the property afterwards for $300,000. During the year, Manila incurred $360,000 of development costs preparing the mine for production and removed and sold 60,000 tons of ore. In its annual income statement, what amount should Manila report as depletion?3. Case study (Accounting questions) solution required for questions e, g and h only regarding Chicago Corpration Case at chapter 17, the case no is 10p in (Financial Accounting Book (14th Edition)

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