Arundel Company disclosed the following information for its recent calendar year. Income Statement Data Selected Year-End Balance Sheet Data
Revenues $120,000 Accounts receivable decrease $29,000
Expenses: Purchased a machine for cash 20,000
Salaries expense 74,000 Salaries payable increase 24,000
Utilities expense 30,000 Other accrued liabilities decrease 15,000
Depreciation expense 29,000 Other expenses 8,500
Net loss $(21,500 )

Requried:
Prepare the operating activities section of the statement of cash flows using the indirect method.

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

When slick heating company switched to an activity based costing system, it realized that it was allocating a much lower percentage of factory overhead to a product line that the marketing department was trying to push. the product line may contain which type of products?

The market yield on spice grills' bonds is 15%, and the firm's marginal tax rate is 33%. what is their shareholders' required return if the equity risk premium is 4%?