The following is a condensed version of the comparative balance sheets for Larkspur Corporation for the last two years at December 31. 2020 2019 Cash $ 221,250 $ 97,500 Accounts receivable 225,000 231,250 Investments 65,000 92,500 Equipment 372,500 300,000 Accumulated Depreciation-Equipment (132,500 ) (111,250 ) Current liabilities 167,500 188,750 Common stock 200,000 200,000 Retained earnings 383,750 221,250 Additional information: Investments were sold at a loss of $12,500; no equipment was sold; cash dividends paid were $37,500; and net income was $200,000. (a) Prepare a statement of cash flows for 2020 for Larkspur Corporation

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation

Gerda, a real estate agent, is selling a moderately priced house in a subdivision. she knows from her uncle that the factory being built half a mile from the subdivision will be manufacturing dog food, using a process that creates a very strong odor that permeates the surrounding neighborhood. a buyer, who is unaware of the type of factory under construction, makes an offer on one of the houses gerda is selling, and within a short time, the deal goes through. what does this scenario best illustrate?

What is the relationship between credit and debt?