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6 Cards in this Set
- Front
- Back
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Cash flow including:
Cash received from preferred stock dividends paid repayment of loan |
Cash Flows Form Financing
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Cash flow including:
cash paid for equipment cash from sale of land |
Cash flow from investing activities
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Percentage of completion method: how to recognize profit
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Calculate total profit on the contract (contract - total estimated cost of the project)
Total profit x (cost incurred for the period/total cost) |
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% of completion method,
Net advance billings & Accounts REceivable |
Net advance billing= total billings for the period - Construction in progress as of year end
Accounts receivable = advance billing - cash collected. Construction in Progress = Total contract x (current project cost / total project cost) |
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Depreciation expense
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Depreciation expense = Beginning fixed asset balance + Additions – Ending fixed asset balance
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Net Income
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gross profit - general operating expenses - depreciation - interest expense
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