If a company has excess space in its building that it rents to another company for $700, what is the effect on the accounting equation during the first month?

When preparing the operating activities section of the statement of cash flows using the indirect method, an increase in income taxes payable is added to net income.

If accrued salaries were recorded on December 31 with a debit to Salaries Expense and a credit to Salaries Payable, and no reversing entries were made on January 1, the entry to record payment of these wages on the following January 5 would include:

Use the following information to calculate cash paid for wages and salaries:           Salaries expense $ 168,000   Salaries payable, January 1   6,400   Salaries payable, December 31   10,600  

An income statement reports the revenues earned less the expenses incurred by a business over a period of time.

The first line item in the operating activities section of a spreadsheet for a statement of cash flows prepared using the indirect method is:

The statement of cash flows is:

Evaluation of company performance does not include analysis of (1) past and current performance, (2) current financial position, and (3) future performance and risk.

A company had net cash flows from operations of $341,000, net income of $286,000 and average total assets of $1,850,000. The cash flow on total assets ratio equals:

A company had net cash flows from operations of $341,000, net income of $286,000 and average total assets of $1,850,000. The cash flow on total assets ratio equals: