Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income​ statement: Kentucky Company Income Statement Year Ended December​ 31, 2019 Sales Revenue ​$249,000 Interest Revenue ​2,300 Gain on Sale of Plant Assets ​5,300 Total Revenues and Gains ​$256,600 Cost of Goods Sold ​124,000 Salary Expense ​43,000 Depreciation Expense ​14,000 Other Operating Expenses ​20,000 Interest Expense ​1,600 Income Tax Expense ​5,100 Total Expenses ​207,700 Net Income​ (Loss) ​$48,900 Additional information provided by the company includes the​ following: 1. Current​ assets, other than​ cash, increased by​ $21,000. 2. Current liabilities decreased by​ $1,200. Compute the net cash provided by​ (used for) operating activities.

Paar corporation bought 100 percent of kimmel, inc., on january 1, 2012. on that date, paar’s equipment (10-year life) has a book value of $420,000 but a fair value of $520,000. kimmel has equipment (10-year life) with a book value of $272,000 but a fair value of $400,000. paar uses the equity method to record its investment in kimmel. on december 31, 2014, paar has equipment with a book value of $294,000 but a fair value of $445,200. kimmel has equipment with a book value of $190,400 but a fair value of $357,000. the consolidated balance for the equipment account as of december 31, 2014 is $574,000. what would be the impact on consolidated balance for the equipment account as of december 31, 2014 if the parent had applied the initial value method rather than the equity method? the balance in the consolidated equipment account cannot be determined for the initial value method using the information given. the consolidated equipment account would have a higher reported balance. the consolidated equipment account would have a lower reported balance. no effect: the method the parent uses is for internal reporting purposes only and has no impact on consolidated totals.

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Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.