The Changes in Each Balance Sheet Account for Bryan Company

question 26

Essay

The changes in each balance sheet account for Bryan Company during the year just completed are as follows: Bryan Company's income statement for the year just ended shows the following:
The company did not dispose of any property,plant,and equipment,buy any long-term investments,issue any bonds payable,or repurchase any of its own common stock during the year.Bryan Company uses the direct method to construct its statement of cash flows.
Required:
a.Determine the sales adjusted to the cash basis.
b.Determine the cost of goods sold adjusted to the cash basis.
c.Determine the selling and administrative expenses adjusted to a cash basis.
d.Determine the net cash provided (used)by operating activities.
e.Determine the net cash provided (used)by investing activities.
f.Determine the net cash provided (used)by financing activities.

Recognize the accounting treatment of acquired intangibles and goodwill.

Apply the appropriate amortization methods for intangible assets.

Identify and classify different types of intangible assets for financial accounting purposes.

Understand the GAAP requirements for disclosing research and development costs and amortization methods.

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Definitions:

Carefree

Lacking serious worries, responsibilities, or duties; possessing a light-hearted and untroubled outlook.

Stereotypes

Widely held but fixed and oversimplified images or ideas about a particular type of person or thing, which can influence perceptions and behavior.

Intimate Partner Violence

Physical, sexual, emotional, or psychological harm by a current or former partner or spouse, regardless of the presence of a sexual relationship.

Age Bracket

A range of ages grouped together for statistical analysis, often used in research and marketing.