Indirect Method Direct Method
a. Increase Decrease
b. Decrease Increase
c. Increase Increase
d. Decrease Decrease
In January 2004, Pace, Inc. estimated that its year-end bonus to executives would be $480,000 for 2004. The actual amount paid for the year-end bonus for 2003 was $440,000. The estimate for 2004 is subject to year-end adjustment. What amount, if any, of expense should be reflected in Pace's quarterly income statement for the three months ended March 31, 2004?
a. $ -0-.
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When preparing a statement of cash flows, a decrease in prepaid insurance during a period would require which of the ...