Equipment with a purchase price of $20,000 and a book value of $12,000 was sold for $10,000. The effect on the cash flow statement, prepared under the indirect method, would be:

Which of the following statements is (are) true with respect to expensing or capitalizing intangible costs?
I). When developing patented content internally, only the legal expenses associated with the patent may be capitalized.
II). The cost associated with acquiring a brand must be expensed in the year of the acquisition.
III). The costs involved in developing software should be capitalized.
IV). In general, research and development expenses may be capitalized as per the matching principal.

Which section of the statement of cash flows represents cash generated internally?

Typically in an ascending triangle, the ____ prices form a horizontal trendline and the _____ prices forma series of higher and higher lows.

On September 1, 2001, OGR Company issued a note payable to National Bank in the amount of
$ 225,000, bearing interest at 12% per annum, and payable in 3 equal annual principal payments of
$ 75,000, plus interest. The first payment for interest and principal was made on September 1, 2002. What amount of accrued interest payable should OGR record at December 31, 2002?