ACCT 557 Week 7 Quiz
- Question : (TCO F) The company uses the indirect method for the statement of cash flow. How would an increase in the inventory balance be reported?
- Question : (TCO F) Which of the following is not true?
- Question : (TCO F) Glitter Girl, Inc. recognized net income of $136,000 including $24,000 in depreciation expense………………………Compute the net cash from operating activities based on the above information.
- Question : (TCO F) Dasher Builder’s, Inc. shows the following as of December 31, 2012
- Sold available for sales securities for $650,000
- Acquired 50% of Elven Corp’s common stock for $310,000 cash, which was borrowed from Peppermint’s Bank.
- Issued 2,000 shares of its preferred stock for land having a fair value of $50,000
- Purchased a patent for $170,000 cash
- Issued 1,000 of its 12% debenture bonds, due 2017, for $225,000 cash
- Paid $130,000 toward bank loan.
- Recognized $79,000 net increase in returnable long term customer deposits
Dasher’s net cash provided by investing activities for 2012 is
- Question : (TCO F) Big Dog Builder’s, Inc. shows the following as of December 31, 2012.
– Acquired 50% of Kitty Corp’s common stock for $225,000 cash which was borrowed from Mouse’s Bank.
– Sold available for sales securities for $852,000
– Issued 1,000 of its 12% debenture bonds, due 2017, for $350,000 cash
– Paid $160,000 toward bank loan.
– Recognized $66,000 net increase in returnable long term customer deposits
– Issued 2,000 shares of its preferred stock for land having a fair value of $500,000
– Purchased a patent for $140,000 cash
Big Dog’s net cash provided by financing activities for 2012 is - Question : (TCO F)Cash flows from operating activities (indirect and direct methods). Presented below is the income statement of Smiling Tiger, Inc.
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