1 POINT 2 POINTS 3 POINTS 4 POINTS 5 POINTS Choc. Creme 1 POINT 4 POINTS 3 POINTS 2 POINTS2 POINTS 3 POINTS 2 POINTS 5 POINTS 2 POINTS 3 POINTS 4

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<ul><li> Slide 1 </li> <li> Slide 2 </li> <li> Slide 3 </li> <li> Slide 4 </li> <li> 1 POINT 2 POINTS 3 POINTS 4 POINTS 5 POINTS Choc. Creme 1 POINT 4 POINTS 3 POINTS 2 POINTS2 POINTS 3 POINTS 2 POINTS 5 POINTS 2 POINTS 3 POINTS 4 POINTS 5 POINTS 4 POINTS 3 POINTS 4 POINTS 5 POINTS GlazedJelly Boston Creme Cruller </li> <li> Slide 5 </li> <li> These are the 4 basic financial statements. 1 POINT </li> <li> Slide 6 </li> <li> What is Income statement, Retained Earnings statement, Balance Sheet And Stmt of Cash Flows </li> <li> Slide 7 </li> <li> This is the section of the cash flows statement where you would find a bond issuance. 2 POINTS </li> <li> Slide 8 </li> <li> What is the financing section? </li> <li> Slide 9 </li> <li> Non cash transactions would be show in this part of the statement of cash flows 3 POINTS </li> <li> Slide 10 </li> <li> It would be on a separate schedule. </li> <li> Slide 11 </li> <li> 4 POINTS This is the section of the cash flows statement where you would find a land sale. </li> <li> Slide 12 </li> <li> What is the investing section </li> <li> Slide 13 </li> <li> This is the section of the cash flows statement where you would find amortization 5 POINTS </li> <li> Slide 14 </li> <li> Operating </li> <li> Slide 15 </li> <li> This is the section of the cash flows statement where you would find a gain on the sale of investments 1 POINT </li> <li> Slide 16 </li> <li> Operating </li> <li> Slide 17 </li> <li> This is the section of the cash flows statement where you would find the cash inflow from a sale of another companys common stock. 2 POINTS </li> <li> Slide 18 </li> <li> Investing </li> <li> Slide 19 </li> <li> A/R increase added or subtracted from NI 3 POINTS </li> <li> Slide 20 </li> <li> Subtracted </li> <li> Slide 21 </li> <li> This is the section of the cash flows statement where you would report dividends paid. 4 POINTS </li> <li> Slide 22 </li> <li> Financing </li> <li> Slide 23 </li> <li> Cash dividends payable were $20,000 and $28,000 at the beginning and end of the year, $50,000 in dividends were declared during the year, what is the cash outflow for payment of dividends. 5 POINTS </li> <li> Slide 24 </li> <li> What is 42,000? </li> <li> Slide 25 </li> <li> Increase in wages payable add or subtract from net income. 1 POINT </li> <li> Slide 26 </li> <li> add </li> <li> Slide 27 </li> <li> Increase in Inventory 2 POINTS </li> <li> Slide 28 </li> <li> subtract </li> <li> Slide 29 </li> <li> Increase in prepaid expenses. 3 POINTS </li> <li> Slide 30 </li> <li> Subtract </li> <li> Slide 31 </li> <li> 4 POINTS Depreciation expense </li> <li> Slide 32 </li> <li> Add </li> <li> Slide 33 </li> <li> Decrease in Cash 5 POINTS </li> <li> Slide 34 </li> <li> Nothing </li> <li> Slide 35 </li> <li> Comparing individual items in financial statements from one year to the next is this type of analysis. 1 POINT </li> <li> Slide 36 </li> <li> Horizontal </li> <li> Slide 37 </li> <li> An analysis where all assets are stated as a component of total assets. 2 POINTS </li> <li> Slide 38 </li> <li> Vertical analysis </li> <li> Slide 39 </li> <li> This analysis is used when comparing different size companies in the same industry. 3 POINTS </li> <li> Slide 40 </li> <li> What is common-size statement analysis? </li> <li> Slide 41 </li> <li> What is the formula for horizontal analysis. 4 POINTS </li> <li> Slide 42 </li> <li> (CY-LY)/LY </li> <li> Slide 43 </li> <li> 5 POINTS This is a short term asset not included in the acid test ratio </li> <li> Slide 44 </li> <li> What is prepaid accounts and inventory? </li> <li> Slide 45 </li> <li> An increase in the collection of A/R will cause the A/R turnover ratio to ? 1 POINT </li> <li> Slide 46 </li> <li> What is increase? </li> <li> Slide 47 </li> <li> A good auditors report is called a _____ opinion. 2 POINTS </li> <li> Slide 48 </li> <li> What is clean or unqualified? </li> <li> Slide 49 </li> <li> An auditors report where they cant give an opinion due to the lack of data available is called a ____.. 3 POINTS </li> <li> Slide 50 </li> <li> What is disclaimer? </li> <li> Slide 51 </li> <li> The purpose of an audit is to: 4 POINTS </li> <li> Slide 52 </li> <li> Render an opinion on the fairness of financial statements. </li> <li> Slide 53 </li> <li> This is where management gives their opinion of the financial statements and can be completely biased. 5 POINTS </li> <li> Slide 54 </li> <li> What is MD&amp;A </li> <li> Slide 55 </li> <li> Slide 56 </li> <li> CATEGORY: Cash Flows MAKE YOUR WAGER! </li> <li> Slide 57 </li> <li> ANSWER: Net Income $200,000 Loss on Sale of land $30,000 Amortization $10,000 A/R increase $30,000 Inventory decrease $18,000 A/P decrease $20,000 </li> <li> Slide 58 </li> <li> QUESTION $208,000 </li> </ul>

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